Portfolio Rebalancing in Japan : Constraints and Implications for Quantitative Easing

Constraints and Implications for Quantitative Easing

Portfolio Rebalancing in Japan : Constraints and Implications for Quantitative Easing
Portfolio rebalancing is a key transmission channel of quantitative easing in Japan. We construct a realistic rebalancing scenario, which suggests that the BoJ may need to taper its JGB purchases in 2017 or 2018, given collateral needs of banks, asset-liability management constraints of insurers, and announced asset allocation targets of major... READ MORE...

Publication date: August 2015
ISBN 9781513557595
$18.00

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