The purpose of this paper is to explain first the background and mechanism of Japan’s policy on monetary aggregates, second the changes in the monetary and financial system which began in the early 1980s and are still continuing, and third the implication of these changes for the Bank of Japan’s current policy on the management of monetary aggregates.


Interest Rate Monetary Policy Time Deposit Money Supply Financial Asset 
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Copyright information

© Stephen F. Frowen and Dietmar Kath 1992

Authors and Affiliations

  • Tatsuya Tamura

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