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Portfolio rebalancing in Japan : constraints and implications for quantitative easing
Arslanalp, Serkan; Botman, Dennis P. J. - 2015
Portfolio rebalancing is a key transmission channel of quantitative easing in Japan. We construct a realistic …
Persistent link: https://www.econbiz.de/10011373924
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Zombies on the brink : evidence from Japan on the reversal of monetary policy effectiveness
Hong, Gee Hee; Igan, Deniz; Lee, Do - 2021
How does unconventional monetary policy affect corporate capital structure and investment decisions? We study the transmission channel of quantitative easing and its potential diminishing returns on investment from a corporate finance perspective. Using a rich bank-firm matched data of Japanese...
Persistent link: https://www.econbiz.de/10012518322
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Twenty years of unconventional monetary policies : lessons and way forward for the Bank of Japan
Westelius, Niklas J. - 2020
Persistent link: https://www.econbiz.de/10012392475
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Scarcity effects of quantitative easing on market liquidity : evidence from the Japanese government bond market
Han, Fei; Seneviratne, Dulani - 2018
) effects of the Bank of Japan (BOJ)'s JGB purchases on market liquidity. Moreover, we also find evidence that such scarcity …
Persistent link: https://www.econbiz.de/10011852598
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Spillovers from Japan's unconventional monetary policy to emerging Asia : a global VAR approach
Ganelli, Giovanni; Tawk, Nour - 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/10011711367
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Bank of Japan's Quantitative and Credit Easing : Are they Now More Effective
Fasano-Filho, Ugo - 2002
This paper asks whether the BoJ''s recent experience with unconventional monetary easing has been effective in supporting economic activity and inflation. Using a structural VAR model, the paper finds some evidence that BoJ''s monetary policy measures during 1998-2010 have had an impact on...
Persistent link: https://www.econbiz.de/10014396895
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Should Korea worry about a permanently weak yen?
Ree, Joo Kyung; Hong, Gee Hee; Choi, Seoeun - 2015
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 …
Persistent link: https://www.econbiz.de/10011447113
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The Zero Interest Rate Floor (ZIF) and its Implications for Monetary Policy in Japan
Laxton, Douglas - 2001
(ZIF) for the design of monetary policy in Japan. Similar to findings in other studies, targeting rates of inflation lower …
Persistent link: https://www.econbiz.de/10014401235
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Effects of emerging market asset purchase program announcements on financial markets during the COVID-19 pandemic
Sever, Can; Goel, Rohit; Drakopoulos, Dimitris; … - 2020
The COVID-19 pandemic led many emerging market central banks to adopt, for the first time, unconventional policies in the form of asset purchase programs. In this study, we analyze the effects of these announcements on domestic financial markets using both event studies and local projections...
Persistent link: https://www.econbiz.de/10012487164
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International capital flows at the security level : evidence from the ECB's Asset Purchase Programme
Bergant, Katharina; Fidora, Michael; Schmitz, Martin - 2020
We analyse euro area investors' portfolio rebalancing during the ECB's Asset Purchase Programme at the security level. Our empirical analysis shows that euro area investors (in particular investment funds and households) actively rebalanced away from securities targeted under the Public Sector...
Persistent link: https://www.econbiz.de/10012251289