... Mechanism of Monetary Policy in Japan: Evidence from Banks’ Balance Sheets, Journal of Japanese International Economics 20, 380-405. International Monetary Fund (IMF), 2003, Japan: Financial Stability ... growth from time t-2 to t-1; ∆log(Depositi,t-2): log deposit growth from time t-3 to t-2; ∆log(Loani,t-1): log loan growth from time t-2 to t-1; ∆log(Depositi,t-2): log loan growth from ... Macro-Finance Approach, Bank of Japan, Working Paper No. 05-E-6 (Tokyo: Bank of Japan) . Okina, K., and S. Shiratsuka, 2004, Policy Commitment and Expectation Formation: Japan s Experience under Zero...