Japanese Demand for M1 and Demand Deposits: Cross-Sectional and Time-Series Evidence from Japan [PDF]
We investigate the relationship between money, short-term interest rates, and scale variables. We use three monetary aggregates: Ml, demand deposits, and cash currency in circulation.
Fujiki, Hiroshi, Watanabe, Kiyoshi
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Estimating the rank of the spectral density matrix [PDF]
The rank of the spectral density matrix conveys relevant information in a variety of statistical modelling scenarios. This note shows how to estimate the rank of the spectral density matrix at any given frequency.
Camba-Méndez, Gonzalo +1 more
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Model Selection and Adaptive Markov chain Monte Carlo for Bayesian Cointegrated VAR model
, 2010 This paper develops a matrix-variate adaptive Markov chain Monte Carlo (MCMC) methodology for Bayesian Cointegrated Vector Auto Regressions (CVAR).
Kannan, Balakrishnan +3 more
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The fading 1990s in Japan: Driving forces behind the unemployment upsurge [PDF]
This paper sheds new light on the causes of the unemployment upsurge in Japan during the “fading 1990s”, an unprecedented period of structural crisis. We estimate a labor market model and identify the main macroeconomic determinants of labor demand and ...
Agnese, Pablo, Sala, Hector
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Monetary Policy in the Deflationary Economy; Japan\u27s Experience [PDF]
, 2010 The paper addresses the effectiveness of monetary policy in the prolonged Japan’s recession. A large amount of research has been aimed at the topic. A majority of the previous paper denies the effectiveness of monetary policy in the deflation.
Department of Economics, Kyoto Gakuen University +5 more
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Not All International Monetary Shocks are alike for the Japanese Economy [PDF]
, 2013 It is found that over 1999:1-2012:12 China’s monetary expansion influences Japan through the effect of China’s growth on world commodity prices, increased demand for imports, and exchange rate policy.
Ratti, R, Vespignani, JL
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A Monte Carlo comparison of Bayesian testing for cointegration rank [PDF]
This article considers a Bayesian testing for cointegration rank, using an approach developed by Strachan and van Dijk (2007), that is based on Koop, Leon-Gonzalez, and Strachan (2006).
Katsuhiro Sugita
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A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan [PDF]
Few papers have tried to project how Chinese monetary policy will behave under flexible exchange rates. As Japan provides an important role model for China, this paper studies the role of the yen/dollar exchange rate for Japanese monetary policy after ...
Christian Danne, Gunther Schnabl
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Financial Crisis of Finland, Sweden, Norway and Japan [PDF]
, 2009 The aim of the paper is to research the financial crisis occurred in Nordic countries and Japan in the early 1990s. The Nordic countries’ experiences of bubble, bust, and financial crisis are compared with Japan’s experience. These countries had suffered
Department of Economics, Kyoto Gakuen University +5 more
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Conference Summary: Money, Monetary Policy, and Transmission Mechanisms [PDF]
This article summarizes the proceedings of a conference hosted by the Bank of Canada in November 1999. Three major themes emerged at the conference. The first concerned uncertainty about the transmission mechanism by which monetary policy affects output ...
Kevin Clinton, Walter Engert
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