浅议定量宽松政策在日本的实践与效果

Practice of quantitative easing policy in Japan and its effects

该文介绍了日本实施定量宽松政策的由来与历史背景,详述了这一非常规货币政策的具体措施及其所取得的实际效果。虽然理论上仍存有异议,但是定量宽松政策有利于重塑市场预期,并为欧美等国应对次贷危机提供了宝贵的实践经验。

This paper explains why Japan has applied the quantitative easing policy and how this unconventional monetary policy has worked. Although disagreement remains in theory, the quantitative easing policy played a big role in remolding market expectations and provided valuable practical experience for Europe and the US in dealing with the subprime mortgage crisis.