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The Broad Yen Carry Trade
Hattori, Masazumi; Shin, Hyun Song - Institute for Monetary and Economic Studies, Bank of Japan - 2007
Yen carry trades have traditionally been viewed in narrow terms purely as a foreign exchange transaction. However, evidence from the waxing and waning of balance sheets of foreign banks operating in Japan points to a broader notion of the carry trade. Yen liabilities fund not only pure currency...
Persistent link: https://www.econbiz.de/10004975764
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Good Securitization, Bad Securitization
Plantin, Guillaume - Institute for Monetary and Economic Studies, Bank of Japan - 2011
I use a simple banking model to study the circumstances under which excessive and inefficient securitization may occur …. I first stress that increasing securitization rates that reduce banks' incentives to screen borrowers and thus lead to … the informational efficiency of the securitization market, then there is room for excessive securitization. The model …
Persistent link: https://www.econbiz.de/10008837594