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Extremely low inflation rates have moved to the forefront of monetary policy discussions. In Asia, a number of countries-most prominently Japan, but also Taiwan and China-have actually experienced deflation over the last fifteen years. Monetary Policy with Very Low Inflation in the Pacific Rim explores the factors that have contributed to these circumstances and forecasts some of the potential challenges faced by these nations, as well as some potential solutions. The editors of this volume attribute low inflation and deflation in the region to a number of recent phenomena. Some of these episodes, they argue, may be linked to rapid growth on the supply side of economies. Here, inadequate demand policy can produce what is referred to as a "liquidity trap" in which the expectation of falling prices encourages agents to defer costly purchases, thereby discouraging growth. Low inflation rates can also be traced to the presence of a "zero-lower bound" on interest rates, as well as the inflation-targeting phenomenon. Targets have been set so low, the editors argue, that in some cases a few bad shocks lead to deflation.

Inflation (Finance). --- Inflation (Finance) - Pacific Area. --- Monetary policy - Pacific Area. --- Monetary policy. --- Monetary policy --- Inflation (Finance) --- Finance --- Business & Economics --- Money --- -Inflation (Finance) --- -339.53091823 --- Natural rate of unemployment --- Monetary management --- Economic policy --- Currency boards --- Money supply --- POLITICAL SCIENCE --- BUSINESS & ECONOMICS --- Economic Conditions --- Economics&delete& --- Macroeconomics --- E-books --- money, finance, wealth, income, financial, economics, economy, regional, international, global, rates, japan, taiwan, china, asia, asian, deflation, problem, solution, academic, scholarly, research, essay collection, anthology, price, policy, interest, strategy, liquidity, asset, prices, fiscal, slump, case study, macroeconomy, housing.

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Why countries choose different exchange rate arrangements and how these arrangements affect domestic monetary policy control and macroeconomic stability are questions of substantial interest to policy makers and researchers alike. The countries of the Pacific Basin region offer a wide variety of examples for the comparative study of the implications of different exchange rate arrangements. The essays in this volume examine the degree of financial interdependence and the conduct of exchange rate and monetary policy among Pacific Basin countries. The essays address four broad issues: one, the degree of regional financial market integration in the Pacific Basin, two, the implications of choosing different exchange rate regimes for domestic macroeconomic stability, three, the effect of exchange rate intervention policy on the conduct of domestic monetary policy, and four, the prospects for a yen currency bloc. Some of the essays focus on the national experience of specific countries in the Pacific Basin; others adopt a cross-country comparison approach.

International economic relations --- International finance --- Foreign exchange --- Monetary policy --- Government policy --- Congresses. --- AA / International- internationaal --- ASI / Asia - Azië - Asie --- JP / Japan - Japon --- US / United States of America - USA - Verenigde Staten - Etats Unis --- 382.242.0 --- 305.92 --- 333.450 --- 382.11 --- NBB congres --- 339.74 <5> --- -Monetary policy --- -332.456099 --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Cambistry --- Currency exchange --- Exchange, Foreign --- Foreign currency --- Foreign exchange problem --- Foreign money --- Forex --- FX (Finance) --- International exchange --- Currency crises --- Balans van het kapitaalverkeer: algemeenheden. --- Econometrie van de internationale handel. Handelsbalans, betalingsbalans. Wissel. --- Theorie van het deviezenverkeer. Theorie van de koopkrachtpariteit. --- Theorie van het internationale evenwicht. Economische onafhankelijkheid van een natie. Globalisering. Mondialisering. --- Monetaire buitenlandse politiek. Deviezenpolitiek--Azië --- -Congresses --- Congresses --- Conferences - Meetings --- 339.74 <5> Monetaire buitenlandse politiek. Deviezenpolitiek--Azië --- 332.456099 --- Government policy&delete& --- Econometrie van de internationale handel. Handelsbalans, betalingsbalans. Wissel --- Theorie van het deviezenverkeer. Theorie van de koopkrachtpariteit --- Theorie van het internationale evenwicht. Economische onafhankelijkheid van een natie. Globalisering. Mondialisering --- Balans van het kapitaalverkeer: algemeenheden --- Business, Economy and Management --- Economics --- Foreign exchange - Government policy - Pacific Area - Congresses. --- Monetary policy - Pacific Area - Congresses.