Portfolio rebalancing is a key transmission channel of quantitative easing in Japan. We construct a realistic …

Japan's aging and shrinking population could lower the natural rate of interest and, together with low inflation … expectations, challenge the Bank of Japan's efforts to reflate the economy. This paper uses a semi-structural model to estimate the … impact of demographics on the natural rate in Japan. We find that demographic change has a significantly negative impact on …

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

Japan has ambitious economic goals: 3 percent nominal growth; 2 percent inflation; and a primary budget surplus …

The Bank of Japan has introduced various unconventional monetary policy tools since the launch of Abenomics in 2013, to … analysis (FPAS) for Japan. In the model's baseline scenario, the likelihood of the Bank of Japan reaching its 2 percent …

Three years have passed since the Bank of Japan's asset purchase program was introduced in 2011, causing a sharp … decline in the value of the Japanese Yen. What would be the implications for Japan and Korea's exporters if the weak Yen is … shocks. We find that if the weak Yen persists, it would strengthen Japan's price competitiveness over time as export prices …

The Bank of Japan has used unconventional monetary policies to fight deflation and stabilize the financial system since … the late 1990s. While the Bank of Japan's reflation efforts have evolved over time, inflation and inflation expectations … have remained stubbornly low. This paper examines the evolution of monetary policy in Japan over the past twenty years, in …

States, the United Kingdom, Euro area and Japan-the Systemic Four-on global monetary and liquidity conditions. Overall, the … countries on these conditions in other countries. UMPMs of the Bank of Japan have positive association with global liquidity but …