Showing 1 - 10 of 38
Japan suffered a very high inflation rate in 1973-74. The CPI inflation rate rose to near 30% in 1974, the highest rate … rapid yen appreciation produced political pressure on the Bank of Japan to continue easing. The Bank of Japan came out of … monetary policy should not be overruled or the high inflation would be repeated. By this logic, the Bank of Japan obtained /de …
Persistent link: https://www.econbiz.de/10012462925
of Japan's rhetoric was not helpful in fighting deflation, and the interest rate hike in August 2000 amid deflation was a …
Persistent link: https://www.econbiz.de/10012467811
The paper aims at explaining why the Bank of Japan has not adopted inflation targeting, despite calls for such a policy …. Disclosed minutes of the Monetary Policy Meetings of the Bank of Japan, after March 1998, as well as Speeches by its members … give clues to changing reasons against inflation targeting. Inflation targeting was not adopted in Japan in the early years …
Persistent link: https://www.econbiz.de/10012467871
This paper investigates whether the Bank of Japan has practiced a monetarist rule since 1975. The Bank of Japan (BOJ …
Persistent link: https://www.econbiz.de/10012476175
intervention by the Bank of Japan was rather limited at that point. The Bank of Japan, adopted the "high interest policy" in … October 1985. By narrowing the interest rate gap between Japan and the United States, the Bank of Japan successfully led to … in oil prices. After the third wave was over, the Bank of Japan started intervening the market in support of the dollar …
Persistent link: https://www.econbiz.de/10012477021
We examine whether the forex market quality, measured by the speed of price discovery and liquidity recovery after … increasing number of traders improves liquidity but slows down price discovery. Theoretically, the latter finding implies that …
Persistent link: https://www.econbiz.de/10012481993
A first step in the 'big bang' markets was the deregulation of the foreign exchange market on April 1, 1998. This paper examines how the bid-ask spread and conditional volatility in the yen/dollar foreign exchange market changed around the time of the deregulation. Intra-day data are analyzed...
Persistent link: https://www.econbiz.de/10012471543
the U.S. and Japan were examined explicitly both with respect to possible major events behind large jumps andthe response …
Persistent link: https://www.econbiz.de/10012477223
In this paper, a vector autoregression model (VAR) is proposed in order to test uncovered interest parity (UIP) in the foreign exchange market. Consider a VAR system of the spot exchange rate (yen/dollar), the domestic (US) interest rate and the foreign (Japanese) interest rate, describing the...
Persistent link: https://www.econbiz.de/10012477593
timings and amounts for Japan, the US, and Germany. Fourth, we present the episode of international coordination represented …
Persistent link: https://www.econbiz.de/10012479168