{"product_id":"monetary-policy-with-very-low-takatoshi-ito-9780226378978","title":"Monetary Policy with Very Low Inflation in the Pacific Rim: Volume 15","description":"Extremely low inflation rates have moved to the forefront of monetary policy discussions. In Asia, a number of countries--most prominently Japan, but also Taiwan and China--have actually experienced deflation over the last fifteen years. \u003ci\u003eMonetary Policy with Very Low Inflation in the Pacific Rim\u003c\/i\u003e explores the factors that have contributed to these circumstances and forecasts some of the potential challenges faced by these nations, as well as some potential solutions.\u003cbr\u003eThe editors of this volume attribute low inflation and deflation in the region to a number of recent phenomena. Some of these episodes, they argue, may be linked to rapid growth on the supply side of economies. Here, inadequate demand policy can produce what is referred to as a \"liquidity trap\" in which the expectation of falling prices encourages agents to defer costly purchases, thereby discouraging growth. Low inflation rates can also be traced to the presence of a \"zero-lower bound\" on interest rates, as well as the inflation-targeting phenomenon. Targets have been set so low, the editors argue, that in some cases a few bad shocks lead to deflation.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Takatoshi Ito\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 0226378977\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9780226378978\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e University of Chicago Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 10\/15\/2006\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 424\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.55lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.22h x 6.34w x 1.09d","brand":"Takatoshi Ito","offers":[{"title":"Hardcover","offer_id":48086408298751,"sku":"9780226378978","price":125.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_b9d82f2a-a665-4058-b919-22c0f7d5c936.jpg?v=1769094500","url":"https:\/\/www.whiterainbookhouse.com\/products\/monetary-policy-with-very-low-takatoshi-ito-9780226378978","provider":"WR Book House","version":"1.0","type":"link"}