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Financial Frictions and Foreign Direct Investment: Theory and Evidence from Japanese Microdata

Raff, Horst; Ryan, Michael; Stähler, Frank - CESifo - 2015

We use Japanese microdata to examine how financial market frictions affect foreign direct investment (FDI). The Japanese land price bubble and banking trouble in the late 1980s and early 1990s serve as a quasi natural experiment to identify two possible transmission channels from financial...

Persistent link: https://www.econbiz.de/10011205374

Did the Japanese Patient Follow the Doctor's Orders? Mostly no! A Public Choice Analysis of Greenhouse Gas Emissions Trading Schemes in Japan before and after the Earthquake

Rudolph, Sven; Schneider, Friedrich - CESifo - 2011

’ energy and climate policy. Japan is one of the biggest emitters of greenhouses gases in the world and still far away from …, we ask what the political reasons for the failure of carbon markets in Japan are and how they can be overcome. We use … Public Choice arguments, but also analyze actual climate policy making in Japan on a case study basis. Thus, on the one hand …

Persistent link: https://www.econbiz.de/10009364314

The Signalling Channel of Central Bank Interventions: Modelling the Yen / US Dollar Exchange Rate

Chen, Yu-Fu; Funke, Michael; Glanemann, Nicole - CESifo - 2011

This paper presents a theoretical framework analysing the signalling channel of exchange rate interventions as an informational trigger. We develop an implicit target zone framework with learning in order to model the signalling channel. The theoretical premise of the model is that interventions...

Persistent link: https://www.econbiz.de/10009324091

Economy Wide Impact of the Trade Integration between Japan and India: A Computable General Equilibrium Analysis

Bhattacharyay, Biswa Nath; Mukhopadhyay, Kakali - CESifo - 2013

, the study evaluates the economy wide impact of the proposed CEPA between India and Japan at 2020. The study has used a … leaks) in Japan in March 2011 will have short-term negative impacts on the economy but is unlikely to affect the expected … gains from CEPA between India and Japan. The short negative impact may be significant but in the long-run Japanese economy …

Persistent link: https://www.econbiz.de/10010732348

The Macroeconomic Policy Challenges of Balance Sheet Recession: Lessons from Japan for the European Crisis

Schnabl, Gunther - CESifo - 2013

The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the … characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary … well as gradual real income losses, the economic policy implication for Japan and Europe is the timely exit from the …

Persistent link: https://www.econbiz.de/10010659183

'By a Silken Thread': Regional Banking Integration and Pathways to Financial Development in Japan's Great Recession

Hoffmann, Mathias; Okubo, Toshihiro - CESifo - 2013

How do financial development and financial integration interact? We focus on Japan’s Great Recession after 1990 to … reference to prefectures’ different historical pathways to financial development. After Japan’s opening to trade in the 19th …, the main export hub for silk, provided silk reelers with trade loans. Many regional banks in Japan were founded as local …

Persistent link: https://www.econbiz.de/10010607005

Does an R&D Tax Credit Affect R&D Expenditure? The Japanese R&D Tax Credit Reform in 2003

Kasahara, Hiroyuki; Shimotsu, Katsumi; Suzuki, Michio - CESifo - 2013

To what extent does a tax credit affect firms’ R&D activity? What are the mechanisms? This paper examines the effect of R&D tax credits on firms’ R&D expenditure by exploiting the variation across firms in the changes in the eligible tax credit rate between 2000 and 2003. Estimating the...

Persistent link: https://www.econbiz.de/10010877675