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.

2006
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No.
Author(s)
Title*/Keywords
Date
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2006-E-29
 Kenshi Taketa and Gregory F. Udell Lending Channels and Financial Shocks: The Case of SME Trade Credit and the Japanese Banking Crisis
/Trade Credit; Credit Crunch
2006/12
2006-E-28
 Sachiko Kuroda and Isamu Yamamoto Why are Nominal Wages Downwardly Rigid, but Less So in Japan?: An Explanation based on Behavioral Economics and Labor Market/Macroeconomic Differences
/Downward nominal wage rigidity; Behavioral economics; Labor mobility; Employment protection legislation; Inflation rate; Indexation
2006/11
2006-E-27
 Mari Ohnuki

Bank of Japan Network and Financial Market Integration: From the Establishment of the Bank of Japan Until the Early 20th Century
/Financial Market Integration; Payments Network; Bank of Japan; Correspondent Network Funds Transfers; Movement of Funds
2006/11
2006-E-26
 Keisuke Otsu A Neoclassical Analysis of the Korean Crisis
/Korean Crisis; Neoclassical Model; Small Open Economy; Total Factor Productivity; Financial Crisis
2006/11
2006-E-25
 Ichiro Muto Can the New Keynesian Phillips Curve Explain Japanese Inflation Dynamics? A Labor Share Correction Approach
/New Keynesian Phillips Curve; Real Marginal Cost; Labor Adjustment Cost; Material Price; Real Wage Rigidity; Inflation Persistence
2006/11
2006-E-24
 Hiroshi Fujiki and Howard J. Wall Controlling for Geographic Dispersion When Estimating the Japanese Phillips Curve
/Japanese Phillips curve
2006/11
2006-E-23
 Bill Dupor, Tomiyuki Kitamura, Takayuki Tsuruga Do Sticky Prices Need to Be Replaced with Sticky Information?
/Inflation; Sticky Price Model; Sticky Information Model; Labor Share
2006/10
2006-E-22
 Alessandra Fogli and Fabrizio Perri The Great Moderation and the US External Imbalance
/Business Cycle Volatility; Precautionary Saving; Current Account; Net Foreign Asset Position
2006/9
2006-E-21
 Jun Pan and Kenneth J. Singleton Interpreting Recent Changes in the
Credit Spreads of Japanese Banks
/default risk premium; credit default swap; Japanese banks; zero interest rate policy; event risk
2006/9
2006-E-20
 Howard J. Wall Regional Business Cycle Phases in Japan
/Markov-switching; regional business cycles; Japan
2006/9
2006-E-19
 Gauti B. Eggertsson and Benjamin Pugsley The Mistake of 1937: A General Equilibrium Analysis
/deflation; zero bound on interest rates; regime changes; Great Depression
2006/8
2006-E-18
 Simon Gilchrist and Masashi Saito Expectations, Asset Prices, and Monetary Policy: The Role of Learning
/monetary policy, asset prices, financial market imperfections, technology growth, imperfect information
2006/8
2006-E-17
 Glenn D. Rudebusch,
Eric T. Swanson, and Tao Wu		 The Bond Yield "Conundrum" from a Macro-Finance Perspective
/Term Structure; Term Premium; Bond Pricing; Affine No-Arbitrage Model
2006/7
2006-E-16
 Naohiko Baba Financial Market Functioning and Monetary Policy:Japan's Experience
/Bank of Japan; Term Structure of Interest Rates; Zero Lower Bound; Zero Interest Rates; Quantitative Monetary Easing Policy; Bank Risk Premium
2006/7
2006-E-15
 Maurice Obstfeld Implications for the Yen of Japanese Current Account Adjustment
/Current Account Adjustment; International Capital Flows; Japanese Yen Exchange Rate
2006/7
2006-E-14
 Bennett T. McCallum Misconceptions Regarding the Zero Lower Bound on Interest Rates
/Interest Rates; Zero Lower Bound; Quantitative Easing; Expectations; Deflation Trap; Liquidity Trap
2006/7
2006-E-13
 Yoshifumi Muroi Pricing of Credit Derivatives with the Asymptotic Expansion Approach
/Defaultable bond, counterparty credit risk, credit default swap, swaption, asymptotic expansion method, basket swap, Malliavin calculus
2006/7
2006-E-12
 Hiroshi Fujiki and Etsuro Shioji Bank Health Concerns, Low Interest Rates and Money Demand: Evidence from the "Public Opinion Survey on Household Financial Assets and Liabilities"
/Money demand; Low interest rates; Concern for the soundness of private financial institutions; Micro data; Self-selection bias; Personal financial education; Extensive margin; Intensive margin
2006/7
2006-E-11
 Masashi Saito Changes in Perceptions of the Future: Macroeconomic Implications
/Technology growth, regime switching, filtering, nonlinear impulse response, propagation
2006/6
2006-E-10
 Andrew K. Rose Well-Being in the Small and in the Large
/population, empirical, data, national, country, scale, size.
2006/6
2006-E-9
 Steven Li The Arbitrage Efficiency of Nikkei 225 Options Market: A Put-call Parity Analysis
/Put-call parity, market efficiency, Nikkei 225 options
2006/6
2006-E-8
 Masashi Une and Masayuki Kanda Year 2010 Issues on Cryptographic Algorithms
/cryptographic algorithm, symmetric cipher, asymmetric cipher, security, Year 2010 issues, hash function
2006/6
2006-E-7
 Xinghua Yu Competing Risk Analysis of Japan's Small Financial Institutions
/Competing Risks Duration Models, Identification, Maximum Likelihood Estimator, Bankruptcy and Merger, Credit Cooperatives in Japan
2006/3
2006-E-6
 Takeshi Amemiya and Xinghua Yu Endogenous Sampling and Matching Method in Duration Models
/Duration Models, Endogenous Sampling with Matching, Maximum Likelihood Estimator, Manski Lerman Estimator, Asymptotic Distribution
2006/3
2006-E-5
 Ichiro Fukunaga

Imperfect Common Knowledge, Staggered Price Setting, and the Effects of Monetary Policy
/Imperfect common knowledge; Higher-order expectations; Public and private information; Staggered price setting
2006/2
2006-E-4
 Yasuhiro Arikawa, Kumi Suzuki-Loffelholz, and Kenshi Taketa

Experimental Analysis on the Role of a Large Speculator in Currency Crises
/Currency Crises; Global Game; Experimental Economics
2006/1
2006-E-3
 Shiu-Sheng Chen and Kenshi Taketa
2006/1
2006-E-2
 Pierre Perron and Tomoyoshi Yabu

Testing for Shifts in Trend with an Integrated or Stationary Noise Component
/Structural Change, Unit Root, Median-Unbiased Estimates, GLS Procedure, Super Efficient Estimates
2006/1
2006-E-1
 Pierre Perron and Tomoyoshi Yabu

Estimating Deterministic Trends with an Integrated or Stationary Noise Component
/Linear Trend, Unit Root, Median-Unbiased Estimates, GLS Procedure, Super Efficient Estimates
2006/1

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