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Monetary and Economic Studies (2006)
December 20, 2006
Bank of Japan
Institute for Monetary and Economic Studies
Monetary and Economic Studies is published, in principle four times a year, by the Bank of Japan's Institute for Monetary and Economic Studies (IMES). In line with IMES policy, the publication seeks to provide information on monetary and economic issues to the general public. Articles include research achievements by the staff and visiting scholars, and selected works from the proceedings of conferences sponsored by IMES.
Views expressed in Monetary and Economic Studies are those of the authors and do not necessarily reflect those of the Bank of Japan or IMES.
Notice on copyright and other related matters regarding the site of the Institute for Monetary and Economic Studies.
 INDEX | ||
| Vol.24, No.S-1 / December 2006 | ||
| Vol.24, No.2 / November 2006 | ||
| Vol.24, No.1 / March 2006 | ||
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Vol.24, No.S-1 / December 2006
Author(s) | Title/Key words | Click to download |
| The Thirteenth International Conference "Financial Markets and the Real Economy in a Low Interest Rate Environment" | ||
| Kunio Okina and Naohiko Baba | Introduction Summary | |
| OPENING AND KEYNOTE SPEECHES | ||
| Toshihiko Fukui | Opening Speech | |
| Bennett T. McCallum | Misconceptions Regarding the Zero Lower Bound on Interest Rates /Interest rates; Zero lower bound; Quantitative easing; Expectations; Deflation trap; Liquidity trap | |
| Maurice Obstfeld | Implications for the Yen of Japanese Current Account Adjustment /Current account adjustment; International capital flows; Japanese yen exchange rate | |
| SESSION 1 | ||
| Naohiko Baba | Financial Market Functioning and Monetary Policy: Japan's Experience /Bank of Japan; Term structure of interest rates; Zero lower bound; Zero interest rates; Quantitative monetary easing policy; Bank risk premium | |
| SESSION 2 | ||
| Glenn D. Rudebusch, Eric T. Swanson, and Tao Wu | The Bond Yield "Conundrum" from a Macro-Finance Perspective /Term structure; Term premium; Bond pricing; Affine no-arbitrage model | |
| SESSION 3 | ||
| Jun Pan and Kenneth J. Singleton | Interpreting Recent Changes in the Credit Spreads of Japanese Banks /Default risk premium; Credit default swap; Japanese banks; Zero interest rate policy; Event risk | |
| SESSION 4 | ||
| Gauti B. Eggertsson and Benjamin Pugsley | The Mistake of 1937: A General Equilibrium Analysis /Deflation; Zero bound on interest rates; Regime changes; Great Depression | |
| SESSION 5 | ||
| Alessandra Fogli and Fabrizio Perri | The Great Moderation and the U.S. External Imbalance /Business cycle volatility; Precautionary saving; Current account; Net foreign asset position | |
| CONCLUDING PANEL DISCUSSION | ||
Stefan Ingves | Concluding Panel Discussion: Financial Markets and the Real Economy in a Low Interest Rate Environment | |
* Click the title to obtain an abstract of the thesis
Vol.24, No.2 / November 2006
Author(s) | Title/Key words | Click to download |
| Takeshi Amemiya and Xinghua Yu | Endogenous Sampling and Matching Method in Duration Models /Duration models; Endogenous sampling with matching; Maximum likelihood estimator; Manski-Lerman estimator; Asymptotic distribution | |
| Steven Li | The Arbitrage Efficiency of the Nikkei 225 Options Market: A Put-Call Parity Analysis /Put-call parity; Market efficiency; Nikkei 225 options | |
| Andrew K. Rose | Well-Being in the Small and in the Large /Population; Empirical; Data; National; Country; Scale; Size | |
| Hiroshi Fujiki and Etsuro Shioji | Bank Health Concerns, Low Interest Rates, and Money Demand: Evidence from the Public Opinion Survey on Household Financial Assets and Liabilities /Money demand; Low interest rates; Concern for the soundness of private financial institutions; Micro data; Self-selection bias; Personal financial education; Extensive margin; Intensive margin |
* Click the title to obtain an abstract of the thesis
Vol.24, No.1 / March 2006
Author(s) | Title/Key words | Click to download |
| Luc Bauwens | Econometric Analysis of Intra-Daily Trading Activity on the Tokyo Stock Exchange /Autoregressive conditional duration; Trade durations; High-frequency data; Tokyo Stock Exchange | |
| Jurgen von Hagen | Fiscal Rules and Fiscal Performance in the European Union and Japan /Fiscal policy; Political budget cycles; Government budgeting | |
| Akira Otani, Shigenori Shiratsuka, and Toyoichiro Shirota | Revisiting the Decline in the Exchange Rate Pass-Through: Further Evidence from Japan's Import Prices /Exchange rate pass-through; Pricing-to-market; Import structure; Expenditure-switching effect; Firms' sourcing decision |
* Click the title to obtain an abstract of the thesis
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