메뉴 건너뛰기




Volumn 58, Issue 3, 2007, Pages 303-328

The effects of the bank of Japan's zero interest rate commitment and quantitative monetary easing on the yield curve: A macro-finance approach

Author keywords

[No Author keywords available]

Indexed keywords

BANKING; FINANCE; INTEREST RATE;

EID: 34547776302     PISSN: 13524739     EISSN: 14685876     Source Type: Journal    
DOI: 10.1111/j.1468-5876.2007.00422.x     Document Type: Article
Times cited : (53)

References (26)
  • 1
    • 0037905686 scopus 로고    scopus 로고
    • "A No-Arbitrage Vector Autoregression of Term Structure Dynamics with Macroeconomics and Latent Variables"
    • May
    • Ang, A. and M. Piazzesi (2003) "A No-Arbitrage Vector Autoregression of Term Structure Dynamics with Macroeconomics and Latent Variables", Journal of Monetary Economics, Vol. 50, May, pp. 745-787.
    • (2003) Journal of Monetary Economics , vol.50 , pp. 745-787
    • Ang, A.1    Piazzesi, M.2
  • 2
    • 4043136574 scopus 로고    scopus 로고
    • "Conducting Monetary Policy at Very Low Short-Term Interest Rates"
    • Bernanke, B. S. and V. R. Reinhart (2004) "Conducting Monetary Policy at Very Low Short-Term Interest Rates", American Economic Review, Vol. 94, No. 2, pp. 85-90.
    • (2004) American Economic Review , vol.94 , Issue.2 , pp. 85-90
    • Bernanke, B.S.1    Reinhart, V.R.2
  • 5
    • 0004018246 scopus 로고    scopus 로고
    • 3rd ed., Princeton: Princeton University Press
    • Duffie, D. (2001) Dynamic Asset Pricing Theory, 3rd ed., Princeton: Princeton University Press.
    • (2001) Dynamic Asset Pricing Theory
    • Duffie, D.1
  • 6
    • 0043241015 scopus 로고    scopus 로고
    • "The Zero Bound on Interest Rates and Optimal Monetary Policy"
    • Eggertsson, G. and M. Woodford, (2003) "The Zero Bound on Interest Rates and Optimal Monetary Policy", Brookings Papers on Economic Activity, Vol. 1, pp. 139-233.
    • (2003) Brookings Papers on Economic Activity , vol.1 , pp. 139-233
    • Eggertsson, G.1    Woodford, M.2
  • 7
    • 1342287361 scopus 로고    scopus 로고
    • "Policy Duration Effect Under the Zero Interest Rate Policy in 1999-2000: Evidence from Japan's Money Market Data"
    • Fujiki, H. and S. Shiratsuka (2002) "Policy Duration Effect Under the Zero Interest Rate Policy in 1999-2000: Evidence from Japan's Money Market Data", Monetary and Economic Studies, Vol. 20, No. 1, pp. 1-31.
    • (2002) Monetary and Economic Studies , vol.20 , Issue.1 , pp. 1-31
    • Fujiki, H.1    Shiratsuka, S.2
  • 8
    • 33644519376 scopus 로고    scopus 로고
    • "A Joint Econometric Model of Macroeconomic and Term Structure Dynamics"
    • Hördahl, P., O. Tristani and D. Vestin (2006) "A Joint Econometric Model of Macroeconomic and Term Structure Dynamics", Journal of Econometrics, Vol. 131, No. 1-2, pp. 405-444.
    • (2006) Journal of Econometrics , vol.131 , Issue.1-2 , pp. 405-444
    • Hördahl, P.1    Tristani, O.2    Vestin, D.3
  • 10
    • 25644449569 scopus 로고    scopus 로고
    • "Optimal Monetary Policy at the Zero-Interest-Rate Bound"
    • Jung, T., Y. Teranishi and T. Watanabe (2005) "Optimal Monetary Policy at the Zero-Interest-Rate Bound", Journal of Money, Credit, and Banking, Vol. 37, No. 5, pp. 813-835.
    • (2005) Journal of Money, Credit, and Banking , vol.37 , Issue.5 , pp. 813-835
    • Jung, T.1    Teranishi, Y.2    Watanabe, T.3
  • 13
    • 0002834716 scopus 로고
    • "Measuring the Term Structure of Interest Rates"
    • McCulloch, J. H. (1971) "Measuring the Term Structure of Interest Rates", Journal of Business, Vol. 44, pp. 19-31.
    • (1971) Journal of Business , vol.44 , pp. 19-31
    • McCulloch, J.H.1
  • 14
    • 1242278444 scopus 로고    scopus 로고
    • "Monetary Transmission at Low Inflation: Some Clues from Japan"
    • Bank of Japan
    • Meltzer, A. (2001) "Monetary Transmission at Low Inflation: Some Clues from Japan", Monetary and Economic Studies, Vol. 19, No. S-1, pp. 13-34. Bank of Japan.
    • (2001) Monetary and Economic Studies , vol.19 , Issue.S-1 , pp. 13-34
