Why did monetary policy fail to work

Reference no: EM132127743

Question: In 1998 the Bank of Japan reduced the short-term interest rate to zero, yet the economy did not rally but remained in recession. Why did monetary policy fail to work? What else do you think the Bank of Japan could have done to stimulate real growth? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132127743

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