policy

Firm-specific risk-neutral distributions with options and CDS

Challenges of balancing monetary policy with fiscal policy

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In my opening statement, I would like to address the relationship between monetary and fiscal policy, as their successful interaction is critical for dealing with shocks, such as the economic fallout of the pandemic crisis, and what will come in its aftermath. First, the interaction between monetary and fiscal policy has made a comeback in … Read more

Firm-specific risk-neutral distributions with options and CDS

Economic activity, prices and monetary policy in Japan

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I. Recent Economic and Price Developments A. Economic Developments I will begin my speech by talking about overseas economies. The growth rates for the April-June quarter of 2020 were substantially negative in many countries due to measures such as lockdowns implemented in response to the spread of the novel coronavirus (COVID-19). However, those for the … Read more