Bank of Japan

11/01/2019 | Press release | Distributed by Public on 10/31/2019 20:39

(Research Paper)IMES DPS:Search Complementarities, Aggregate Fluctuations, and Fiscal Policy

IMES Discussion Paper Series (DPS) 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.

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IMES Discussion Paper Series
No./Main Category Author(s) Title/Keywords Date Full Text (PDF)
2019-E-18/Economics Jesus Fernandez-Villaverde, Federico Mandelman, Yang Yu, Francesco Zanetti Search Complementarities, Aggregate Fluctuations, and Fiscal Policy
/Aggregate fluctuations; Strategic complementarities; Macroeconomic volatility; Government spending
2019-11-01 1,912KB
2019-E-17/History Mariko Hatase, Yoichi Matsubayashi Tax Incentives for Investment: Evidence from Japan's High-Growth Era
/Capital investments; Corporate taxes; Special depreciation; Investment policy; High-growth era
2019-09-13 1,403KB
2019-E-16/Economics Naoko Hara, Ryuzo Miyao, Tatsuyoshi Okimoto The Effects of Asset Purchases and Normalization of US Monetary Policy
/Quantitative easing; Unconventional monetary policy; LSAP; MSVAR
2019-08-30 462KB
2019-E-15/Economics Tatsushi Okuda, Tomohiro Tsuruga, Francesco Zanetti Imperfect Information, Shock Heterogeneity, and Inflation Dynamics
/Imperfect information; Shock heterogeneity; Inflation dynamics
2019-08-30 1,365KB
2019-E-14/Economics Shigenori Shiratsuka, Nao Sudo, Shingo Watanabe Central Bank Design under a Continued Low Inflation and Interest Rate Environment
Summary of the 2019 BOJ-IMES Conference
2019-08-21 597KB
2019-E-13/Economics Carl E. Walsh Alternatives to Inflation Targeting in Low Interest Rate Environments
/Optimal monetary policy; Inflation targeting; Price-level targeting; Average inflation targeting
2019-08-21 869KB
2019-E-12/Economics Jean-Claude Trichet The Euro Area Economic, Fiscal and Financial Governance: Difficulties and Successes in the Past - Present Challenges - Future Steps 2019-08-21 681KB
2019-E-11/Economics Makoto Nirei, Jose A. Scheinkman Self-Organization of Inflation Volatility
/Trend inflation; Inflation volatility; State-dependent pricing; Aggregate fluctuations; Self-organized criticality; Power law
2019-07-29 880KB
2019-E-10/Economics Michinao Okachi Sovereign Default Triggered by Inability to Repay Debt
/Sovereign Default; Dynamic Stochastic General Equilibrium; Inability to Repay Debt; Strategic Decision to Default; Fiscal Limit; Laffer Curve
2019-07-22 791KB
2019-E-9/Economics Saleem Bahaj, Ricardo Reis Central Bank Swap Lines: Evidence on the Effects of the Lender of Last Resort
/liquidity facilities; currency basis; bond portfolio flows
2019-07-11 1,659KB
2019-E-8/Economics Julio A. Carrillo, Enrique G. Mendoza, Victoria Nuguer, Jessica Roldan-Pena Tight Money-Tight Credit: Coordination Failure in the Conduct of Monetary and Financial Policies
/Monetary policy; Financial frictions; Macroprudential policy; Leaning against the wind; Policy coordination
2019-07-05 1,212KB
2019-E-7/History Ryoji Koike Interpolation of Japan's Household Consumption during World War II
/Household survey; Black-market prices; Effective prices; In-kind outlay; World War II
2019-06-28 1,188KB
2019-E-6/Economics Markus K. Brunnermeier, Yann Koby The Reversal Interest Rate
/Monetary Policy; Lower Bound; Negative Rates; Banking
2019-06-21 1,014KB
2019-E-5/Information technology Shiori Inoue, Masashi Une Security Analysis of Machine Learning Systems for the Financial Sector
/Artificial Intelligence; Machine Learning System; Security; Threat; Vulnerability
2019-05-17 1,042KB
2019-E-4/Economics Hidehiko Matsumoto Foreign Reserve Accumulation, Foreign Direct Investment, and Economic Growth
/Foreign Reserve Accumulation; Foreign Direct Investment; Sudden Stops; Endogenous Growth; Real Exchange Rate; Gross Capital Flows
2019-03-01 985KB
2019-E-3/Economics Carlo Pizzinelli, Konstantinos Theodoridis, Francesco Zanetti State Dependence in Labor Market Fluctuations: Evidence, Theory, and Policy Implications
/Search and Matching Models; State Dependence in Business Cycles; Threshold Vector Autoregression
2019-02-22 1,599KB
2019-E-2/Economics Rasmus Fatum, Naoko Hara, Yohei Yamamoto Negative Interest Rate Policy and the Influence of Macroeconomic News on Yields
/NIRP; Bond Yields; Macroeconomic News
2019-02-13 689KB
2019-E-1/Finance Tetsuya Adachi, Takumi Sueshige, Toshinao Yoshiba Wrong-way Risk in Credit Valuation Adjustment of Credit Default Swap with Copulas
/Credit valuation adjustment; Credit default swap; Affine jump diffusion; Fractional fast Fourier transform; Characteristic function
2019-01-25 671KB