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Defying Gravity : How Long Will Japanese Government Bond Prices Remain High?

Hoshi, Takeo - 2012

Recent academic papers have shown that the Japanese sovereign debt situation is not sustainable. The puzzle is that the bond rate has remained low and stable. Some suggest that the low yield can be explained by domestic residents' willingness to hold Japanese government bonds (JGBs) despite its...

Persistent link: https://www.econbiz.de/10012460374

Is the Sky the Limit? Can Japanese Government Bonds Continue to Defy Gravity?

Hoshi, Takeo; Ito, Takatoshi - 2013

This paper presents a simulation model based on the growth rate, the inflation rate, and the consumption tax rate in the future. Future tax revenues and fiscal expenditures are projected using regression models estimated from past data. The fiscal situation is called unsustainable if the...

Persistent link: https://www.econbiz.de/10014150510

International Impacts on Domestic Political Economy : A Case of Japanese General Elections

Ito, Takatoshi - 2022

The objective of this paper is twofold. First, this paper emphasizes that in a parliamentary system, such as in Japan … growth in Japan. Evidence suggests that although blatant policies, such as a beggar-thy-neighbor policy, were not adopted, a …

Persistent link: https://www.econbiz.de/10014153997

Retrospective on the Bubble Period and its Relationship to Developments in the 1990s

Ito, Takatoshi - 2003

In reviewing what happened in the 1980s in Japan and how the bursting of the bubble created problems in the early 1990s … difficult and inappropriate to raise the interest rate sharply when inflation is low (below one per cent like in Japan), even … 1988 in Japan, when the Federal Reserve and Bundesbank raised interest rates. This would have slowed down the rise of stock …

Persistent link: https://www.econbiz.de/10014084146

Foreign Exchange Rate Expectations : Micro Survey Data

Ito, Takatoshi - 2021

This paper analyzes the panel data of bi-weekly surveys, conducted by the Japan Center for International Finance, on …

Persistent link: https://www.econbiz.de/10013230991

Is the Japanese Distribution System Really Inefficient?

Ito, Takatoshi; Maruyama, Masayoshi - 2022

the distribution system is acting as a non-tariff barrier. Thus, even if the distribution sector in Japan is judged to be …

Persistent link: https://www.econbiz.de/10013308486

Fiscal Policy and Management in East Asia

Au-Yeung, Wilson (contributor); Chetty, Raj (contributor); … - 2009

United States and Japan. Fiscal Policy and Management in East Asia explores the inefficient tax systems of many developing …

Persistent link: https://www.econbiz.de/10014487936

Trade and Protectionism

Baldwin, Robert E. (contributor); Chen, Tain-Jy (contributor) - 2007

trading blocks in the Western Hemisphere and Europe. They cover trade between the United States and Japan, Korea and Japan …

Persistent link: https://www.econbiz.de/10014488243

Intraday Yen/Dollar Exchange Rate Movements : News or Noise?

Ito, Takatoshi; Roley, V. Vance - 2021

Intraday movements in the yen/dollar rate are examined over the 1980-86 period using opening and closing quotes in the New York and Tokyo markets. The results indicate that random-walk behavior is violated about half of the time in various subsamples. However, the economic significance of...

Persistent link: https://www.econbiz.de/10013227002

Is the Bank of Japan a Closet Monetarist? Monetary Targeting in Japan, 1978-1988

Ito, Takatoshi - 2021

This paper investigates whether the Bank of Japan has practiced a monetarist rule since 1975. The Bank of Japan (BOJ …

Persistent link: https://www.econbiz.de/10013227866