Japan had experienced tenacious deflation in its economy for more than 10 years as of 2013, when its central bank took bold steps to stimulate the economy and push the inflation rate into positive territory. Economist Taisuke Nakata examines Japan’s record in inflation targeting and the lessons its spotty progress provides. This intelligent analysis, an important contribution to the literature on best practices available to central bankers worldwide, will interest economists, policy officials and financial professionals.
About the Author
Taisuke Nakata is an economist at the Board of Governors of the Federal Reserve System.