Macroeconomics 12th Edition by Rudiger Dornbusch ,Stanley Fischer,Richard Startz

تمرين 10

History Speaks 12-1 investigates the case of the liquidity trap in Japan, showing that interest rates have been virtually zero repeatedly in the late 1990s. Did these low interest rates manage to stimulate economic growth rates Go to www.stat.go.jp/english. Click on "Statistics" and scroll down to "Japan Statistical Yearbook." Click on "Chapter 3 National Accounts" and download Table 3-1B [Gross Domestic Product (Expenditure Approach) in Real Terms (Chain-linked Method)]. In EXCEL, transform the series to show percentage change from last year. [i.e., replace 1995 RGDP with change from last year: (1995 RGDP-1994 RGDP)/1994 RGDP.] Graph this series for the period since 1995. Compare the graph you obtained with Figure 1 in History Speaks 12-1. Did the low interest rates encourage growth