Barrel (Otaru University of Commerce)
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An Auditor's Choice in the Going Concern Problems : Focusing on the Validity of Information Included in the Explanatory Paragraph of the Auditor's Report, No.15
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Bouletic/Deontic Modality, Liberalism and Social Choice
Get PDF会議名:2019年度人工知能学会全国大会(第33回):The 33th Annual Conference of the Japanese Society for Artificial Intelligence, 2019journal articl
Management Scholar's Kokoro-Ⅲ: An Interview with Dr. Hideki Yoshihara
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Dynamic Monetary Policy : Preventing Bubbles and Promoting Growth
Get PDFWe present a new paradigm for monetary policy based on a dynamic price index (DPI). Traditionally, central banks have used a static price index such as CPI for monetary policy. However, CPI fails to capture the intertemporal cost-of-living and the dynamic aspect of inflation. This myopic failure has often led to financial bubbles and economic crises. A dramatic example is Japan’s bubble burst in 1990, from which Japan could not recover for decades. Such policy mistakes can be avoided if central banks use DPI, which captures dynamic inflation and deflation adjusted for productivity changes. We propose a dynamic monetary policy with an optimal DPI target zone that can prevent bubbles and promote growth.departmental bulletin pape