    • Meltzer, A.1
  • 15
    • 34547727295 scopus 로고    scopus 로고
    • "Money Markets and Monetary Policy under Quantitative Monetary Easing - Analysis on the Monetary Policy Targeting the Current Account Balance at the Bank of Japan-"
    • Policy Research Institute, Ministry of Finance, Japan. (In Japanese)
    • Oda, N. (2002) "Money Markets and Monetary Policy under Quantitative Monetary Easing - Analysis on the Monetary Policy Targeting the Current Account Balance at the Bank of Japan-", Financial Review, Vol. 64, pp. 63-85. Policy Research Institute, Ministry of Finance, Japan. (In Japanese).
    • (2002) Financial Review , vol.64 , pp. 63-85
    • Oda, N.1
  • 17
    • 34547754570 scopus 로고    scopus 로고
    • "On the Function of the Zero Interest Rate Commitment: Monetary Policy Rules in the Presence of the Zero Lower Bound on Interest Rates"
    • (forthcoming)
    • Oda, N. and T. Nagahata (2007) "On the Function of the Zero Interest Rate Commitment: Monetary Policy Rules in the Presence of the Zero Lower Bound on Interest Rates", Journal of the Japanese and International Economics (forthcoming).
    • (2007) Journal of the Japanese and International Economics
    • Oda, N.1    Nagahata, T.2
  • 18
    • 21544451898 scopus 로고    scopus 로고
    • "Further Monetary Easing Policies under the Non-Negativity Constraints of Nominal Interest Rates: Summary of the Discussion Based on Japan's Experience"
    • Oda, N. and K. Okina (2001) "Further Monetary Easing Policies under the Non-Negativity Constraints of Nominal Interest Rates: Summary of the Discussion Based on Japan's Experience", Monetary and Economic Studies, Vol. 19, No. S-1, pp. 323-369.
    • (2001) Monetary and Economic Studies , vol.19 , Issue.S-1 , pp. 323-369
    • Oda, N.1    Okina, K.2
  • 20
    • 1342290416 scopus 로고    scopus 로고
    • "Policy Commitment and Expectation Formation: Japan's Experience Under Zero Interest Rates"
    • Okina, K. and S. Shiratsuka (2004) "Policy Commitment and Expectation Formation: Japan's Experience Under Zero Interest Rates", North American Journal of Economic and Finance, Vol. 15, No. 1, pp. 75-100.
    • (2004) North American Journal of Economic and Finance , vol.15 , Issue.1 , pp. 75-100
    • Okina, K.1    Shiratsuka, S.2
  • 21
    • 17944380399 scopus 로고    scopus 로고
    • "Bond Yields and the Federal Reserve"
    • Piazzesi, M. (2005) "Bond Yields and the Federal Reserve", Journal of Political Economy, Vol. 113, No. 2, pp. 311-444.
    • (2005) Journal of Political Economy , vol.113 , Issue.2 , pp. 311-444
    • Piazzesi, M.1
  • 24
    • 0001673254 scopus 로고    scopus 로고
    • "The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap"
    • Svensson, L. E. O. (2001) "The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap", Monetary and Economic Studies, Vol. 19, No. S-1, pp. 277-312.
    • (2001) Monetary and Economic Studies , vol.19 , Issue.S-1 , pp. 277-312
    • Svensson, L.E.O.1
  • 25
    • 0040126831 scopus 로고    scopus 로고
    • "Causes of Japan's Banking Problems in the 1990s"
    • in Hoshi, T. and H. T. Patrick (eds), Boston: Kluwer Academic Publishers
    • Ueda, K. (2000) "Causes of Japan's Banking Problems in the 1990s", in Hoshi, T. and H. T. Patrick (eds), Crisis and Change in the Japanese Financial System. Boston: Kluwer Academic Publishers.
    • (2000) Crisis and Change in the Japanese Financial System
    • Ueda, K.1
  • 26
    • 33747063162 scopus 로고    scopus 로고
    • "The Transmission Mechanism of Monetary Policy near Zero Interest Rates: The Japanese Experience, 1998-2000"
    • in Mahadeva, L. and P. Sinclair (eds), Cambridge: Cambridge University Press
    • Ueda, K. (2002) "The Transmission Mechanism of Monetary Policy near Zero Interest Rates: The Japanese Experience, 1998-2000", in Mahadeva, L. and P. Sinclair (eds), Monetary Transmission in Diverse Economies. Cambridge: Cambridge University Press.
    • (2002) Monetary Transmission in Diverse Economies
    • Ueda, K.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.