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Unstash the Cash! Corporate Governance Reform in Japan

Aoyagi, Chie - 2014

Japan's high corporate savings might be holding back growth. We focus on the causes and consequences of the current … corporate behavior and suggest options for reform. In particular, Japan's weak corporate governance - as measured by available … comprehensive corporate governance reform should be a key component of Japan's growth strategy …

Persistent link: https://www.econbiz.de/10013048363

Spillovers from Japan's Unconventional Monetary Policy to Emerging Asia : A Global VAR Approach

Ganelli, Giovanni - 2016

We use a Global VAR model to study spillovers from the Bank of Japan's quantitative and qualitative easing (QQE) on …

Persistent link: https://www.econbiz.de/10012977736

Fiscal Devaluation in a Monetary Union

Engler, Philipp - 2014

Using a DSGE model calibrated to the euro area, we analyze the international effects of afiscal devaluation (FD) implemented as a revenue-neutral shift from employer's socialcontributions to the Value Added Tax. We find that a FD in 'Southern European countries' has a strong positive effect on...

Persistent link: https://www.econbiz.de/10013040409

A New Comparative Approach to Macroeconomic Modeling and Policy Analysis

Cwik, Tobias; Mueller, Gernot; Schmidt, Sebastian; … - C.E.P.R. Discussion Papers - 2012

In the aftermath of the global financial crisis, the state of macroeconomic modeling and the use of macroeconomic models in policy analysis has come under heavy criticism. Macroeconomists in academia and policy institutions have been blamed for relying too much on a particular class of...

Persistent link: https://www.econbiz.de/10011083870

The Science and Practice of Monetary Policy Today : The Deutsche Bank Prize in Financial Economics 2007

Wieland, Volker - 2010

The New-Keynesian Approach to Understanding the Economy -- Michael Woodford’s Contributions to Monetary Economics -- The New-Keynesian Approach to Monetary Policy Analysis: Lessons and New Directions -- The New-Keynesian Approach in Forecasting and Monetary Policy Design -- The Case for...

Persistent link: https://www.econbiz.de/10013521306

Fiscal Consolidation Strategy

Cogan, John F.; Taylor, John B.; Wieland, Volker; … - C.E.P.R. Discussion Papers - 2012

In the aftermath of the global financial crisis and great recession, many countries face substantial deficits and growing debts. In the United States, federal government outlays as a ratio to GDP rose substantially from about 19.5 percent before the crisis to over 24 percent after the crisis. In...

Persistent link: https://www.econbiz.de/10011083793

New Keynesian versus old Keynesian government spending multipliers

Cogan, John F.; Cwik, Tobias; Taylor, John B.; Wieland, … - C.E.P.R. Discussion Papers - 2009

Renewed interest in fiscal policy has increased the use of quantitative models to evaluate policy. Because of modeling uncertainty, it is essential that policy evaluations be robust to alternative assumptions. We find that models currently being used in practice to evaluate fiscal policy...

Persistent link: https://www.econbiz.de/10004961429

Keynesian government spending multipliers and spillovers in the euro area

Cwik, Tobias; Wieland, Volker - C.E.P.R. Discussion Papers - 2009

The global financial crisis has lead to a renewed interest in discretionary fiscal stimulus. Advocates of discretionary measures emphasize that government spending can stimulate additional private spending --- the so-called Keynesian multiplier effect. Thus, we investigate whether the...

Persistent link: https://www.econbiz.de/10004964423

Minimum Wage as a Wage Policy Tool in Japan

Aoyagi, Chie - 2017

Japan. Our main result is that stepping up minimum wage growth from 2 to the planned 3 percent per year could raise wage … growth by 0.5 percent annually. Given Japan's need for income policies to generate vigorous wage-price dynanics, reflecting …

Persistent link: https://www.econbiz.de/10012965071

The Path to Higher Growth : Does Revamping Japan's Dual Labor Market Matter?

Aoyagi, Chie - 2013

This paper argues that Japan's excessive labor market duality can reduce Total Factor Productivity (TFP) due to a … employment protection between regular and non-regular workers would substantially reduce labor market duality in Japan. One …

Persistent link: https://www.econbiz.de/10013073781