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This paper examines the effect of initial margin requirements on long-run and short-run volatilities in the Japanese stock market using the Component GARCH model. Our empirical results show that when we do not divide the margin requirement into positive and negative changes, increasing margin...
Persistent link: https://www.econbiz.de/10013007134
starting point of the debate concerning the reform of public financial system in Japan. Section III reverifies the privileges … financial system. It is believed that reform of the private financial sector is not enough to revitalize the Japanese financial … system, but reform of the public financial sector is crucial. There are various opinions concerning ideal public financial …
Persistent link: https://www.econbiz.de/10009365435
revitalize Japan‘s economy and aging society. Prior assessments generally view this reform effort as a failure due to Japan‘s low … results-oriented standard in evaluating Japan‘s reform efforts …This paper reassesses the results of Japan‘s financial deregulation over the last two decades. Japan‘s Big Bang sought …
Persistent link: https://www.econbiz.de/10013121093
kategorieübergreifende Unsicherheits-Spillover-Effekte zwischen den USA und Japan. Dabei betrachten wir sowohl wirtschaftspolitische …-WPU-Spillover zwischen den USA und Japan sowohl zeit- als auch kategorieabhängig ist. Dabei fungieren im Laufe des Untersuchungszeitraums …-category spillovers of economic policy uncertainty (EPU) and financial market volatility between the US and Japan. Our model includes …
Persistent link: https://www.econbiz.de/10011954058
current Japanese economic situation and explain the accounting and disclosure reform. In Section 3, we explain data and …
Persistent link: https://www.econbiz.de/10003321259
The use of GARCH models with stable Paretian innovations in financial modeling has been recently suggested in the literature. This class of processes is attractive because it allows for conditional skewness and leptokurtosis of financial returns without ruling out normality. This contribution...
Persistent link: https://www.econbiz.de/10009765347
Many Japanese firms have operations in Asia, and Thailand, which ranks second behind China in the number of overseas subsidiaries of Japanese firms it hosts, is an important location for manufacturing and products/service distribution. Following the Asian financial crisis of 1997, Thailand has...
Persistent link: https://www.econbiz.de/10013153683
Persistent link: https://www.econbiz.de/10001509662
While the recent “Big Bang” reform fundamentally aims at enhancing market competition in the financial sector, the … on the recent “Big Bang” reform. Its main argument is that the FTC – MoF link is beneficial not only to the MoF but also …
Persistent link: https://www.econbiz.de/10005190531