IMES Discussion Paper Series is circulated in order to stimulate discussion and
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No.
Author(s)
Title/Keywords
Date
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2003-E-15
Shigenori Shiratsuka Asset Price Bubble in Japan in the 1980s: Lessons for Financial and Macroeconomic Stability
/Asset price bubble; Financial stability; Macroeconomic stability, Sustainability
2003/12
264KB PDF**
2003-E-14
Jaebeom Kim
and Masao Ogaki
Purchasing Power Parity for Traded and Non-traded Goods: A Structural Error Correction Model Approach
/Structural Error Correction Model (SECM); Purchasing Power Parity; Real Exchange Rate; Half-life, Convergence Rate
2003/12
313KB PDF**
2003-E-13
Hiroyuki OI,
Akira OTANI,
Toyoichirou SHIROTA
The Choice of Invoice Currency in International Trade: Implications for the Internationalization of the Yen
/Invoice currency, LCP (local currency pricing), PCP (producer's currency pricing), internationalization of the yen, new open-economy macroeconomics, currency-basket regime
2003/10
361KB PDF
2003-E-12
Sachiko KURODA
and Isamu YAMAMOTO
The Impact of Downward Nominal Wage Rigidity on the Unemployment Rate: Quantitative Evidence from Japan
/Downward nominal wage rigidity; Unemployment rate; Inflation rate; Monetary policy; General equilibrium model with downward nominal wage rigidity
2003/10
435KB PDF
2003-E-11
Ryo KATO and
Shin-Ichi NISHIYAMA
Optimal Monetary Policy When Interest Rates are Bounded at Zero
/Deflation, Liquidity trap, Pre-emptive monetary policy, Zero bound
2003/10
460KB PDF
2003-E-10
Eisaku IDE Policy Debates on Public Finance between the Ministry of Finance and the Bank of Japan from 1930 to 1936
/the direct underwriting of deficit-financing bonds by the BOJ (BOJ underwriting); The Joint Research Committee; currency system; market operation by selling government bonds; continuing expenditure; deferred fiscal burden
2003/8
180KB PDF
2003-E-9
Keiko MURATA Precautionary Savings and Income Uncertainty: Evidence from Japanese Micro Data
/Precautionary savings; Uncertainty; Income risks; Uncertainty over public-pension benefits; Risk-sharing; Individual data; Longitudinal data
2003/7
327KB PDF
2003-E-8
Shin-Ichi NISHIYAMA Inflation Target as a Buffer against Liquidity Trap
/Deflation; Inflation Target; Liquidity Trap; Zero-Bound
2003/7
472KB PDF
2003-E-7
Tatsuya Ishikawa,
Yasuhiro Yamai,
Akira Ieda
On the Risk Capital Framework of Financial Institutions
/Risk capital, risk management, capital structure, capital budgeting, risk-adjusted rate of return, capital allocation, deadweight cost.
2003/7
147KB PDF
2003-E-6
David Andolfatto Monetary Implications of the Hayashi-Prescott Hypothesis for Japan
/Productivity Slowdown; Money Multiplier; Monetary Policy; Liquidity Trap
2003/7
241KB PDF**
2003-E-5
Kunio OKINA
and Shigenori SHIRATSUKA
Policy Commitment and Expectation Formations: Japan's Experience under Zero Interest Rates
/Zero Interest Rate Policy; Quantitative Monetary Easing; Policy Duration Effects; Policy Commitment
2003/6
889KB PDF**
2003-E-4
Sachiko KURODA,
Isamu YAMAMOTO
Are Japanese Nominal Wages Downwardly Rigid? (Part II): Examinations using a Friction Model
/Downward nominal wage rigidity; Inflation rate; Monetary policy; Longitudinal data; Measurement errors; Friction model; Simulated maximum likelihood
2003/6
513KB PDF
2003-E-3
Sachiko KURODA,
Isamu YAMAMOTO
Are Japanese Nominal Wages Downwardly Rigid? (Part I): Examinations of Nominal Wage Change Distributions
/Downward nominal wage rigidity; Inflation rate; Monetary policy; Longitudinal data; Nominal wage change distributions
2003/6
370KB PDF
2003-E-2
Makoto Saito and
Shigenori Shiratsuka
Precautionary Motives versus Waiting Options: Evidence from Aggregate Household Saving in Japan
/Precautionary savings, Waiting options, Flexibility, Risks, The resolution of uncertainty
2003/6
292KB PDF**
2003-E-1
Akira Otani,
Shigenori Shiratsuka, and
Toyoichiro Shirota
The Decline in the Exchange Rate Pass-Through: Evidence from Japanese Import Prices
/Exchange rate pass-through, Pricing-to-market, Import structure, Expenditure-switching effect, Firms' sourcing decision
2003/5
305KB PDF

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