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IMES Discussion Paper Series

2002

IMES Discussion Paper Series is circulated in order to stimulate discussion and comments. Views expressed in Discussion Paper Series are those of authors and do not necessarily reflect those of the Bank of Japan or the Institute for Monetary and Economic Studies.

Table : IMES Discussion Paper Series
No. Author(s) Title/Keywords Date Full Text (PDF)
2002-E-22 Takeshi Kimura, Hiroshi Kobayashi, Jun Muranaga, Hiroshi Ugai The Effect of the Increase in Monetary Base on Japan's Economy at Zero Interest Rates : An Empirical Analysis
/Monetary Policy, Quantitative Easing, Bayesian VAR, Satiation Level of Money Demand
2002-12 526 KB
2002-E-21 Shinichi NISHIYAMA The Cross-Euler Equation Approach to Intertemporal Substitution in Import Demand
/Euler Equation, Intertemporal Substitution, Import Demand, Cointegration
2002-11 393 KB
2002-E-20 Tomiyuki Kitamura, Ryoji Koike The Effectiveness of Forecasting Methods Using Multiple Information Variables
/Information variable, multivariate forecast, out-of-sample forecast, forecast combination
2002-11 689 KB
2002-E-19 Masahiro Fukuhara, Yasufumi Saruwatari An Analysis of Contagion in Emerging Currency Markets Using Multivariate Extreme Value Theory
/Contagion, Multivariate Extreme Value Theory, Currency, Survey, Graph
2002-11 1,477 KB
2002-E-18 Vittorio Corbo Exchange Rate Regimes in the Americas: Is Dollarization the Solution?
/Exchange Rate Systems, Inflation Targeting, Dollarization
2002-10 182 KB
2002-E-17 Masahiro KAWAI EXCHANGE RATE ARRANGEMENTS IN EAST ASIA: LESSONS FROM THE 1997-98 CURRENCY CRISIS
/East Asian currency crisis, exchange rate arrangements, two-corner solution approach, fear of floating, currency basket system
2002-09 264 KB
2002-E-16 Juergen von Hagen, Matthias Brueckner Monetary and Fiscal Policy in the European Monetary Union
/European Monetary Union, monetary policy, fiscal policy, Stability Pact
2002-09 241 KB
2002-E-15 Kyungho Jang, Masao Ogaki The Effects of Japanese Monetary Policy Shocks on Exchange Rates: A Structural Vector Error Correction Model Approach
/Vector Error Correction Model, Impulse Response, Monetary Policy Shock, Cointegration, Identification, Long Run Restriction
2002-09 557 KB
2002-E-14 Toshiaki WATANABE Measuring Business Cycle Turning Points in Japan with a Dynamic Markov Switching Factor Model
/Business cycles, Factor model, Gibbs sampling, Marginal Likelihood, Markov switching, Particle filter
2002-09 274 KB
2002-E-13 Ronald McKinnon, Gunther Schnabl Synchronized Business Cycles in East Asia: Fluctuations in the Yen/Dollar Exchange Rate and China's Stabilizing Role
/exchange rates, business cycles, East Asian dollar standard
2002-08 835 KB
2002-E-12 Maurice Obstfeld Exchange Rates and Adjustment: Perspectives from the New Open Economy Macroeconomics
/Exchange rate policy, international adjustment,expenditure-switching effects, elasticity pessimism, international competitiveness.
2002-08 389 KB
2002-E-11 Allan H. Meltzer New International Financial Arrangements
/Price and Exchange Rate Stability, Role of the IMF, Debt Resolution, Collective Action Clause
2002-08 52 KB
2002-E-10 Takashi NANJO Developments in Land Prices and Bank Lending in Interwar Japan: Effects of the Real Estate Finance Problem on the Banking Industry
/Interwar economy, Financial crisis, Showa Depression, Aset prices, Stability of the financial system
2002-08 191 KB
2002-E-9 Rishi Goyal, Ronald McKinnon Japan's Negative Risk Premium in Interest Rates: The Liquidity Trap and Fall in Bank Lending 2002-07 455 KB
2002-E-8 Mariko HATASE Devaluation and Exports in Interwar Japan: The Effects of Sharp Depreciation of the Yen in the Early 1930s
/exchange rate, export, gold embargo, interwar economy
2002-07 250 KB
2002-E-7 Masato SHIZUME Economic Developments and Monetary Policy Responses in Interwar Japan: Evaluation Based on the Taylor Rule
/monetary policy, monetary regime, gold standard system, interwar economy, Taylor Rule
2002-07 354 KB
2002-E-6 Sachiko Kuroda NAKADA Analysis of Changes in Japan's Unemployment Rate using Gross Flow Data
/unemployment rate, flow data analysis, discouraged worker effect, added worker effect, price-level projections using Phillips curve
2002-06 305 KB
2002-E-5 Akira Otani Pricing-to-Market (PTM) and the International Transmission Effect of Monetary Policy: The 'New Open-Economy Macroeconomics' Approach
/New open economy macroeconomics, PPP (purchasing power parity), PTM (pricing-to-market), Monetary policy, Beggar-thy-neighbor effect
2002-05 269 KB
2002-E-4 Hiroshi FUJIKI, Akira OTANI Do Currency Regimes Matter in the 21st Century? An Overview
/Bipolar view, the euro, Dollarization, regional currency area
2002-05 193 KB
2002-E-3 Masaaki SHIRAKAWA One Year Under 'Quantitative Easing'
/Quantitative Easing; Transmission Mechanism; Zero Interest Rate Boundary
2002-04 423 KB
2002-E-2 Yasuhiro YAMAI, Toshinao YOSHIBA Comparative Analyses of Expected Shortfall and Value-at-Risk (3): their validity under market stress
/Value-at-Risk, expected shortfall, market stress, tail risk, multivariate extreme value theory, tail dependence
2002-04 519 KB
2002-E-1 Naohiko BABA, Takamasa HISADA Japan's Financial System: Its Perspective and the Authorities' Roles in Redesigning and Administering the System
/Japan's financial system, Main bank system, IT innovation, Financial deregulation, Bank supervision, Public finance, Corporate governance
2002-02 316 KB