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IMES Discussion Paper Series 2016

IMES Discussion Paper Series (DPS) 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.

Click the title to obtain an abstract of the thesis

IMES Discussion Paper Series
No./Main Category Author(s) Title/Keywords Date Full Text (PDF)
2016-E-13/Finance Toshiyuki Sakiyama, Tetsuya Yamada Market Liquidity and Systemic Risk in Government Bond Markets: A Network Analysis and Agent-Based Model Approach
/Market Liquidity; Government bond markets; Quantitative and Qualitative Easing; Network analysis; Systemic risk; Agent-based model
Oct. 20, 2016 1,266KB
2016-E-12/Finance Kentaro Iwatsubo, Tomoki Taishi Quantitative Easing and Liquidity in the Japanese Government Bond Market
/Monetary Policy; Quantitative Easing; Liquidity; Government Bond
Oct. 7, 2016 633KB
2016-E-11/Economics Richard Dennis Durations at the Zero Lower Bound
/Monetary policy; zero lower bound; New Keynesian
Aug. 25, 2016 504KB
2016-E-10/Economics Ippei Fujiwara, Timothy Kam, Takeki Sunakawa Sustainable International Monetary Policy Cooperation
/Monetary policy cooperation; Sustainable plans; Welfare
Aug. 17, 2016 543KB
2016-E-9/Economics Tetsuya Adachi, Takashi Asano, Tatsushi Okuda Simultaneous Estimation of Cost of Equity and Expected Earnings of Individual Firms with the Residual Income Model
/Implied cost of equity; Residual income model; Quasi-maximum likelihood approach
Aug. 4, 2016 866KB
2016-E-8/Economics Hiroshi Fujiki, Charles M. Kahn Choice of Collateral Asset and the Cross-Border Effect of Automatic Stays
/repo market; the exemption from automatic stays; collateral; cross-border financial transaction
Jul. 28, 2016 545KB
2016-E-7/Finance Naoshi Tsuchida, Toshiaki Watanabe, Toshinao Yoshiba The Intraday Market Liquidity of Japanese Government Bond Futures
/Japanese government bond (JGB); market liquidity; liquidity indicator; transaction data
Jul. 22, 2016

Revised on Sept. 29, 2016
2016-E-6/Economics Yasufumi Gemma Money Illusion Matters for Consumption-Saving Decision-Making: An Experimental Investigation
/Consumption-saving decision-making; Money illusion; Economic experiment
Apr. 20, 2016 412KB
2016-E-5/Economics Takemasa Oda Optimal Inflation Rate in a Life-Cycle Economy
/Friedman rule; Zero lower bound; Tobin effect; Inflation tax; Redistribution
Apr. 13, 2016 316KB
2016-E-4/Economics Sohei Kaihatsu, Koichiro Kamada, Mitsuru Katagiri Theoretical Foundations for Quantitative Easing
/Liquidity trap; Quantitative easing; Monetary policy rule
Mar. 31, 2016 484KB
2016-E-3/Economics Pierre L. Siklos Forecast Disagreement and the Inflation Outlook: New International Evidence
/forecast disagreement; inflation; central bank communication
Mar. 17, 2016 973KB
2016-E-2/Economics Kenji Suganuma Upstreamness in the Global Value Chain: Manufacturing and Services
/Upstreamness; Global value chain; Production fragmentation; I-O tables
Feb. 29, 2016 860KB
2016-E-1/Economics Daisuke Ikeda, Yasuko Morita The Effects of Barriers to Technology Adoption on Japanese Prewar and Postwar Economic Growth
/Japan; Barriers to technology adoption; Investment specific technology; Catch-up; Postwar miracle
Jan. 27, 2016 423KB