Conference
Presentations at well-recognized academic conferences
2022
ESG Management and Credit Risk Premia: Evidence from Credit Default Swaps for Japan’s Major Companies
Author: |
Kei-Ichiro Inaba |
Year: |
2022 |
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- SEACEN-BOJ Online Course on Issues and Challenges in Macroeconomic and Monetary Theory (hosted by Bank of Mongolia), The SEACEN Centre, K. L., Malaysia.
October 21, 2022
The Crowding Out Effect of Fiscal Expansion on Corporate Borrowing. 2022 Asian Meeting of the Econometric Society in East and South-East Asia, Tokyo, Japan. August 9, 2022
Author: |
Zefeng Chen, Masazumi Hattori, Mai Li, Haonan Zhou |
Year: |
2022 |
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- This paper uncovers a large and unintended spillover effect of expansionary fiscal policy on corporate borrowing. Using a proprietary firm-bank-loan level data from Japan,we provide causal evidence that the significant expansion in the Japanese GovernmentBonds (JGBs) issuance starting from year 1998 crowded out the corporate bonds thatcould have been issued by industrial companies. The affected companies switched to banks for long-term funds to maintain a stable debt maturity structure. Upon the fiscal shock, 1) firms that have relied heavily on bond market began to borrow more long-term loans and extend their bank loan maturity stronger than the comparable counterparts did; 2) no significant effect on short-term loans is found; 3) such fiscal crowding-out effect on bank loans is not driven by bank's credit supply but rather firm's credit demand. We build a simple preferred-habitat model consistent with these findings.
Time Matters Less When Outcomes Differ: The Cross-modal Effect in Different Types of Intertemporal Choices. Behavioral and Experimental Economics Seminar Department of Economics and Business, Pompeu Fabra University, Barcelona, Spain July 14, 2022
Author: |
Yamamoto, S., Read, D., McDonald, R. |
Year: |
2022 |
Sustainable Thoughts for US, Sustainable Feelings for Others. Society for Consumer Psychology Boutique Conference, Honolulu July 12, 2022
Author: |
Erica Mina Okada, Yoshiko Ishikawa |
Year: |
2022 |
Telework in a Land of Overwork: It's Not That Simple or Is It? Sciety for the Advancement of Socio-Economics 2022 Amsterdam July 11, 2022
Author: |
Hiroshi Ono |
Year: |
2022 |
Work and Happiness in Japan: Macro- and Micro-Views. Society for the Advancement of Socio-Economics 2022 Amsterdam July 11,2022
Author: |
Hiroshi Ono, Kristen Schultz Lee |
Year: |
2022 |
The Crowding Out Effect of Fiscal Expansion on Corporate Borrowing. The34th Asian Finance Association Annual Meeting June 28, 2022 Virtual Conference
Author: |
Masazumi Hattori |
Year: |
2022 |
Time Preferences are Affected when Intertemporal Choices Look Like Investments and Loans. Asia Pacific ESA Meeting, University of Osaka, Osaka, Japan, (Virtual) March 18 2022
Author: |
Yamamoto, S. Shotaro, S. |
Year: |
2022 |