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Conference Paper
Interest rates and uncertainty: nominal and risk-adjusted yields
Conference Paper
Lessons from financial crisis: the Japanese case
Journal Article
Japan's new prime minister and the Postal Savings System
This Economic Letter discusses the economics and politics of the PSS from both a historical and a forward-looking perspective. How Japan deals with the PSS and its associated institutions will reveal much about whether Japan is capable of developing a modern financial system that can return the economy to sustained growth and that can meet the challenge of a rapidly changing population.
Conference Paper
The evolution of Japanese banking: isolation to globalization
Journal Article
Central bank capital, financial strength, and the Bank of Japan
This Economic Letter addresses central bank capital and financial strength in the context of Bank of Japan policy (Cargill 2005). Specifically, it reviews general considerations about central bank capital and financial strength, discusses recent Bank of Japan policy in the context of capital structure, evaluates the Bank of Japan's concern in the context of the broader issue of central bank independence, and draws some lessons from recent Bank of Japan policy.
Journal Article
A tale of two monetary policies: Korea and Japan
In most countries' experience, the course of financial liberalization?much like the course of true love in Shakespeare?"never did run smooth." The process of reforming an economy from one where the government takes the lead in allocating financial and real resources to one where market forces determine economic outcomes can involve choices and consequences that are painful and costly. ; This Economic Letter focuses on recent developments in two major economies in Asia?South Korea and Japan?to highlight some of the differences in their progress and to suggest that the differences might be due ...
Journal Article
Japan passes again on fundamental financial reform