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6 - Abenomics, Monetary Policy, and Consumption

from Part III - Macroeconomic Policy

Published online by Cambridge University Press:  05 February 2021

By
Joshua K. Hausman ,
Takashi Unayama  and
Johannes F. Wieland
Edited by
Takeo Hoshi  and
Phillip Y. Lipscy
Takeo Hoshi
Affiliation:
University of Tokyo
Phillip Y. Lipscy
Affiliation:
University of Toronto
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Summary

This chapter provides 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 showed success, consumption growth was sluggish. Household-level data from the Family Income and Expenditure Survey suggest that this is in part because monetary policy did not have the predicted expansionary effect on household consumption, even for those households expected to benefit most.

Keywords

monetary policyconsumptionregime change
Type
Chapter
Information
The Political Economy of the Abe Government and Abenomics Reforms , pp. 139 - 169
Publisher: Cambridge University Press
Print publication year: 2021

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