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Monetary and Economic Studies

2010

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.

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Vol.28 / November 2010

Table : Vol.28 / November 2010
Author(s) Title/Keywords Full Text (PDF)
Shigenori Shiratsuka, Wataru Takahashi, Yuki Teranishi, Kozo Ueda Future of Central Banking under Globalization: Summary of the 2010 International Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan 60 KB
Masaaki Shirakawa Future of Central Banks and Central Banking 46 KB
Bennett T. McCallum The Future of Central Banking: A Lesson from United States History
/Metallic standard; Fiat money; U.S. Constitution; Legal tender cases; Monetary versus fiscal policy
41 KB
William R. White The Mayekawa Lecture: Some Alternative Perspectives on Macroeconomic Theory and Some Policy Implications
/Macroeconomics; Bubble; Financial crisis
127 KB
Shigeru Iwata Monetary Policy and the Term Structure of Interest Rates When Short-Term Rates are Close to Zero
/Zero interest rates; Yield curve; Liquidity trap
532 KB
Shigenori Shiratsuka Size and Composition of the Central Bank Balance Sheet: Revisiting Japan's Experience of the Quantitative Easing Policy
/Quantitative easing; Credit easing; Unconventional monetary policy; Central bank balance sheet
1,311 KB
Kei Imakubo, Yutaka Soejima The Transaction Network in Japan's Interbank Money Markets
/Interbank market; Real-time gross settlement; Network; Small world; Core and periphery; Systemic risk
1,068 KB
Kei Imakubo, Yutaka Soejima The Microstructure of Japan's Interbank Money Market: Simulating Contagion of Intraday Flow of Funds Using BOJ-NET Payment Data
/Real-time gross settlement; Payment recycling; BOJ-NET
460 KB
Tetsuya Yamada Accelerated Investment and Credit Risk under a Low Interest Rate Environment: A Real Options Approach
/Low interest rate environment; Investment behavior; Credit risk; Real options model; Corporate finance; Time-inconsistent discount rate; Behavioral economics
694 KB