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IMES Discussion Paper Series

1999

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)
1999-E-28 Comments: Ronald I. Mckinnon, Allan H. Meltzer
Rejoinder: Kunio Okina
Monetary Policy Under Zero Inflation -A Response to Criticisms and Questions Regarding Monetary Policy- Comments and Rejoinder
/Monetary Policy, Zero Interest Rates, Long-term Interest Rates, Inflation Targeting, Outright Purchase of Government Bonds, Quantitative Easing, Excess Reserves, Base Monetary, Balance Sheet Problem, Liquidity Trap
1999-10 68 KB
1999-E-27 Robert J. Gordon The Boskin Commission Report and its Aftermath
/inflation, price measurement, quality change, new products
1999-09 146 KB
1999-E-26 Raj Bhala International Dimensions of Japanese Insolvency Law: A Contextual Approach
/Japanese insolvency law, international insolvency law, bank insolvencies
1999-09 331 KB
1999-E-25 William Roberds The Incentive Effects of Settlement Systems: A Comparison of Gross Settlement, Net Settlement, and Gross Settlement with Queuing
/Settlement, payment, queuing
1999-09 110 KB
1999-E-24 Masahiro Higo, Sachiko Nakada(Kuroda) What Determines the Relation between Output Gap and Inflation? - An International Comparison of Inflation Expectations and Staggered Wage Adjustment -
/Phillips Curve, NAIRU, Expected Inflation Rate, Price Adjustment, Output Gap, Inflation, Monetary Policy
1999-09 181 KB
1999-E-23 Shigenori Shiratsuka Measurement Errors in Japanese Consumer Price Index
/Consumer Price Index, Measurement Errors, Cost of Living Index, Quality Changes, Boskin Report
1999-09 223 KB
1999-E-22 Masahiro Higo What Can Inflation Expectations and Core Inflation Tell Us About Monetary Policy in Japan ?
/Asset Price, Business Cycle, Inflation Expectation, Inflation Targeting, Monetary Policy, Real Interest Rate, Trimmed Mean CPI
1999-08 142 KB
1999-E-21 Shigenori Shiratsuka Asset Price Fluctuation and Price Indices
/Asset Price, Intertemporal cost of living index, Dynamic equilibrium price index, Monetary policy, Information variable
1999-07 162 KB
1999-E-20 Kunio Okina Monetary Policy Under Zero Inflation -A Response to Criticisms and Questions Regarding Monetary Policy-
/Monetary Policy, Zero Interest Rates, Long-term Interest Rates, Inflation Targeting, Outright Purchase of Government Bonds, Quantitative Easing, Excess Reserves, Base Money, Balance Sheet Problem, Liquidity Trap
1999-07 154 KB
1999-E-19 Shuji Kobayakawa, Hisashi Nakamura A Theoretical Analysis of Narrow Banking Proposals
/bank run, narrow banks
1999-06 79 KB
1999-E-18 Patricia Hagan Kuwayama Postal banking in the United States and Japan: a comparative analysis
/U. S. postal savings, Japanese postal savings, deposit insurance, narrow bank
1999-06 155 KB
1999-E-17 Tatsuya Yonetani, Nobuyuki Oda Usefulness of Market Information and Accounting Information from the Perspective of Bank Supervisory Policy: An Empirical Study of Japanese Banks
/Market information, Accounting information, Option pricing theory, Bank performance predicting
1999-06 129 KB
1999-E-16 Jun Muranaga Dynamics of Market Liquidity of Japanese Stocks: An Analysis of Tick-by-tick Data of the Tokyo Stock Exchange 1999-05 255 KB
1999-E-15 Jun Muranaga, Tokiko Shimizu Expectations and Market Microstructure when Liquidity Is Lost 1999-05 369 KB
1999-E-14 Jun Muranaga, Tokiko Shimizu Market Microstructure and Market Liquidity 1999-05 190 KB
1999-E-13 James H. Stock Monetary Policy in a Changing Economy: Indicators, Rules, and the Shift Towards Intangible Output
/Knowledge-based economy, Time varying NAIRU, Taylor rule
1999-05 1,448 KB
1999-E-12 Robert J. Gordon Monetary Policy in the Age of Information Technology
/Information Technology, Multifactor Productivity, NAIRU, Solow Paradox
1999-05 140 KB
1999-E-11 Dale W. Jorgenson, Eric Yip WHATEVER HAPPENED TO PRODUCTIVITY INVESTMENT AND GROWTH IN THE G-7?
/Neoclassical growth theory, Investment and Productivity, Human capital, Intellectual capital, R&D, Sources of economic growth
1999-05 163 KB
1999-E-10 Masahiro Kuroda, Koji Nomura An Explanation of The Productivity Paradox: TFP Spillover through Capital Accumulation
/Solow Paradox, Total Factor Productivity, Measurement Error, Spillover of Technology
1999-05 517 KB
1999-E-9 Hal R. Varian Markets for Information Goods
/Information good, Experience good, Returns to scale, Previewing and browsing, Excludability, Intellectual property
1999-05 161 KB
1999-E-8 Curtis J. Milhaupt Japan's Experience with Deposit Insurance and Failing Banks: Implications for Financial Regulatory Design?
/Deposit Insurance, Bank Failure
1999-03 142 KB
1999-E-7 Milton H. Marquis The Joint and Several Effects of Liquidity Constraints, Financing Constraints, and Financial Intermediation on the Welfare Cost of Inflation
/inflation taxes, financing constraints, financial intermediation
1999-02 280 KB
1999-E-6 Hiroshi Fujiki, Edward. J. Green, Akira Yamakzaki Sharing the Risk of Settlement Failure: Synopsis
/settlement system, risk sharing, private information, mechanism design, core
1999-02 194 KB
1999-E-5 Hitoshi Mio, Masahiro Higo Underlying Inflation and the Distribution of Price Changes Evidence from the Japanese Trimmed Mean CPI
/underlying inflation, trimmed mean CPI, price change distribution, temporary relative price shock
1999-02 307 KB
1999-E-4 Michael F. Bryan, Stephen G. Cecchetti The Monthly Measurement of Core Inflation in Japan
/Inflation Measurement, Core Inflation, Trimmed Means, Median
1999-02 384 KB
1999-E-3 Tokiko Shimizu, Takashi Ui Contagious Expectations and Malfunctions of Markets: Some Lessons from Japanese Financial Institution Failures in 1997 1999-01 257 KB
1999-E-2 Jun Muranaga, Tokiko Shimizu Effect of Trading Halt System on Market Functioning: Simulation Analysis of Market Behavior with Artificial Shutdown
/Artificial market model, Feedback mechanism, Market crash, Trading halt system
1999-01 1,691 KB
1999-E-1 Yukinobu Kitamura, Shuji Kobayakawa Risk Accumulation, Contagion and The Rules for Bank Failure
/contagion, random walk, arc-sine theorem, closure rule, capital injection
1999-01 234 KB