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150128 ||| eng |
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|a 9781451855890
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100 |
1 |
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|a Bayoumi, Tamim
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245 |
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|a A Peek Inside the Black Box
|b The Monetary Transmission Mechanism in Japan
|c Tamim Bayoumi, James Morsink
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1999
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300 |
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|a 36 pages
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651 |
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4 |
|a Japan
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653 |
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|a Credit
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|a Banks
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|a Finance
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|a Banks and banking
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653 |
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|a Industries: Financial Services
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653 |
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|a Intangible Capital
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653 |
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|a Mortgages
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653 |
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|a National accounts
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653 |
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|a Money
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653 |
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|a Bank credit
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653 |
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|a Macroeconomics
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653 |
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|a Banking
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653 |
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|a Capacity
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653 |
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|a Capital
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653 |
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|a Money Multipliers
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|a Depository Institutions
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|a Investment
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|a Private investment
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|a Monetary economics
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653 |
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|a Financial institutions
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653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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653 |
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|a Micro Finance Institutions
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653 |
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|a Money supply
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653 |
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|a Monetary base
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|a Loans
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|a Saving and investment
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|a Banks and Banking
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653 |
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|a Investments: General
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653 |
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|a Money Supply
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653 |
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|a Monetary policy
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653 |
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|a Monetary Policy
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653 |
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|a Money and Monetary Policy
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|a Monetary transmission mechanism
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700 |
1 |
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|a Morsink, James
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|a eng
|2 ISO 639-2
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|b IMF
|a International Monetary Fund
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|a IMF Working Papers
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028 |
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|a 10.5089/9781451855890.001
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856 |
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|u https://elibrary.imf.org/view/journals/001/1999/137/001.1999.issue-137-en.xml?cid=3293-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a This paper uses vector autoregressions to examine the monetary transmission mechanism in Japan. The empirical results indicate that both monetary policy and banks’ balance sheets are important sources of shocks, that banks play a crucial role in transmitting monetary shocks to economic activity, that corporations and households have not been able to substitute borrowing from other sources for a shortfall in bank borrowing, and that business investment is especially sensitive to monetary shocks. We conclude that policy measures to strengthen banks are probably a prerequisite for restoring the effectiveness of the monetary transmission mechanism
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