Policy Uncertainty in Japan PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Policy Uncertainty in Japan PDF full book. Access full book title Policy Uncertainty in Japan by Ms.Elif C Arbatli. Download full books in PDF and EPUB format.
Author: Ms.Elif C Arbatli
Publisher: International Monetary Fund
ISBN: 1484302362
Category : Business & Economics
Languages : en
Pages : 48
Get Book Here
Book Description
We develop new economic policy uncertainty (EPU) indices for Japan from January 1987 onwards building on the approach of Baker, Bloom and Davis (2016). Each index reflects the frequency of newspaper articles that contain certain terms pertaining to the economy, policy matters and uncertainty. Our overall EPU index co-varies positively with implied volatilities for Japanese equities, exchange rates and interest rates and with a survey-based measure of political uncertainty. The EPU index rises around contested national elections and major leadership transitions in Japan, during the Asian Financial Crisis and in reaction to the Lehman Brothers failure, U.S. debt downgrade in 2011, Brexit referendum, and Japan’s recent decision to defer a consumption tax hike. Our uncertainty indices for fiscal, monetary, trade and exchange rate policy co-vary positively but also display distinct dynamics. VAR models imply that upward EPU innovations foreshadow deteriorations in Japan’s macroeconomic performance, as reflected by impulse response functions for investment, employment and output. Our study adds to evidence that credible policy plans and strong policy frameworks can favorably influence macroeconomic performance by, in part, reducing policy uncertainty.
Author: Ms.Elif C Arbatli
Publisher: International Monetary Fund
ISBN: 1484302362
Category : Business & Economics
Languages : en
Pages : 48
Get Book Here
Book Description
We develop new economic policy uncertainty (EPU) indices for Japan from January 1987 onwards building on the approach of Baker, Bloom and Davis (2016). Each index reflects the frequency of newspaper articles that contain certain terms pertaining to the economy, policy matters and uncertainty. Our overall EPU index co-varies positively with implied volatilities for Japanese equities, exchange rates and interest rates and with a survey-based measure of political uncertainty. The EPU index rises around contested national elections and major leadership transitions in Japan, during the Asian Financial Crisis and in reaction to the Lehman Brothers failure, U.S. debt downgrade in 2011, Brexit referendum, and Japan’s recent decision to defer a consumption tax hike. Our uncertainty indices for fiscal, monetary, trade and exchange rate policy co-vary positively but also display distinct dynamics. VAR models imply that upward EPU innovations foreshadow deteriorations in Japan’s macroeconomic performance, as reflected by impulse response functions for investment, employment and output. Our study adds to evidence that credible policy plans and strong policy frameworks can favorably influence macroeconomic performance by, in part, reducing policy uncertainty.
Author: Ms.Elif C Arbatli
Publisher: International Monetary Fund
ISBN: 148430067X
Category : Business & Economics
Languages : en
Pages : 48
Get Book Here
Book Description
We develop new economic policy uncertainty (EPU) indices for Japan from January 1987 onwards building on the approach of Baker, Bloom and Davis (2016). Each index reflects the frequency of newspaper articles that contain certain terms pertaining to the economy, policy matters and uncertainty. Our overall EPU index co-varies positively with implied volatilities for Japanese equities, exchange rates and interest rates and with a survey-based measure of political uncertainty. The EPU index rises around contested national elections and major leadership transitions in Japan, during the Asian Financial Crisis and in reaction to the Lehman Brothers failure, U.S. debt downgrade in 2011, Brexit referendum, and Japan’s recent decision to defer a consumption tax hike. Our uncertainty indices for fiscal, monetary, trade and exchange rate policy co-vary positively but also display distinct dynamics. VAR models imply that upward EPU innovations foreshadow deteriorations in Japan’s macroeconomic performance, as reflected by impulse response functions for investment, employment and output. Our study adds to evidence that credible policy plans and strong policy frameworks can favorably influence macroeconomic performance by, in part, reducing policy uncertainty.
