IMES Discussion Paper Series 2020
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.
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| No./Main Category | Author(s) | Title/Keywords | Date | Full Text (PDF) |
|---|---|---|---|---|
| 2020-E-15/Economics | Daisuke Ikeda | Digital Money as a Unit of Account and Monetary Policy in Open Economies
/Digital money; monetary policy; dollarization |
Dec. 25, 2020 | 1,142KB |
| 2020-E-14/Economics | Makoto Nirei, Nao Sudo | Necessities, Home Production, and Economic Impacts of Stay-at-Home Policies
/Stay-at-home policies; Home production; Stone-Geary Preference; Sectoral spillover |
Dec. 25, 2020 | 1,695KB |
| 2020-E-13/Economics | Felipe Benguria, Hidehiko Matsumoto, Felipe Saffie | Productivity and Trade Dynamics in Sudden Stops
/Endogenous growth; Firm dynamics; Trade dynamics; Sudden Stops |
Oct. 20, 2020 | 1,136KB |
| 2020-E-12/Economics | Tomoaki Kotera | Sustainability of Social Security in the Aging Economy from the Perspective of Improving Health
/Elderly Workers; Health; Social Security Reform; Benefit Claim; Overlapping Generations |
Aug. 7, 2020 | 558KB |
| 2020-E-11/Finance | Daisuke Miyakawa, Kohei Shintani | Disagreement between Human and Machine Predictions
/Machine Learning; Human Prediction; Disagreement |
Aug. 7, 2020 | 394KB |
| 2020-E-10/Economics | Daisuke Ikeda, Shangshang Li, Sophocles Mavroeidis, Francesco Zanetti | Testing the Effectiveness of Unconventional Monetary Policy in Japan and the United States
/Effective lower bound; unconventional monetary policy; structural VAR |
Jul. 31, 2020 | 905KB |
| 2020-E-9/Finance | Toshiaki Ogawa, Masato Ubukata, Toshiaki Watanabe | Stock Return Predictability and Variance Risk Premia around the ZLB
/Excess returns; Heterogeneous autoregressive model; Nikkei 225; Realized volatility; S&P500; Variance risk premium; Zero lower bound |
Jul. 9, 2020 | 1,043KB |
| 2020-E-8/Economics | Shingo Watanabe | Investment-Specific Technology Shocks Revisited
/investment-specific technology; total factor productivity; labor productivity; relative price of investment; structural vector autoregression; Max Share |
Jun. 29, 2020 | 690KB |
| 2020-E-7/Finance | Kei-Ichiro Inaba | A Global Look into Corporate Cash after the Global Financial Crisis
/Corporate finance; Cash holdings; Precautionary saving motive; Corporate governance; Agency problem |
Jun. 12, 2020 | 1,477KB |
| 2020-E-6/History | Masanao Itoh, Yasuko Morita, Mari Ohnuki | Monetary Policy in the 1990s: Bank of Japan's Views Summarized Based on the Archives and Other Materials
/Monetary policy conduct; Disposal of nonperforming loans; Financial system crisis; Bank of Japan Act of 1997; Zero interest rate policy |
Mar. 30, 2020 | 1,666KB |
| 2020-E-5/Economics | Toshiaki Ogawa | Liquidity Management of Heterogeneous Banks during the Great Recession
/Great Recession; Bank liquidity management; Occasionally binding constraints; Heterogeneous bank model; General equilibrium model |
Mar. 23, 2020 | 2,806KB |
| 2020-E-4/Economics | Giancarlo Corsetti, Luca Dedola, Sylvain Leduc | Exchange Rate Misalignment and External Imbalances: What is the Optimal Monetary Policy Response?
/Currency misalignments; trade imbalances; asset markets and risk sharing; optimal targeting rules; international policy cooperation; exchange rate pass-through |
Mar. 23, 2020 | 1,029KB |
| 2020-E-3/Economics | Toshiaki Ogawa | Welfare Implications of Bank Capital Requirements under Dynamic Default Decisions
/Bank capital requirements; Occasionally binding constraints; Endogenous default; Entry and exit; General equilibrium model |
Mar. 13, 2020 | 1,662KB |
| 2020-E-2/Economics | Pierre L. Siklos | Looking into the Rear-View Mirror: Lessons from Japan for the Eurozone and the U.S?
/Bank of Japan; monetary policy regimes; deflation; central bank credibility |
Mar. 6, 2020 | 1,671KB |
| 2020-E-1/Finance | Kei-Ichiro Inaba | The Integration of Countries' Sovereign Bond Markets: An Empirical Illustration of a Global Financial Cycle
/Sovereign bonds; Market integration; Global financial cycle; Monetary policy; Capital control |
Feb. 28, 2020 | 1,325KB |