Can we explain the policymaking of the Bank of Japan during the lost 20 years with the social learning theory?

Diplôme Master Can we explain the policymaking of the Bank of Japan during the lost 20 years with the social learning theory? eng 2022-01-21 author de Freitas Pereira Vergilio 806403 director Pontusson Harry Jonas 0000-0001-8550-9022 730283 <p>Japan, although currently the world's third largest economy behind the United States and China, has faced many challenges in recent years. The period from 1990 to 2010, in Japan, is even often referred to as "the lost 20 years". This name, which does not evoke anything positive, refers to a period when Japan faced weak economic growth and persistent deflation despite relatively low interest rates. During this period, the Bank of Japan has made many attempts to deal with this long crisis. It was a pioneer in developing and implementing so-called unconventional monetary policies. These monetary policies, such as quantitative easing, are now used by the majority of the world's major central banks, such as the FED. In this paper, I analyse and try to understand how the Bank of Japan made its monetary policy decisions during the last 20 years. I use social learning theory, to which I make several modifications, as a tool to analyse the policymaking of the Bank of Japan during the lost 20 years. Thanks to that, the paper also provides a reflection on the theory of social learning, described by Hall in his article of 1993. This reflection on social learning has made it possible to make social learning more general, which makes it possible to use this theory in a multitude of other cases. The other major contribution of this thesis is that it offers an innovative analysis of the policymaking of the Bank of Japan during the lost 20 years. In addition to this, I provide several other insights into the Bank's policymaking in the literature review.</p> Swiss Regional Banks Dewey 330 Dewey 330.9 Master in Political Economy of Capitalism 193 Institut d'histoire économique Paul Bairoch TE 123 Département d'histoire, économie et société T5 false c1327177-baa0-4a49-b281-f0c34d7ae242 Master thesis Public Master Thesis Vergilio De Freitas P.pdf 1016659 application/pdf openAccess Faculté des sciences de la société / Institut d'histoire économique Paul Bairoch Faculté des sciences de la société / Département d'histoire, économie et société

Title	Published in	Access level	OA Policy	Year	Views	Downloads

Can we explain the policymaking of the Bank of Japan during the lost 20 years with the social learning theory?				2022	279	844

Archive ouverte UNIGE

de Freitas Pereira, Vergilio