Book contents
- The Political Economy of the Abe Government and Abenomics Reforms
- The Political Economy of the Abe Government and Abenomics Reforms
- Copyright page
- Dedication
- Contents
- Figures
- Tables
- Contributors
- Acknowledgments
- Abbreviations
- Part I Introduction
- Part II Political Context
- Part III Macroeconomic Policy
- 6 Abenomics, Monetary Policy, and Consumption
- 7 The Great Disconnect
- 8 Abenomics, the Exchange Rate, and Markup Dynamics in Japanese Industries
- 9 The Crisis That Wasn’t
- Part IV Third Arrow of Abenomics
- Part V Foreign Policy
- Index
- References
6 - Abenomics, Monetary Policy, and Consumption
from Part III - Macroeconomic Policy
Published online by Cambridge University Press: 05 February 2021
Book contents
- The Political Economy of the Abe Government and Abenomics Reforms
- The Political Economy of the Abe Government and Abenomics Reforms
- Copyright page
- Dedication
- Contents
- Figures
- Tables
- Contributors
- Acknowledgments
- Abbreviations
- Part I Introduction
- Part II Political Context
- Part III Macroeconomic Policy
- 6 Abenomics, Monetary Policy, and Consumption
- 7 The Great Disconnect
- 8 Abenomics, the Exchange Rate, and Markup Dynamics in Japanese Industries
- 9 The Crisis That Wasn’t
- Part IV Third Arrow of Abenomics
- Part V Foreign Policy
- Index
- References
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.
- Type
- Chapter
- Information
- Publisher: Cambridge University PressPrint publication year: 2021
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