Authors:
Wee-Yeep Lau Department of Decision Science, Faculty of Business and Economics, Universiti Malaya, Kuala Lumpur, , Malaysia

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Tien-Ming Yip Department of Decision Science, Faculty of Business and Economics, Universiti Malaya, Kuala Lumpur, , Malaysia

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Abstract

This study measures the effectiveness of monetary transmission channels of the Bank of Japan's (BOJ) Quantitative and Qualitative Monetary Easing (QQE) policy in affecting Japan's inflation rate. The monetary transmission channels are interest rate, portfolio rebalancing and foreign exchange rate channels. Based on data from 1 August 2013 to 31 October 2019, the Granger's Causality Test showed that the interest rate channel was vital in transmitting the effect of monetary easing. Specifically, the interest rate channel transmitted the effect of QQE, QQE with a negative interest rate and QQE with yield curve control policy to the domestic price level. Portfolio rebalancing and foreign exchange rate channels did not influence Japan's inflation rate in all the QQE policy periods. The empirical results are robust against different estimation methods. Based on the findings, the study offers some imperative policy recommendations.

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Senior editors

Editor(s)-in-Chief: Prof. Dr. Mihályi, Péter

Editor(s): Ványai, Judit

Editorial Board

  • Ádám Török (Chairman) / University of Pannonia; Budapest University of Technology and Economics
  • Edina Berlinger / Corvinus University of Budapest, Department of Finance
  • Beáta Farkas / Faculty of Economics and Business Administration, University of Szeged
  • Péter Halmai / Budapest University of Technology and Economics; National University of Public Service
  • István Kónya / Institute of Economics Centre for Regional and Economic Studies, University of Pécs
  • János Köllő / Institute of Economics Centre for Regional and Economic Studies
  • István Magas / Corvinus University of Budapest, Department of World Economy; University of Physical Education, Department. of Sports and Decision Sciences
 

Advisory Board

  • Ǻslund, Anders, Institute of International Economics, Washington (USA)
  • Kolodko, Grzegorz, Kozminski University, Warsaw (Poland)
  • Mau, Vladimir, Academy of National Economy (Russia)
  • Messerlin, Patrick A, Groupe d’Economie Mondiale (France)
  • Saul Estrin, London School of Economics (UK)
  • Wagener, Hans-Jürgen, Europa Universität Viadrina (Germany)

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary
E-mail: vanyai.judit@krtk.hu  

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2022  
Web of Science  
Total Cites
WoS
314
Journal Impact Factor 0.8
Rank by Impact Factor

Economics 334/380
TBA

Impact Factor
without
Journal Self Cites
0.6
5 Year
Impact Factor
0.8
Journal Citation Indicator 0.29
Rank by Journal Citation Indicator

Economics 421/581

 

Scimago  
Scimago
H-index
18
Scimago
Journal Rank
0.23
Scimago Quartile Score

Economics and Econometrics Q3

Scopus  
Scopus
Cite Score
1.1
Scopus
CIte Score Rank
Economics and Econometrics 521/705 (26th PCTL)
TBA
Scopus
SNIP
0.540

2021  
Web of Science  
Total Cites
WoS
285
Journal Impact Factor 0,939
Rank by Impact Factor Economics 326/379
Impact Factor
without
Journal Self Cites
0,646
5 Year
Impact Factor
0,740
Journal Citation Indicator 0,34
Rank by Journal Citation Indicator Economics 389/570
Scimago  
Scimago
H-index
15
Scimago
Journal Rank
0,285
Scimago Quartile Score Economics and Econometrics (Q3)
Scopus  
Scopus
Cite Score
1,4
Scopus
CIte Score Rank
Economics and Econometrics 436/696 (Q3)
Scopus
SNIP
0,507

2020  
Total Cites 275
WoS
Journal
Impact Factor
0,875
Rank by Economics 325/377 (Q4)
Impact Factor  
Impact Factor 0,534
without
Journal Self Cites
5 Year 0,500
Impact Factor
Journal  0,38
Citation Indicator  
Rank by Journal  Economics 347/549 (Q3)
Citation Indicator   
Citable 37
Items
Total 37
Articles
Total 0
Reviews
Scimago 13
H-index
Scimago 0,292
Journal Rank
Scimago Economics and Econometrics Q3
Quartile Score  
Scopus 225/166=1,4
Scite Score  
Scopus Economics and Econometrics 392/661 (Q3)
Scite Score Rank  
Scopus 0,668
SNIP  
Days from  289
submission  
to acceptance  
Days from  447
acceptance  
to publication  

2019  
Total Cites
WoS
212
Impact Factor 0,914
Impact Factor
without
Journal Self Cites
0,728
5 Year
Impact Factor
0,650
Immediacy
Index
0,156
Citable
Items
45
Total
Articles
45
Total
Reviews
0
Cited
Half-Life
3,9
Citing
Half-Life
9,5
Eigenfactor
Score
0,00015
Article Influence
Score
0,052
% Articles
in
Citable Items
100,00
Normalized
Eigenfactor
0,01891
Average
IF
Percentile
28,437
Scimago
H-index
12
Scimago
Journal Rank
0,439
Scopus
Scite Score
214/165=1,3
Scopus
Scite Score Rank
Economics and Econometrics 355/637 (Q3)
Scopus
SNIP
0,989

 

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Acta Oeconomica
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