Corporate debt in emerging markets has risen significantly in recent years amid accommodative global financial conditions. This paper studies the relationship of leverage growth in emerging market (EM) firms to U.S. monetary conditions, and more broadly, to global financial conditions. We find...

This paper analyzes the stabilizing properties of alternative monetary policy regimes. In practice there is a choice between two broad types of monetary policy regimes: a fixed exchange rate regime or a floating exchange rate regime. In this paper I compare exchange rate targeting with different...

This dissertation discusses Japanese capital market deregulation for 1980:12-1996:12, which began gradually with the capital procurement of the most multinationalized firms and differentiated them from the pure domestic firms. We try to quantify what actually happened in the Tokyo Stock Exchange...