Fiscal and Monetary Policies

  • Ifo Institute for Economic Research
  • Sakura Institute of Research


The four ultimate objectives of macro-economic policy based on fiscal and monetary policies are (1) economic growth, (2) the securing of employment, (3) price stability and (4) the equilibrium of international balance of payments. The balanced attainment of these goals enables a country to achieve sustained economic development. Under a market economy, the distribution of funds through the economy as a whole is essentially left to the financial and capital markets. However, in order to maintain stable macro-economic conditions, the government must play a role that complements market mechanisms. For this reason, the boundary between the public and private sectors has continually shifted in accordance with the level of economic development and the internal and external economic environment.


Monetary Policy Central Bank Fiscal Policy Money Supply Money Demand 


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


Literature to 8.1

  1. Hayashi T, Imai K (eds) (1994) Survey of Japanese public finances, 4th edn ( Nihon Zaisei Youran, Daiyonhan). University of Tokyo Press, TokyoGoogle Scholar
  2. Kawaguchi S, Furukawa A (eds) (1992) The monetary policy of modern Japan (Gendai Nihonno Kinyuuseisaku). Toyo Keizai Shinpo-Sha, TokyoGoogle Scholar
  3. Koizumi S, Honma M (eds) (1993) Analysis of the Japanese-style market system (Nihongata Shijoushisutemuno Kaimei). Yuhikaku, TokyoGoogle Scholar
  4. Kuroda I (ed) (1995) The monetary system of our country, rev edn (Shinpan Wagakunino Kinyuuseido). Institute for Monetary and Economic Studies, Bank of Japan, TokyoGoogle Scholar
  5. Ministry of Finance, Director, Research and Planning Division, Minister’s Secretariat (ed) Illustrated public finances of Japan, annual edn (Zusetsu Nihonno Zaisei). Toyo Keizai Shinpo-Sha, TokyoGoogle Scholar
  6. Miyazaki I (1990) The Japanese economy (Nihonkeizai). Simul, TokyoGoogle Scholar
  7. Moriguchi S (1988) Treatise on the Japanese economy (Nihonkeizairon). Soubun-Sha, TokyoGoogle Scholar
  8. Nihon Keizai Shinbun (ed) (1988) Strides in the Showa era, vol 1. The Japanese economy (Showano Ayumi 1 “Nihonno Keizai”). Nihon Keizai Shinbun, TokyoGoogle Scholar
  9. Nishimura Y (ed) (1994) Fiscal and monetary policy for economic rehabilitation and growth (Fukkouto Seichouno Zaiseikinyuuseisaku). Printing Bureau, Ministry of Finance, TokyoGoogle Scholar
  10. Suzuki Y (1993) Japanese monetary policy (Nihonno Kinyuuseisaku). Iwanami Shoten, TokyoGoogle Scholar
  11. Yoshida Y (1989) A macroscopic view of the Japanese economy (Makurokaramita Nihonkeizai). Nippon Hyoron-Sha, TokyoGoogle Scholar

Copyright information

© Springer Japan 1997

Authors and Affiliations

  • Ifo Institute for Economic Research
  • Sakura Institute of Research

There are no affiliations available

Personalised recommendations