 | Credit Misallocation and Economic Growth in Vietnam Author/Editor: Mitsuru Katagiri. Release Date:September, 2019 The legacy of non-performing loans and high opportunity cost of government financing of bank recapitalization impeded the efficiency of financial intermediation and are an important policy issue in more...
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| Equilibrium Yield Curve, the Phillips Curve, and Monetary Policy Author/Editor: Mitsuru Katagiri. Release Date:November, 2018 Upward sloping yield curves are hard to reconcile with the positive association between income and inflation (the Phillips curve) in consumption-based asset pricing models. Using US and UK data, this more...
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| House Price Synchronization and Financial Openness: A Dynamic Factor Model Approach Author/Editor: Mitsuru Katagiri. Release Date:September, 2018 This paper investigates the developments in house price synchronization across countries by a dynamic factor model using a country- and city-level dataset, and examines what drives the more...
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| Banking in a Steady State of Low Growth and Interest Rates Author/Editor: Qianying Chen, Mitsuru Katagiri, Jay Surti. Release Date:August, 2018 A prolonged low-interest-rate environment presents a significant challenge to banks and is likely to entail major changes to their business models over the long-run. Lower returns to maturity more...
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