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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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IMES Discussion Paper Series
No./Main Category Author(s) Title/Keywords Date Full Text (PDF)
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 1,326KB