Deflationary Expectations and Real Cost of Capital -Micro-Level Estimates of Investment Function in the1990s (in Japanese)

Satoshi Shimizutani and Terai Akira

Economic Analysis, 2003, vol. 171, 87-106

Abstract: This study estimates firm-level real cost of capital in the 1990s and confirms that deflationary expectations, especially in the second half of the decade, canceled out the effect of the loose monetary policy and dampened business investment.

Date: 2003
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Working Paper: Deflationary Expectations and Real Cost of Capital -Micro-level Estimates of Investment Function in the 1990s(in Japanese) (2003)
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