We examine the role of bank loans in the Japanese economy by analyzing the lending behavior of banking firms and the investment behavior of non-financial firms.

Standard money-in-utlity dynamic models assume satiable liquidity preference, and thereby prove the existence of a full employment steady state. Using the same model, Ono (1994) shows that under insatiable liquidity preference there is a case where a full employment steady state does not exist...

We project the future trends of the japanese saving rates with special emphasis on an analysis of the consumption and saving behavior of the household sector. Notable feature of our modeling is that savings are divided into financial and real savings components. This approach is useful since the...

We estimate a corporate demand model for bank loans on the basis of a panel data set of the Japanese corporations. What is novel is an explicit treatment of borrowing constraints in the estimation, which is formulated as a function of the land asset of the firms. The model is estimated by...

Based on a panel data set of the Japanese corporations, we investigate into the collateral role of the land assets. We estimate the Euler equation of investment decision rule by the GMM when the corporations face borrowing constraints.

We analyse the contribution of land to production activity for Japanese manufacturing industries employing panel data of the firms. Since land is not necessarily held for production purpose, we check the concavity of the cost function to see whether production is conducted efficiently.

We examine the role of bank loans in the Japanese economy by analyzing the lending behavior of banking firms and the investment behavior of non-financial firms.