Kingdom, Canada, Japan and the US, we show that the yield curve factors predict bilateral exchange rate movements and excess …

shocks on output and the current account for China and Japan. We use structural vector auto-regression models and find that … yen appreciation reduces current account surpluses while having no strong effect on output in Japan. RMB appreciation, on …

the cross-country yield curves. Using monthly data between 1985 and 2005 for Canada, Japan, the UK and the US, we employ a …

effect of UMPs in Japan and the euro-area. However, a stress testing exercise shows that global liquidity would be seriously …

intervention in Japan over the January 1999 to March 2004 period. This sample encompasses a remarkable variation in intervention …

Japan's macroeconomic problem has yet to be properly diagnosed. Throughout the 1990s, policy makers could not decide on … deep historical roots, of why aggregate private demand failed to recover after Japan's stock and real estate bubbles burst … in 1991 and deflationary pressure continues.The problem is not purely quot;made in Japanquot;. It arises from Japan …

-purchase programme introduced by the Bank of Japan and partly a negative interest rate environment. The evidence adds to the argument in …