Japan’s 90s QE programme too small: Fed paper


A Federal Reserve paper published on Tuesday says that while Japan's 1990s quantitative easing policy had a significant effect on bank liquidity, the size of the boost was too small.

David Bowman, Fang Cai, Sally Davies, and Steven Kamin, the paper's authors, use bank level date to investigate the policy impact of quantitative easing on the bank lending channel in Japan. They are interested in the effects on macroeconomic performance, in particular on bank lending, of Japan's quantitative easing

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