Category: Ethics

Is Japans Monetary Policy a Rational Expectations Saga

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The most striking feature of Japan’s monetary policy in recent years has been its lack of any rational expectations explanation. In fact, the most striking evidence for this point can be seen in the lack of even minimal empirical studies on Japan’s monetary policy or monetary theory in general. If Japan had a rational expectations theory, then why did the Bank of Japan’s monetary policy fail? The conventional wisdom on Japan’s policy failure in my view is a mixture of economic irrationality and monetary error. As a ,

Note on Valuing a Biotech Company

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