Refine
Year of publication
Document Type
- Working Paper (17)
- Article (10)
- Part of Periodical (7)
- Report (6)
- Part of a Book (3)
- Book (1)
- Conference Proceeding (1)
- Review (1)
Has Fulltext
- yes (46)
Is part of the Bibliography
- no (46) (remove)
Keywords
- Japan (46) (remove)
Institute
- Gesellschaftswissenschaften (6)
- Wirtschaftswissenschaften (6)
- Center for Financial Studies (CFS) (5)
- Exzellenzcluster Die Herausbildung normativer Ordnungen (4)
- Extern (3)
- Interdisziplinäres Zentrum für Ostasienstudien (IZO) (3)
- Institute for Monetary and Financial Stability (IMFS) (2)
- Kulturwissenschaften (2)
- Sprachwissenschaften (1)
Japan's quest for energy security : risks and opportunities in a changing geopolitical landscape
(2011)
For much of the 20th century, economic growth was fueled by cheap oil-based energy supply. Due to increasing resource constraints, however, the political and strategic importance of oil has become a significant part of energy and foreign policy making in East and Southeast Asian countries. In Japan, the rise of China’s economic and military power is a source of considerable concern. To enhance energy security, the Japanese government has recently amended its energy regulatory framework, which reveals high political awareness of risks resulting from the looming key resources shortage and competition over access. An essential understanding that national energy security is a politically and economically sensitive area with a clear international dimension affecting everyday life is critical in shaping a nation’s energy future.
Intangible assets as goodwill, licenses, research and development or customer relations become in high technology and service orientated economies more and more important. But comparing the book values of listed companies and their market capitalization the financial reports seems to fail the information needs of market participants regarding the estimate of the proper firm value. Moreover, with the introduction of Anglo-American accounting systems in Europe and Asia we can observe even in the accounts of companies sited in the same jurisdiction diverging accounting practices for intangible assets caused by different accounting standards. To assess the relevance of intangible assets in Japanese and German accounts of listed companies we therefore measure certain balance sheet and profit and loss relations according to goodwill and self-developed software. We compare and analyze valuation rules for goodwill and software costs according to German GAAP, Japanese GAAP, US GAAP and IAS to determine the possible impact of diverging rules in the comparability of the accounts. Our results show that the comparability of the accounts is impaired because of different accounting practices. The recognition and valuation of goodwill and self-developed software varies significantly according to the accounting regime applied. However, for the recognition of self-developed software, the effect on the average impact on asset coefficients or profit is not that high. Moreover, an industry bias can only be found for the financial industry. In contrast, for goodwill accounting we found major differences especially between German and Japanese Blue Chips. The introduction of the new goodwill impairment only approach and the prohibition of the pooling method may have a major impact especially for Japanese companies’ accounts.
Das weibliche Herz hat im Allgemeinen folgende Fehler: Ungehorsam, Verdrießlichkeit, Schimpfsucht, Eifersucht und Dummheit. Diese fünf Fehler finden sich sicherlich bei sieben oder acht von zehn Frauen, und deshalb stehen sie den Männern nach ... Unter den Fehlern ist die Dummheit der Grund für alle anderen. Die Frau hat die Natur des Yin. Dieses Yin ist Nacht und Dunkel. Wenn man deshalb die Frauen mit den Männern vergleicht, sind sie dumm; sie wissen nicht das ganz Selbstverständliche und verstehen nicht einmal das, was Schande über sie bringen wird. (NEUSSKANEKO, Margret: Familie und Gesellschaft in Japan. Seite 27)
In this paper we study the role of the exchange rate in conducting monetary policy in an economy with near-zero nominal interest rates as experienced in Japan since the mid-1990s. Our analysis is based on an estimated model of Japan, the United States and the euro area with rational expectations and nominal rigidities. First, we provide a quantitative analysis of the impact of the zero bound on the effectiveness of interest rate policy in Japan in terms of stabilizing output and inflation. Then we evaluate three concrete proposals that focus on depreciation of the currency as a way to ameliorate the effect of the zero bound and evade a potential liquidity trap. Finally, we investigate the international consequences of these proposals.
Using a set of regional inflation rates we examine the dynamics of inflation dispersion within the U.S.A., Japan and across U.S. and Canadian regions. We find that inflation rate dispersion is significant throughout the sample period in all three samples. Based on methods applied in the empirical growth literature, we provide evidence in favor of significant mean reversion (ß-convergence) in inflation rates in all considered samples. The evidence on ó-convergence is mixed, however. Observed declines in dispersion are usually associated with decreasing overall inflation levels which indicates a positive relationship between mean inflation and overall inflation rate dispersion. Our findings for the within-distribution dynamics of regional inflation rates show that dynamics are largest for Japanese prefectures, followed by U.S. metropolitan areas. For the combined U.S.-Canadian sample, we find a pattern of within-distribution dynamics that is comparable to that found for regions within the European Monetary Union (EMU). In line with findings in the so-called 'border literature' these results suggest that frictions across European markets are at least as large as they are, e.g., across North American markets. Klassifikation: E31, E52, E58
Recently, the Bank of Japan outlined a “two perspectives” approach to the conduct of monetary policy that focuses on risks to price stability over different time horizons. Interpreting this as pertaining to different frequency bands, we use band spectrum regression to study the determination of inflation in Japan. We find that inflation is related to money growth and real output growth at low frequencies and the output gap at higher frequencies. Moreover, this relationship reflects Granger causality from money growth and the output gap to inflation in the relevant frequency bands. Keywords: spectral regression, frequency domain, Phillips curve, quantity theory. JEL Numbers: C22, E3, E5