Peek, Joe; Rosengren, Eric S. - Federal Reserve Bank of Boston - 1998
U.S. and U.K. competitors. This so-called "Japan premium" provides a market indicator of investor anxiety about the … ability of Japanese banks to repay loans. We examine the determinants of the Japan premium and find that events indicating … concrete actions by the Japanese government reduced the Japan premium. We find that the failure of Yamaichi Securities, which …