Showing 1 - 10 of 31
these two markets with the regulatory environment for banks in Japan, with Japan's overall external financial position, as … environment in Japan, including restraints on interest rates, and possible quantitative restraints, has had an important impact on … States as substitutes for their head offices in extending commercial and industrial loans to Japan-based companies as well as …
Persistent link: https://www.econbiz.de/10005368172
Among stock-market-listed Japanese firms in 1994-95, the financial health of the firm's main bank did not significantly affect its investment behavior, after controlling for stock market valuation and cash flow. However, among the subset of bank-dependent firms, investment was lower by over 50...
Persistent link: https://www.econbiz.de/10005368185
is warranted. ; We then turn to the adjustment process. First, we present evidence that a narrowing of Japan's record … be counter-productive. The model shows that this outcome is possible, but we argue that for an economy with Japan … impact on domestic demand in Japan and on trade with the developing countries. …
Persistent link: https://www.econbiz.de/10005368234
This paper examines the effects of the liberalization of the Japanese financial system in the past twenty years. The changes are viewed in terms of their current and potential future impact on the Japanese banking industry. The purpose of this paper is to provide a discussion of the situation...
Persistent link: https://www.econbiz.de/10005368381
This paper focuses on price discrimination in international trade that is associated with movements in exchange rates. This phenomenon is referred to as "pricing to market." We find strong evidence of pricing to market for Japanese exports of automobiles. We find moderate evidence of such...
Persistent link: https://www.econbiz.de/10005368412
The rapid rise in Japanese owned assets in the United States and the substantial fall of the dollar against the yen naturally raises the question of whether there is a causal relationship between Japanese direct investment and the yen/dollar exchange rate. ; This paper contributes in two ways to...
Persistent link: https://www.econbiz.de/10005368434
This paper develops measures of long-run equilibrium price levels (P*) for Japan and Germany following the approach … in the U.S. case because the velocities of the broad monetary aggregates (M2+CDs in Japan and M3 in Germany) exhibit … money demand to construct measures of equilibrium velocity and P for Japan and Germany. We then assess the explanatory power …
Persistent link: https://www.econbiz.de/10005368454
, using official data from Japan's Ministry of Finance. Over the period as a whole, we find some evidence of a modest "against …
Persistent link: https://www.econbiz.de/10005368465
any precision. This paper offers the first analysis ofthat role using data since 1890 for Canada, Japan, and the United …
Persistent link: https://www.econbiz.de/10005368475
We undertake a decomposition of the risk factor loadings of fifteen national stock market returns from 1972 to 1990, using a variant of the Campbell-Shiller (1988) linearization. We find considerable variation among countries in the relative importance of a cash flow component and a discount...
Persistent link: https://www.econbiz.de/10005368494