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Author: Ms.Elif C Arbatli Publisher: International Monetary Fund ISBN: 1484302362 Category : Business & Economics Languages : en Pages : 48
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
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
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: Sebastian Maslow Publisher: Routledge ISBN: 1317062779 Category : Political Science Languages : en Pages : 203
Book Description
The increase of new complex security challenges and the heightening significance of a diverse array of actors has simultaneously posed a challenge to traditional perspectives on international relations and foreign policy and created an opportunity for new concepts to be applied. Conventional explanations of Japan’s foreign policy have provided us with theoretically predetermined understandings and fallacious predictions. Reformulating risk in its application to the study of international relations and foreign policy, this volume promises new insights into the analysis of contemporary foreign policy in East Asia and Japan’s post-Cold War international relations in particular.
Author: C. James Hueng Publisher: W.E. Upjohn Institute ISBN: 0880996765 Category : Business & Economics Languages : en Pages : 133
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: Satsuki Kawano Publisher: University of Hawaii Press ISBN: 0824838688 Category : Social Science Languages : en Pages : 370
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: Ian Neary Publisher: John Wiley & Sons ISBN: 1509535853 Category : Political Science Languages : en Pages : 298
Book Description
Politics in Japan is undergoing a major transformation. Under the leadership of Prime Minister Abe Shinzo, the ruling Liberal Democratic Party has, since 2012, embarked upon an ambitious programme of policy reforms as well as changes to Japan’s governing structures and processes. At the heart of this policy agenda is ‘Abenomics’ – a set of measures designed to boost Japan’s flagging economy, but one which is yet to deliver on its promises. In this fully revised and updated second edition of his classic text, Ian Neary explores the dynamics of democracy in Japan, introducing the key institutions, developments and actors in its politics from the end of the Second World War to the present day. Packed with illustrative material and examples, this comprehensive study traces the continuities and the changes that are underway in five major policy areas: foreign and defence, industry, social welfare, the environment and human rights. Assuming no prior knowledge of Japan, this textbook will be an invaluable and welcome resource for all students interested in the government and politics of contemporary Japan and its international profile.
Author: Michael J. Green Publisher: Rowman & Littlefield ISBN: 1442279753 Category : Political Science Languages : en Pages : 240
Book Description
Japanese security, economic, institutional, and developmental policies have undergone a remarkable evolution in the 70 years since the end of World War II. In this volume, distinguished Japanese scholars reflect on the evolution of these policies and draw lessons for the coming decades. The pillars of Japan’s reentry into the international community since 1945 remain no less important seven decades later as Japan’s economy and society enter the next phase of maturity. The authors demonstrate the continuing viability of Japan’s postwar strategic choices, as well as the inevitability of adaptation to challenging new circumstances. This book will be of interest to historians of U.S.-Japan relations and policy makers seeking to place today’s policy issues in a historical context. Contributions by Akiko Imai, Akiko Fukushima, Jun Saito, Kazuya Sakamoto, Yoshihide Soeya, and Yoko Takeda
Author: Kenneth J. Singleton Publisher: University of Chicago Press ISBN: 0226760685 Category : Business & Economics Languages : en Pages : 208
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: Yoichi Funabashi Publisher: Brookings Institution Press ISBN: 0815737688 Category : Political Science Languages : en Pages : 417
Book Description
A 2020 CHOICE Outstanding Academic Title Japan's challenges and opportunities in a new era of uncertainty Henry Kissinger wrote a few years ago that Japan has been for seven decades “an important anchor of Asian stability and global peace and prosperity.” However, Japan has only played this anchoring role within an American-led liberal international order built from the ashes of World War II. Now that order itself is under siege, not just from illiberal forces such as China and Russia but from its very core, the United States under Donald Trump. The already evident damage to that order, and even its possible collapse, pose particular challenges for Japan, as explored in this book. Noted experts survey the difficult position that Japan finds itself in, both abroad and at home. The weakening of the rules-based order threatens the very basis of Japan's trade-based prosperity, with the unreliability of U.S. protection leaving Japan vulnerable to an economic and technological superpower in China and at heightened risk from a nuclear North Korea. Japan's response to such challenges are complicated by controversies over constitutional revision and the dark aspects of its history that remain a source of tension with its neighbors. The absence of virulent strains of populism have helped to provide Japan with a stable platform from which to pursue its international agenda. Yet with a rapidly aging population, widening intergenerational inequality, and high levels of public debt, the sources of Japan's stability—its welfare state and immigration policies—are becoming increasingly difficult to sustain. Each of the book's chapters is written by a specialist in the field, and the book benefits from interviews with more than 40 Japanese policymakers and experts, as well as a public opinion survey. The book outlines today's challenges to the liberal international order, proposes a role for Japan to uphold, reform and shape the order, and examines Japan's assets as well as constraints as it seeks to play the role of a proactive stabilizer in the Asia-Pacific.
Author: Ms.Elif C Arbatli
Author: Ms.Elif C Arbatli
Author: Ms.Elif C Arbatli
Author: Frank Baldwin
Author: Sebastian Maslow
Author: C. James Hueng
Author: Satsuki Kawano
Author: Ian Neary
Author: Michael J. Green
Author: Kenneth J. Singleton
Author: Yoichi Funabashi