Waseda Institute for Advanced Study (WIAS)Waseda University

News

Waseda Organizational and Financial Economics Seminar: “Unconventional Monetary Policy and Firm Performance: Evidence from Japan” (June 24)

Waseda Organizational and Financial Economics Seminar:
“Unconventional Monetary Policy and Firm Performance: Evidence from Japan” (June 24)

講演者 / Speaker

HUANG, Bihong (Research Fellow, Asian Development Bank Institute)

  • Field of Research Interests
    Economic development, Climate change and the environment, Inclusive and sustainable finance
日 時 / Date & Time

Monday, 24 June 2019, 13:00 – 14:30

会 場 / Venue

Rm. #1111 on the 11th floor, Building #11, Waseda University

主 旨 / Outline

“Unconventional Monetary Policy and Firm Performance: Evidence from Japan”

How the monetary policy affects firm performance is a classic question relevant for monetary authorities to understand the impact of their policy actions on the real economy. In this paper, we utilize the Comprehensive Monetary Easing (CME) policy introduced by Bank of Japan in Oct 2010 as a quasi-natural experiment to evaluate how the firms’ performance changes in response to the policy and its working mechanism. This exogenous and unexpected deviation of monetary policy from its systematic rule helps us to identify the bank lending channel of monetary policy. The empirical analysis on a unique data covering 3.7 million of SMEs in Japan reveals that facing increasing liquidity brought about by the recent unconventional monetary easing, the banks are willing to take more risks, which helps to moderate SEMs’ financial constraints and improve SMEs’ performance.

プログラム / Schedule

13:00~13:05 Opening Remarks (MIYAJIMA, Hideaki (Advisor, WIAS / Professor, Waseda University))
13:05~14:05 Presentation
14:05~14:25 Question-and-answer session
14:25~14:30 Concluding Remarks(MIYAJIMA, Hideaki )

対 象 / Prospected Audience

Faculty and staff members of a university, grad students, undergraduates, the general public

主 催 / Organizer

Research Institute of Business Administration, Waseda University
Waseda Institute for Advanced Study, Waseda University

申込み / Registration

Free of charge. Please come to the event venue directly.

Dates
  • 0624

    MON
    2019

Place

Rm. #1111 on the 11th floor, Building #11, Waseda University

Tags
Posted

Fri, 14 Jun 2019

Page Top
WASEDA University

Sorry!
The Waseda University official website
<<https://www.waseda.jp/inst/wias/en/>> doesn't support your system.

Please update to the newest version of your browser and try again.

Continue

Suporrted Browser

Close