Author: Frank Baldwin
Publisher: NYU Press
ISBN: 1479889385
Category : Business & Economics
Languages : en
Pages : 360
Get Book Here
Book Description
"A joint publication of the Social Science Research Council and New York University Press."
Author: C. James Hueng
Publisher: W.E. Upjohn Institute
ISBN: 0880996765
Category : Business & Economics
Languages : en
Pages : 133
Get Book Here
Book Description
Policymakers and business practitioners are eager to gain access to reliable information on the state of the economy for timely decision making. More so now than ever. Traditional economic indicators have been criticized for delayed reporting, out-of-date methodology, and neglecting some aspects of the economy. Recent advances in economic theory, econometrics, and information technology have fueled research in building broader, more accurate, and higher-frequency economic indicators. This volume contains contributions from a group of prominent economists who address alternative economic indicators, including indicators in the financial market, indicators for business cycles, and indicators of economic uncertainty.
Author: Kenneth J. Singleton
Publisher: University of Chicago Press
ISBN: 0226760685
Category : Business & Economics
Languages : en
Pages : 208
Get Book Here
Book Description
How has the Bank of Japan (BOJ) helped shape Japan's economic growth during the past two decades? This book comprehensively explores the relations between financial market liberalization and BOJ policies and examines the ways in which these policies promoted economic growth in the 1980s. The authors argue that the structure of Japan's financial markets, particularly restrictions on money-market transactions and the key role of commercial banks in financing corporate investments, allowed the BOJ to influence Japan's economic success. The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity. This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.
Author: Satsuki Kawano
Publisher: University of Hawaii Press
ISBN: 0824838688
Category : Social Science
Languages : en
Pages : 370
Get Book Here
Book Description
What are people’s life experiences in present-day Japan? This timely volume addresses fundamental questions vital to understanding Japan in the first decade of the twenty-first century. Its chapters collectively reveal a questioning of middle-class ideals once considered the essence of Japaneseness. In the postwar model household a man was expected to obtain a job at a major firm that offered life-long employment; his counterpart, the “professional” housewife, managed the domestic sphere and the children, who were educated in a system that provided a path to mainstream success. In the past twenty years, however, Japanese society has seen a sharp increase in precarious forms of employment, higher divorce rates, and a widening gap between haves and have-nots. Contributors draw on rich, nuanced fieldwork data collected during the 2000s to examine work, schooling, family and marital relations, child rearing, entertainment, lifestyle choices, community support, consumption and waste, material culture, well-being, aging, death and memorial rites, and sexuality. The voices in these pages vary widely: They include schoolchildren, teenagers, career women, unmarried women, young mothers, people with disabilities, small business owners, organic farmers, retirees, and the elderly.
Author: Robert K. Dixit
Publisher: Princeton University Press
ISBN: 1400830176
Category : Business & Economics
Languages : en
Pages : 484
Get Book Here
Book Description
How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
Author: National Research Council
Publisher: National Academies Press
ISBN: 0309047803
Category : Technology & Engineering
Languages : en
Pages : 244
Get Book Here
Book Description
The perspectives of technologists, economists, and policymakers are brought together in this volume. It includes chapters dealing with approaches to assessment of technology leadership in the United States and Japan, an evaluation of future impacts of eroding U.S. technological preeminence, an analysis of the changing nature of technology-based global competition, and a discussion of policy options for the United States.
Author: Charles Goodhart
Publisher: Springer Nature
ISBN: 3030426572
Category : Business & Economics
Languages : en
Pages : 272
Get Book Here
Book Description
This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world’s economy may be going.
Author: Saori N. Katada
Publisher:
ISBN: 9780231190725
Category : BUSINESS & ECONOMICS
Languages : en
Pages : 0
Get Book Here
Book Description
Japan's regional geoeconomic strategy -- Foreign economic policy, domestic institutions and regional governance -- Geoeconomics of the Asia-Pacific -- Transformation in the Japanese political economy -- Trade and investment : a gradual path -- Money and finance : an uneven path -- Development and foreign aid : a hybrid path.
