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Institute for Japanese Studies Lecture: "Abenomics and Monetary Policy"

 

Friday, February 14, 2020, 3:00PM - 5:00PM

     

The Institute for Japanese Studies present, "Abenomics and Monetary Policy" by Joshua Hausman, assistant professor of public policy and economics at University of Michigan.

Prime minister Shinzô Abe took office in late 2012 and began an economic program dubbed “Abenomics.” Abenomics consists of three parts: monetary expansion, fiscal expansion followed by consolidation and structural reforms. The goal was to end Japan’s slow growth and deflation. We provide an overview of Abenomics' effects on financial markets and the real economy, with a focus on the effect of monetary policy. While many financial and real economic indicators show success, consumption growth has been sluggish. Household-level data from the Family Income and Expenditure Survey suggest that this is in part because monetary policy has not had the predicted expansionary effect on household consumption, even for those households expected to benefit most. Professor Hausman presents a study co-authored by Takashi Unayama from Hitotsubashi University and Johannes F. Wieland from the University of California, San Diego, and argues that the limited effect of monetary policy on households is in part due to Japanese housing market institutions.

This event is free and open to the public.

Location : 250 Pomerene Hall
Contact : East Asian Studies Center

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