Sustainability of the Bank of Japan's ETF Purchasing Policy

被引：0

作者：

Harada, Kimie ^{[1
]}

机构：

[1] Chuo Univ, Tokyo, Japan

来源：

ECONOMISTS VOICE | 2021年 / 18卷 / 01期

关键词：

Bank of Japan; unconventional monetary policy; ETF; quantitative easing;

D O I：

10.1515/ev-2021-0013

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The Bank of Japan is the only central bank that holds enormous amounts of stocks of listed companies by purchasing ETFs via its unconventional monetary policy measures. The Bank of Japan has been buying ETFs for more than a decade and, seemingly, has no awareness that it has become a huge investor in the stock market. This article explains how this policy has potentially distorted market mechanisms and how it is difficult to find an exit strategy.

引用

页码：109 / 113

页数：5

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