Matches in SemOpenAlex for { <https://semopenalex.org/work/W2903670207> ?p ?o ?g. }
Showing items 1 to 86 of
86
with 100 items per page.
- W2903670207 abstract "In this paper, we explore the level and determinants of the natural rate of interest in Japan. To this end, we construct a DSGE model that is specifically designed to address potential drivers of the natural rate that are considered important in previous studies, and estimate the model using Japan's data from 1980 to 2017. Our findings are summarized in the following three points. First, the natural rate has shown a secular decline over time, from 400 basis points in the 1980s, to 30 basis points in the last five years. The decline has been mostly attributed to changes in neutral technology. Changes in investment-specific technology, working-age population, and demand factors have also contributed to the decline, but the quantitative impacts have been small. Second, a secular decline and the quantitative importance of neutral technology are also seen when considering the expected future natural rates over a long horizon, indicating that changes in the natural rate have been perceived as persistent rather than temporal changes over the course of history. Third, in the banking crisis starting in the 1990s, financial factors stood out as an important driver that depressed the natural rate. Their contribution holds second place, after changes in neutral technology, when comparing potential drivers by the size of their contribution to variations in the natural rate. Our results suggest the need to monitor the financial intermediation function, as well as the path of neutral technology when analyzing developments in the natural rate." @default.
- W2903670207 created "2018-12-22" @default.
- W2903670207 creator A5032103020 @default.
- W2903670207 creator A5084438422 @default.
- W2903670207 date "2018-01-01" @default.
- W2903670207 modified "2023-09-27" @default.
- W2903670207 title "Natural Rate of Interest in Japan -- Measuring its size and identifying drivers based on a DSGE model --" @default.
- W2903670207 cites W1964564870 @default.
- W2903670207 cites W2096064009 @default.
- W2903670207 cites W2150740039 @default.
- W2903670207 cites W2537877854 @default.
- W2903670207 cites W3121955422 @default.
- W2903670207 cites W3122288283 @default.
- W2903670207 cites W3123870884 @default.
- W2903670207 hasPublicationYear "2018" @default.
- W2903670207 type Work @default.
- W2903670207 sameAs 2903670207 @default.
- W2903670207 citedByCount "0" @default.
- W2903670207 crossrefType "posted-content" @default.
- W2903670207 hasAuthorship W2903670207A5032103020 @default.
- W2903670207 hasAuthorship W2903670207A5084438422 @default.
- W2903670207 hasConcept C105795698 @default.
- W2903670207 hasConcept C126285488 @default.
- W2903670207 hasConcept C139719470 @default.
- W2903670207 hasConcept C144024400 @default.
- W2903670207 hasConcept C149782125 @default.
- W2903670207 hasConcept C149923435 @default.
- W2903670207 hasConcept C162324750 @default.
- W2903670207 hasConcept C166957645 @default.
- W2903670207 hasConcept C175025494 @default.
- W2903670207 hasConcept C17744445 @default.
- W2903670207 hasConcept C199539241 @default.
- W2903670207 hasConcept C205649164 @default.
- W2903670207 hasConcept C27548731 @default.
- W2903670207 hasConcept C2776608160 @default.
- W2903670207 hasConcept C2908647359 @default.
- W2903670207 hasConcept C33923547 @default.
- W2903670207 hasConcept C489367 @default.
- W2903670207 hasConcept C49630185 @default.
- W2903670207 hasConcept C94625758 @default.
- W2903670207 hasConceptScore W2903670207C105795698 @default.
- W2903670207 hasConceptScore W2903670207C126285488 @default.
- W2903670207 hasConceptScore W2903670207C139719470 @default.
- W2903670207 hasConceptScore W2903670207C144024400 @default.
- W2903670207 hasConceptScore W2903670207C149782125 @default.
- W2903670207 hasConceptScore W2903670207C149923435 @default.
- W2903670207 hasConceptScore W2903670207C162324750 @default.
- W2903670207 hasConceptScore W2903670207C166957645 @default.
- W2903670207 hasConceptScore W2903670207C175025494 @default.
- W2903670207 hasConceptScore W2903670207C17744445 @default.
- W2903670207 hasConceptScore W2903670207C199539241 @default.
- W2903670207 hasConceptScore W2903670207C205649164 @default.
- W2903670207 hasConceptScore W2903670207C27548731 @default.
- W2903670207 hasConceptScore W2903670207C2776608160 @default.
- W2903670207 hasConceptScore W2903670207C2908647359 @default.
- W2903670207 hasConceptScore W2903670207C33923547 @default.
- W2903670207 hasConceptScore W2903670207C489367 @default.
- W2903670207 hasConceptScore W2903670207C49630185 @default.
- W2903670207 hasConceptScore W2903670207C94625758 @default.
- W2903670207 hasLocation W29036702071 @default.
- W2903670207 hasOpenAccess W2903670207 @default.
- W2903670207 hasPrimaryLocation W29036702071 @default.
- W2903670207 hasRelatedWork W100288902 @default.
- W2903670207 hasRelatedWork W126581394 @default.
- W2903670207 hasRelatedWork W191024329 @default.
- W2903670207 hasRelatedWork W2080260743 @default.
- W2903670207 hasRelatedWork W2184601544 @default.
- W2903670207 hasRelatedWork W2226627976 @default.
- W2903670207 hasRelatedWork W2388727630 @default.
- W2903670207 hasRelatedWork W2519453863 @default.
- W2903670207 hasRelatedWork W2520174775 @default.
- W2903670207 hasRelatedWork W2888605697 @default.
- W2903670207 hasRelatedWork W2903560971 @default.
- W2903670207 hasRelatedWork W2906844301 @default.
- W2903670207 hasRelatedWork W3013159958 @default.
- W2903670207 hasRelatedWork W3123121432 @default.
- W2903670207 hasRelatedWork W3124549986 @default.
- W2903670207 hasRelatedWork W3125676710 @default.
- W2903670207 hasRelatedWork W3151449868 @default.
- W2903670207 hasRelatedWork W3154944030 @default.
- W2903670207 hasRelatedWork W41038791 @default.
- W2903670207 hasRelatedWork W3121572513 @default.
- W2903670207 isParatext "false" @default.
- W2903670207 isRetracted "false" @default.
- W2903670207 magId "2903670207" @default.
- W2903670207 workType "article" @default.