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Journal Article
Financial liberalization and monetary control in Japan
This article examines the effects of financial market reform on monetary control in Japan during the past two decades. The authors identify changes in the Bank of Japan's operating strategy and evaluate the Bank's ability to influence key policy variables in the current liberalized environment.
Journal Article
A comparison of monetary policy operating procedures in six industrial countries
The institutional environments in which central banks operate have become more alike over the past decade. The author examines the monetary policy operating procedures of the Federal Reserve and central banks in Japan, Germany, the United Kingdom, Canada, and Switzerland. In particular, he compares how monetary authorities in different countries have adapted their reserve management techniques to lower reserve requirements.
Journal Article
External adjustment and U.S. macroeconomic performance
Journal Article
Interest rate divergences among the major industrial nations
Journal Article
Prospects for the U.S. international travel deficit
Journal Article
Japan's growth performance over the last decade