This paper aims to elucidate whether supply side factors played a crucial role in causing the greluctance to lendh in Japan in the 1990s. We estimate loan supply and demand functions using prefectural panel data and calculate their shifts. Our analysis reveals that the demand side played an...

The purpose of this paper is to elucidate whether the supply side played a crucial role in causing the credit crunch in Japan in the 1990s. To this end, we estimate the supply and demand functions using prefectural panel data from 1990 to 2001 and calculate the shifts of those functions. The...

The purpose of this paper is to elucidate whether the supply side played a crucial role in causing credit crunch in 1990s. To this end, we estimated the supply and demand functions using prefectural panel data from 1990 to 2001, and calculate the shift of those functions. The results reveal that...

In order to quantify the effects of declining birthrate and changing demographic structure on the Japanese economy, we show the results of simulations by using a multi-sector dynamic general equilibrium model with overlapping generations (OLG) in an open economy. The model is constructed to...

In this paper, we discuss the structure of a forward-looking model of the Japanese economy, which has been jointly developed by the Institute of Economic Research, Kyoto University, and the Policy Research Institute, Ministry of Finance, and use the model to simulate policies for fiscal...