paper investigates whether bank ties in Japan were costly for mature and healthy firms in the 1980's and 1990's, and whether … banks continued to facilitate investment once non-bank financing options became available. Using the explicit bond issuing … much larger for main bank client firms, once bond market access is controlled for. This result, coupled with results on the …

aggregate loan movements in Japan for the period 1990 to 2010 into bank, firm, industry, and common shocks. The high degree of … separate firm-borrowing shocks from bank-supply shocks using a vast sample of matched bank-firm lending data. We decompose … role for granular shocks as in Gabaix (2011). We show that idiosyncratic granular bank-supply shocks explain 30-40 percent …

Japan has seen episodes in which boom and bust in land prices is accompanied by boom and bust in business fixed …

(with little effect on low educated workers performing manual non-routine tasks). Using industry level data on the US, Japan …

In this paper we compare sources of economic growth in Japan and the United States from 1975 through 2003, focusing on … contribution of total factor productivity growth from the IT sector in Japan also increased, while the contributions of labor input … growth in Japan from for the next decade is substantially below that in the United States, mainly due to slower growth of …