Kimura, Takeshi; Small, David H. - 2004
Bank
of Japan when the nominal short-term interest rate was virtually at zero. Portfolio-
rebalancing effects resulting … adverse on net for Japan’s economy. However, our
analysis counsels caution in accepting the view that, ceteris paribus, a … financial markets at zero short-term interest
rates.
JEL Classification: E40, E58, G12.
Keywords: Bank of Japan, CAPM …