In this paper, we investigate how negative interest rate policy (NIRP) introduced in January 2016 by the Bank of Japan (BoJ) affected Japanese banks' lending and risk taking behavior. The BoJ's announcement was an unexpected surprise to the market and was followed by a sharp drop in equity prices of Japanese financial firms. We exploit the cross-sectional variation in the change of share prices on the day of the announcement to measure banks' differential exposure to NIRP. We show that more exposed banks increased their credit and took on more risk compared to banks that were less exposed to negative rates.
In this paper, we investigate how negative interest rate policy (NIRP) introduced in January 2016 by the Bank of Japan (BoJ) affected Japanese banks' lending and risk taking behavior. The BoJ's announcement was an unexpected surprise to the market and was followed by a sharp drop in equity prices of Japanese financial firms. We exploit the cross-sectional variation in the change of share prices on the day of the announcement to measure banks' differential exposure to NIRP. We show that more exposed banks increased their credit and took on more risk compared to banks that were less exposed to negative rates.
This book unravels the role of Point-of-Care (POC) glucose monitoring as an essential part of diabetes management. It provides the reader with an in-depth knowledge and understanding of diabetes management, including: the need for POC glucose monitoring the glucose detection technologies (invasive, noninvasive and continuous) being used in the POC devices the analytical performance, characteristics, pros and cons of the POC devices developed to date the importance and role of glycated hemoglobin (HbA1c) monitoring for diabetes management the various POC devices and analyzers for the determination of HbA1c. This is the first book to provide complete up-to-date information on POC glucose detection technologies and devices for diabetic monitoring and management. It will be an important reference for healthcare professionals, biomedical engineers, researchers, economists and policy makers. This book also serves as an asset and teaching aid for professionals and researchers in diabetic monitoring and management.
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