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...
JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES 15(2) 160-177 2001年6月 [査読有り]
This paper examines the determinants of trade credit in Japanese manufacturing companies. The empirical analysis presents evidence that the volume of trade credit is influenced not only by transactional factors hut also by financial positions. The...