In the fall of 1998, two important financial regulatory reform acts were passed in Japan. The first of these acts, the …

This paper studies the objectives and operating procedures of the Bank of Japan (BOJ) during the period 1975-94. To do …

price data from Hong Kong, Japan, and Korea. It is shown that the welfare costs of borrowing constraints are positively … fluctuations are relatively transitory, to 11 percent of GDP in Japan, where land price fluctuations are the most persistent. …

Despite the ongoing worldwide trend toward regional integration, Japan has remained outside of all regional trading … agreements. Because more than 60 percent of Japan’s trade is with countries that are members of a major regional bloc, this … reluctance may have had significant effects on its pattern and volume of trade. Indeed, the author finds that Japan’s exports …