Better “financial soundness” of banks could help mitigate the volatility of financial cycles by reducing banks’ risk exposure. But trying to improve financial soundness in the midst of a downturn can do the opposite—further aggravating the contraction of credit. Consistent with this notion, the paper found that better initial scores in certain financial soundness indicators (FSIs) are associated with milder and shorter downturns; and improving FSIs during a downturn worsens the shrinkage of credit and amplifies the cycle. In this context, our results suggest that policy makers should be mindful about the timing of regulating changes in banks’ FSIs.
This paper defines financial market spillovers as the comovement between two countries’ financial markets and analyzes financial market spillovers over the period 2001-12 through four channels: bilateral portfolio investment, bilateral trade, home bias, and country concentration. The paper finds that, if a country has a large amount of bilateral portfolio exposure in another country, these two countries’ comovement of bond yields are large. Also, countries’ geographical preferences impact financial spillovers; if a country has a stronger home bias, the country could have less spillovers from foreign financial markets. A policy implication from this result is that, if countries become less home-biased and have a greater amount of portfolio investment assets, they should strengthen prudential regulations to mitigate against rising risks of financial spillovers (or risk greater volatility owing to comovement with foreign markets).
This paper defines financial market spillovers as the comovement between two countries’ financial markets and analyzes financial market spillovers over the period 2001-12 through four channels: bilateral portfolio investment, bilateral trade, home bias, and country concentration. The paper finds that, if a country has a large amount of bilateral portfolio exposure in another country, these two countries’ comovement of bond yields are large. Also, countries’ geographical preferences impact financial spillovers; if a country has a stronger home bias, the country could have less spillovers from foreign financial markets. A policy implication from this result is that, if countries become less home-biased and have a greater amount of portfolio investment assets, they should strengthen prudential regulations to mitigate against rising risks of financial spillovers (or risk greater volatility owing to comovement with foreign markets).
Better “financial soundness” of banks could help mitigate the volatility of financial cycles by reducing banks’ risk exposure. But trying to improve financial soundness in the midst of a downturn can do the opposite—further aggravating the contraction of credit. Consistent with this notion, the paper found that better initial scores in certain financial soundness indicators (FSIs) are associated with milder and shorter downturns; and improving FSIs during a downturn worsens the shrinkage of credit and amplifies the cycle. In this context, our results suggest that policy makers should be mindful about the timing of regulating changes in banks’ FSIs.
This exciting new Japanese stitch dictionary is from popular designer Yoko Hatta--the founder and driving force behind the Kazekobo Studio. Though this is her first book in English, her work already has an extensive following in Western countries--more than 1,000 of her designs can be seen on Ravelry.com. Hatta is one of several Japanese knitters whose patterns and designs have sparked an explosion of interest in Japanese knitting techniques and aesthetics around the world. Her work in knitwear design spans more than thirty years, and knitters love her modern-yet-timeless, fun-yet-classy styles. This book presents her 200 favorite Kazekobo stitch patterns--a delightful selection of multipurpose knit-and-purl, lace, cable, Aran and rib & twist stitches in solids and motifs. Sample projects give knitters a chance to practice Hatta's techniques. These include: Mini mufflers using knit-and-purl stitches A cozy scallop-edged scarf using lace stitches A beautifully textured pair of mittens using cable and Aran stitches A stylish and sturdy pair of two-tone socks using rib and twist stitches Experienced knitters will find a wealth of unique patterns just waiting to be brought to life. A guide to the basic symbols shows how to knit the stitches, step-by-step. Originally published in Japanese by Nihon Vogue, whose books have brought the designs of artists such as Hitomi Shida, Keiko Okamoto and others to knitters around the world, this book will be a much-anticipated addition to every knitter's library.
In this fascinating and wide-ranging book, Yoko Kawaguchi explores the Western portrayal of Japanese women—and geishas in particular—from the mid-nineteenth century to the present day. She argues that in the West, Japanese women have come to embody certain ideas about feminine sexuality, and she analyzes how these ideas have been expressed in diverse art forms, ranging from fiction and opera to the visual arts and music videos. Among the many works Kawaguchi discusses are the art criticism of Baudelaire and Huysmans, the opera Madama Butterfly, the sculptures of Rodin, the Broadway play Teahouse of the August Moon, and the international best seller Memoirs of a Geisha. Butterfly’s Sisters also examines the impact on early twentieth-century theatre, drama, and dance theory of the performance styles of the actresses Madame Hanako and Sadayakko, both formerly geishas.
Tokyo is home to a creative and daring street-style scene, rich with subcultures and shaped by constant motion. In Tokyo Street Style, fashion writer Yoko Yagi explores influential trends, covering an eclectic range of styles from kawaii cute to genderless looks, while designers, editors, models, stylists, and other important personalities in the Tokyo fashion scene share their individual approaches to style in interviews. Moving from a glimpse of the outrageous fashion found on the streets of Harajuku to everyday-chic work and weekend attire, this comprehensive guide offers a lively overview of an extraordinary urban culture with a rich collection of inspirational photographs and practical guidance for cultivating Tokyo style, no matter where you live. Concluding with a curated selection of the best boutiques and vintage stores, along with some of the most fashionable places to eat and drink, Tokyo Street Style is a colorful lookbook and travel guide filled with insight from Japan’s most fascinating tastemakers.
A first-of-its-kind Japanese crochet stitch dictionary! For the first time in English, popular knitwear designer Yoko Hatta shows you creative ways to use a little leftover yarn and your own sense of design. You'll find round, square, triangle, polygon and Irish crochet motifs--from really simple to deliciously intricate--all waiting to be incorporated into your latest needlework projects. Make scarves and blankets using the all-time favorite granny squares, or shawls using polygons. Join circles (or throw in some squares) to make fun wall hangings, room dividers and more. Use beautiful Irish crochet motifs to embellish garments, form the outside of a bag, or make into a brooch. Find plenty of ideas for using color, from offbeat mono-and-duo-chromatic arrangements to splashy, multicolored pieces. Mastering even just a few of these motifs will open you to endless possibilities. Separate sections explain all the crochet symbols used and show you how to assemble the arrangements. Published in the same format as the bestselling Tuttle Publishing knitting dictionaries (Japanese Knitting Stitch Bible, 250 Japanese Knitting Stitches, Yoko Hatta's Japanese Knitting Stitches from Tokyo's Kazekobo Studio ), this book finally brings the same access and knowledge to crocheters.
Thank you for visiting our website. Would you like to provide feedback on how we could improve your experience?
This site does not use any third party cookies with one exception — it uses cookies from Google to deliver its services and to analyze traffic.Learn More.