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Maturity Structure and Supply Factors in Japanese Government Bond Markets
Using our constructed database on the amount outstanding of Japanese Government Bonds (JGBs) categorized by holder and remaining maturity, we examine the effects of changes in the holders andExpand
Financial Accelerator Effects in Japan's Business Cycles
How do financial factors due to credit-market imperfections affect economic fluctuations? This paper calibrates a dynamic general equilibrium model incorporating credit-market imperfections usingExpand
The Effects of Oil Price Changes on the Industry-Level Production and Prices in the U.S. And Japan
In this paper, we decompose oil price changes into their component parts following Kilian (2009) and estimate the dynamic effects of each component on industry-level production and prices in the U.S.Expand
Measuring Energy-Saving Technical Change in Japan
In this paper, we estimate time-varying biases of technical change and their effects on productivity using econometric models of aggregate and industry-level technology in Japan. In our aggregateExpand
Asset Prices and Monetary Policy
How should central banks take into account movements in asset prices in the conduct of monetary policy? We provide an analysis to address this issue using a dynamic stochastic general equilibriumExpand
The Quarterly Japanese Economic Model (Q-JEM): 2011 Version
This paper provides a brief explanation and a detailed documentation of the current version of the Quarterly Japanese Economic Model (Q-JEM), which has been developed and constantly updated since theExpand
Measuring Potential Growth with an Estimated DSGE Model of Japan’s Economy
In this paper, we calculate the potential output and the output gap using a Bayesian-estimated DSGE model of Japan's economy. The model is a two-sector growth model that takes into account growthExpand
Inflation and Public Debt Reversals in Advanced Economies
This paper quantitatively assesses the effects of inflation shocks on the public debt-to-GDP ratio in 19 advanced economies using simulation and estimation approaches. The simulations based on theExpand
II . Distortions in Economic Activity and the Role of Monetary Policy
How should central banks take into account movements in asset prices in the conduct of monetary policy? We provide an analysis to address this issue using a dynamic stochastic general equilibriumExpand
Monetary Policy in a Post-Financial Crisis Era: Summary of the 2014 BOJ-IMES Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan
The Institute for Monetary and Economic Studies (IMES) of the Bank of Japan (BOJ) held the 2014 BOJ-IMES Conference, entitled “Monetary Policy in a Post-Financial Crisis Era,” on May 28–29, 2014, atExpand
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