Role of Money Stock in Conducting Monetary Policy

Bank of Japan research paper examining economic and financial developments since the 1990s. This paper discusses (1) the role of he money stock within the Bank of Japan's (the Bank's) monetary policy and (2) why the relationship between the money stock and economic activity has been unstable in Japan.

The Role of the Money Stock in Conducting Monetary Policy

(The Characteristics of the Money Stock)

The money stock is conceptually defined as the total amount of money circulating in the whole

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