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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 …
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The G-20 Data Gaps Initiative (DGI), which aimed at addressing the information needs that were revealed by the 2007/2008 global financial crisis, concluded its first phase and started a second phase (DGI-2) with the endorsement of G-20 Finance Ministers and Central Bank Governors in September...
Persistent link: https://www.econbiz.de/10011445368
Do portfolio shifts by the world's largest asset owners respond procyclically to past returns, or countercyclically to valuations? And if countercyclical investment (with both market-stabilizing and return-generating properties) is a public and private good, how might asset owners be empowered...
Persistent link: https://www.econbiz.de/10011445378
This paper examines the impact of the new financial services law in Bolivia-including credit quotas and interest rate caps-on financial stability and inclusion. So far, credit to 'targeted' sectors is growing as intended by the law but the increase in the average loan size of microfinance...
Persistent link: https://www.econbiz.de/10011445827
This paper explores how monetary policy affects the real economy and its efficacy in promoting financial stability in a large low income country. This paper shows that monetary policy modestly impacts real economic activity and inflation via the bank lending and financial accelerator channels....
Persistent link: https://www.econbiz.de/10011408240
In distilling a vast literature spanning the rational---irrational divide, this paper offers reflections on why asset bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more complete, and more heavily influenced by sophisticated...
Persistent link: https://www.econbiz.de/10012692661