liquidity risk. We find that, during Japan's deflationary period, firms with more liquid balance sheets were less exposed to … price. We document a steep drop in the liquidity of the Japanese stock market in the post-bubble period and a steep rise in … stock market liquidity risk, while slowly growing firms were highly exposed to liquidity shocks. Also, aggregate liquidity …

measure each firm's liquidity shortfall during and after COVID-19. Our framework allows for a rich combination of sectoral and …

measure each firm's liquidity shortfall during and after COVID-19. Our framework allows for a rich combination of sectoral and …

measure each firm's liquidity shortfall during and after COVID-19. Our framework allows for a rich combination of sectoral and …

Why has Japan's lost decade become the lost two decades? This book attempts to provide a novel perspective on causes of … dataset compiled by the Development Bank of Japan, it shows empirical evidence that an excessive conservative financial policy … highly recommended to readers who seek a convincing and comprehensive explanation of Japan's lost two decades from the …

after its market crash in 1990. This large decrease in firm-level volatility may have impeded Japan's capital formation …