Using a unique micro dataset compiled from official real estate registries in Japan, we examine the evolution of loan-to-value (LTV) ratios for business loans over the 1975 to 2009 period, the determinants of these ratios, and the ex post performance of the borrowers. We find that the LTV ratio...

Using a large and unique micro dataset compiled from the official real estate registry in Japan, we examine the loan-to-value (LTV) ratios for business loans from 1975 to 2009 to draw some implications for the ongoing debate on the use of LTV ratio caps as a macro-prudential policy measure. We...

This is the first book to report the details of the current status of interfirm relationships in Japan. Based on a unique data set of firms, the authors describe the characteristics of interfirm transactions in a manner unprecedented in the literature. Special emphasis is placed on the nature of...