{"created":"2021-03-01T07:02:22.073218+00:00","id":42473,"links":{},"metadata":{"_buckets":{"deposit":"16b4df72-0879-429d-ac71-d3e1ad74c156"},"_deposit":{"id":"42473","owners":[],"pid":{"revision_id":0,"type":"depid","value":"42473"},"status":"published"},"_oai":{"id":"oai:repository.dl.itc.u-tokyo.ac.jp:00042473","sets":["62:7433:7434","9:7435:7436"]},"item_8_biblio_info_7":{"attribute_name":"書誌情報","attribute_value_mlt":[{"bibliographicIssueDates":{"bibliographicIssueDate":"2003-12","bibliographicIssueDateType":"Issued"},"bibliographicVolumeNumber":"2003-CF-251","bibliographic_titles":[{"bibliographic_title":"Discussion paper series. CIRJE-F"}]}]},"item_8_description_13":{"attribute_name":"フォーマット","attribute_value_mlt":[{"subitem_description":"application/pdf","subitem_description_type":"Other"}]},"item_8_description_5":{"attribute_name":"抄録","attribute_value_mlt":[{"subitem_description":"A cornerstone of monetary policy making is that a looser monetary policy is associated with lower interest rates, higher growth of narrow monetary aggregates, higher output and higher inflation. These responses, which we collectively refer to as the liquidity effect hypothesis, are at odds with some of the leading theoretical models of money. This paper proposes and implements a quasi-Bayesian methodology that allows us to compare the liquidity effect hypothesis with two other hypotheses: the sticky price hypothesis and the inflation tax hypothesis. Our results indicate that there is evidence against the liquidity effect hypothesis in U.S. data, but that a skeptical Bayesian decision maker would still assign most posterior weight it. For Japan, in contrast, even a skeptic would end up favoring the sticky price hypothesis.","subitem_description_type":"Abstract"}]},"item_8_description_6":{"attribute_name":"内容記述","attribute_value_mlt":[{"subitem_description":"本文フィルはリンク先を参照のこと","subitem_description_type":"Other"}]},"item_8_publisher_20":{"attribute_name":"出版者","attribute_value_mlt":[{"subitem_publisher":"日本経済国際共同センター"}]},"item_8_relation_25":{"attribute_name":"関係URI","attribute_value_mlt":[{"subitem_relation_type_id":{"subitem_relation_type_id_text":"http://www.cirje.e.u-tokyo.ac.jp/research/dp/2003/2003cf251ab.html","subitem_relation_type_select":"URI"}}]},"item_8_source_id_10":{"attribute_name":"書誌レコードID","attribute_value_mlt":[{"subitem_source_identifier":"AA11450569","subitem_source_identifier_type":"NCID"}]},"item_8_subject_15":{"attribute_name":"日本十進分類法","attribute_value_mlt":[{"subitem_subject":"330","subitem_subject_scheme":"NDC"}]},"item_8_text_21":{"attribute_name":"出版者別名","attribute_value_mlt":[{"subitem_text_value":"Center for International Research on the Japanese Economy"}]},"item_8_text_4":{"attribute_name":"著者所属","attribute_value_mlt":[{"subitem_text_value":"University of Tokyo"},{"subitem_text_value":"Yokohama National University"}]},"item_access_right":{"attribute_name":"アクセス権","attribute_value_mlt":[{"subitem_access_right":"metadata only access","subitem_access_right_uri":"http://purl.org/coar/access_right/c_14cb"}]},"item_creator":{"attribute_name":"著者","attribute_type":"creator","attribute_value_mlt":[{"creatorNames":[{"creatorName":"Braun, R. Anton"}],"nameIdentifiers":[{"nameIdentifier":"97734","nameIdentifierScheme":"WEKO"}]},{"creatorNames":[{"creatorName":"Shioji, Etsuro"}],"nameIdentifiers":[{"nameIdentifier":"97735","nameIdentifierScheme":"WEKO"}]}]},"item_keyword":{"attribute_name":"キーワード","attribute_value_mlt":[{"subitem_subject":"Monetary Policy","subitem_subject_scheme":"Other"},{"subitem_subject":"Economic Activity","subitem_subject_scheme":"Other"},{"subitem_subject":"Japan","subitem_subject_scheme":"Other"},{"subitem_subject":"United States","subitem_subject_scheme":"Other"}]},"item_language":{"attribute_name":"言語","attribute_value_mlt":[{"subitem_language":"eng"}]},"item_resource_type":{"attribute_name":"資源タイプ","attribute_value_mlt":[{"resourcetype":"technical report","resourceuri":"http://purl.org/coar/resource_type/c_18gh"}]},"item_title":"Monetary Policy and Economic Activity in Japan and the United States","item_titles":{"attribute_name":"タイトル","attribute_value_mlt":[{"subitem_title":"Monetary Policy and Economic Activity in Japan and the United States"}]},"item_type_id":"8","owner":"1","path":["7436","7434"],"pubdate":{"attribute_name":"公開日","attribute_value":"2013-06-03"},"publish_date":"2013-06-03","publish_status":"0","recid":"42473","relation_version_is_last":true,"title":["Monetary Policy and Economic Activity in Japan and the United States"],"weko_creator_id":"1","weko_shared_id":null},"updated":"2022-12-19T04:15:30.043114+00:00"}