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Monetary and Economic Studies


Monetary and Economic Studies is published each year, by the Bank of Japan's Institute for Monetary and Economic Studies (IMES). In line with IMES policy, the publication seeks to provide information on monetary and economic issues to the general public. Articles include research achievements by the staff and visiting scholars, and selected works from the proceedings of conferences sponsored by IMES.

Views expressed in Monetary and Economic Studies are those of the authors and do not necessarily reflect those of the Bank of Japan or IMES.

Click the title to obtain an abstract of the thesis

Vol.27 / November 2009

Table : Vol.27 / November 2009
Author(s) Title/Keywords Full Text (PDF)
Shigenori Shiratsuka, Wataru Takahashi, Kozo Ueda 2009 International Conference "Financial System and Monetary Policy Implementation" Summary 77 KB
Masaaki Shirakawa 2009 International Conference "Financial System and Monetary Policy Implementation," Opening Speech Financial System and Monetary Policy Implementation: Long and Winding Evolution in the Way of Thinking 34 KB
Bennett T. McCallum 2009 International Conference "Financial System and Monetary Policy Implementation," Keynote Speech, The Role of "Determinacy" in Monetary Policy Analysis
/Determinacy; Learnability; Rational expectations; Multiple solutions; Monetary policy
184 KB
Maurice Obstfeld 2009 International Conference "Financial System and Monetary Policy Implementation," Keynote Speech, Lenders of Last Resort in a Globalized World
/Lender of last resort; Financial crisis; Central banking; International monetary system; International Monetary Fund
229 KB
Toshihiko Mukoyama On the Establishment Dynamics in the United States and Japan
/Establishment dynamics; Sectoral composition; Industry dynamics model; Reallocation
287 KB
Rasmus Fatum Official Japanese Intervention in the JPY/USD Exchange Rate Market: Is It Effective, and through Which Channel Does It Work?
/Exchange rates; Foreign exchange market intervention; Channels of transmission
309 KB
Patrick McGuire Bank Ties and Firm Performance in Japan: Some Evidence since Fiscal 2002
/Cross-shareholding; Main bank; Japanese banks; Firm performance
720 KB
Ichiro Fukunaga, Masashi Saito Asset Prices and Monetary Policy
/Asset prices; Monetary policy; Financial frictions; Policy trade-offs
421 KB
Shigeaki Fujiwara Credit Risk Assessment Considering Variations in Exposure: Application to Commitment Lines
/Commitment lines; Probability of default; Loss given default; Exposure at default; Expected loss; Unexpected loss
677 KB
Takashi Shibata, Tetsuya Yamada Dynamic Model of Credit Risk in Relationship Lending: A Game-Theoretic Real Options Approach
/Credit risk; Relationship lending; Real option; Game theory; Concentration risk
528 KB
Takashi Nanjo, Makoto Kasuya Part-Paid Stock, Corporate Finance, and Investment: Economic Consequences of the Part-Paid Stock System and Supplementary Installments in Early 1930s Japan
/Part-paid stock; Joint-stock company; Corporate finance; Investment; Financial system; Interwar period; Great Depression
273 KB