This study investigates the effect of the Bank of Japan’s large-scale exchange-traded fund purchasing program since 2013 on stock prices using a synthetic control method. We use the stock price indexes of 27 OECD countries as a control group and estimate the time-series data of the synthetic...

In this study, we examine the impact of the monetary easing policy announced by the Bank of Japan on October 31, 2014 on households’ willingness to borrow. This policy, called the Kuroda Bazooka, was not anticipated by the private sector, so it can be regarded as an exogenous shock. We use an...

We examine the performance stability of firms in inflation-targeting countries before and after the 2008 global financial crisis. We use the propensity score method to analyze and compare firms in inflation-targeting and non-inflation-targeting countries, including both developed and developing...