Hirose, Yasuo; Ohyama, Shinsuke; Taniguchi, Ken - In: Journal of the Japanese and International Economies 26 (2012) 1, pp. 179-185
The premium on interbank money market rates arises over year-end periods as a result of the Japanese business practice of periodic settlement. This paper examines to what extent the Bank of Japan’s liquidity provision reduced the year-end premium in Japan. We find that the funds-supplying...