Output Gap and Potential Growth Rate

  • Post author:
  • Post category:

Research Data Explanation and Related Materials Notice Inquiries The "output gap" -- which serves as an indicator for the level of economic activity, and, consequently, for the pressure for price change -- and the "potential growth rate" -- which reflects the growth capacity of Japan's economy from a longer-term perspective -- are useful concepts for

Continue ReadingOutput Gap and Potential Growth Rate

Meeting on the Third Market Functioning Survey concerning Climate Change

  • Post author:
  • Post category:

October 1, 2024 Financial Markets Department Bank of Japan The meeting on the results of the third Market Functioning Survey concerning Climate Change was held on September 30, 2024. For the agenda, items, and minutes of the meeting, please see below. Outline of the Meeting Date and Time : September 30, 2024 (16:00-17:00) Form of

Continue ReadingMeeting on the Third Market Functioning Survey concerning Climate Change

Pricing Implications of Centrality in an OTC Derivative Market: An Empirical Analysis Using Transaction-Level CDS Data

  • Post author:
  • Post category:

September 2024 Kohei Maehashi*1 Daisuke Miyakawa*2 Kana Sasamoto*3 Full Text [PDF 803KB] Abstract Using transaction-level records making up the universe of single-name credit default swap (CDS) contracts in Japan, we document whether and how the relative centrality of sellers to buyers, which proxies for their search ability and thus bargaining power, affects single-name CDS prices.

Continue ReadingPricing Implications of Centrality in an OTC Derivative Market: An Empirical Analysis Using Transaction-Level CDS Data