2021 Fiscal Year Research-status Report
The effects of unconventional policies in the post-crisis era
| Project/Area Number |
18K01621
|
|---|
| Research Institution | International Christian University |
|---|
Principal Investigator |
|
|---|
| Project Period (FY) |
2018-04-01 – 2023-03-31
|
| Keywords | financial institutions / unconventional policy / monetary policy / transmission mechanism / credit channel / bank lending channel |
|---|
| Outline of Annual Research Achievements |
Collection of data on Japanese banks and Japanese unconventional policy is complete. Using a panel of bi-annual bank data covering the full universe of Japanese commercial banks over a fifteen year period, empirical analysis of the effectiveness of quantitative easing policy on the bank lending channel of monetary policy transmission has been completed. Results of this analysis has been presented at several academic conferences and published in an academic journal article.
Despite the challenges of travel due to the pandemic, collection of data on US banks and US unconventional policy responeses is now complete.
|
| Current Status of Research Progress |
Current Status of Research Progress
4: Progress in research has been delayed.
Reason
The coronavirus global pandemic has made it difficult to travel for research collaboration, presentation, data collection etc...
|
| Strategy for Future Research Activity |
During the coming academic year, April 2022 - March 2023 (AY2022・令和４年度）I plan to finish analysis of the US bank data to complete the comparison of Japanese and US banks response to the unconventional monetary policy.
|
| Causes of Carryover |
As explained above, completion of the research plan still requires analysis of the US data. Results of that analysis and comparisons with the analysis of Japanese banks, may be presented at conferences for feedback if global health and travel conditions allow.
|
