Lessons from the Bank of Japan for the euro area
The decision of the Bank of Japan end of October 2014 to significantly expand its asset-buying programme came as a surprise. The yen weakened and stock markets rallied. The decision taken with only a small majority by th...Read more
So far apart and yet so close: Should the ECB care about inflation differentials?
Inflation rates can differ across regions of monetary unions. We show that in the euro area, the US, Canada, Japan and Australia, inflation rates have been substantially and persistently different in different regions. D...Read more
Japan and the EU in the global economy
Why is Japan a good case study to help Europe overcome the economic and ﬁnancial crisis that started more than ﬁve years ago? What can Japan learn from Europe’s experience? Japan and the EU are both open econ...Read more