Koichiro, KAMADA; Yoshiyuki, KURACHI - Research Institute of Economy, Trade and Industry (RIETI) - 2012
This paper analyzes the impact of an increase in Japanese government bonds (JGB) yields on the Japanese banks and the macro economy, based on the Financial Macro-econometric Model introduced by Ishikawa et al. (2011). When the yields on government bonds increase, banks incur unrealized losses in...