JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES 45 13-26 2017年9月 [査読有り]
This paper investigates the effectiveness of unconventional monetary policy in Japan by taking into account people's price expectations. First, a stability test revealed that the effects of the 2011 earthquake were not strong enough to have caused...
Global Economy Journal 14(3-4) 373-397 2014年10月 [査読有り]
This paper classifies 175 countries over a period of just 30 years according to the balance of payments stages that are frequently used in proposing a hypothesis that the stage depends on the progression in a nation's development. Using a nonparam...
JOURNAL OF ECONOMIC DYNAMICS & CONTROL 28(1) 189-205 2003年10月 [査読有り]
This paper examines the behavior of liquidity-constrained firms in a time-series. It illustrates that cash-shortage expectations induce a firm to hold liquid assets, which reveal a nonlinear relationship with the degree of financing constraints. T...