Since 2014
Deterministic Elements of Japanese Stock Prices under Low Interest Rates
Journal of Economic & Financial Studies
View Archive Info| Field | Value | |
| Title |
Deterministic Elements of Japanese Stock Prices under Low Interest Rates
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| Creator |
Kurihara, Yutaka
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| Subject |
International Finance (E43; E52; G11; G12; G15)
Exchange rate; Japan; Stock price; Zero interest rate policy. Finance |
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| Description |
This paper uses daily data to perform an empirical analysis of the relationship between recent Japanese stock prices and macroeconomic variables under the zero or low interest policy in Japan. The empirical results indicate that short-term interest rates have not impacted Japanese stock prices. On the other hand, long-term interest rates, exchange rates, and foreign stock prices have been significant determinants of Japanese stock prices. This seems counter to traditional economic theory, but interest rates were quite low and other variables, such as exchange rates and other stock prices, play important roles in determining Japanese stock prices.
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| Publisher |
LAR Center Press
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| Contributor |
—
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| Date |
2016-05-04
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://journalofeconomics.org/index.php/site/article/view/224
10.18533/jefs.v4i02.224 |
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| Source |
Journal of Economic & Financial Studies; Vol 4, No 02 (2016): April; 24-30
2379-9471 2379-9463 |
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| Language |
eng
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| Relation |
http://journalofeconomics.org/index.php/site/article/view/224/283
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| Rights |
Copyright (c) 2016 Yutaka Kurihara
http://creativecommons.org/licenses/by/4.0 |
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