Special Lectures

The Role of Capital for Central Banks

Kazuo Ueda

Articles

The Availability of Scale Economies in Japanese Credit Cooperatives’ Horizontal Mergers	Kamon Iwatsubo
An Empirical Analysis of Bubble in Exchange Rates Based on Blanchard-Quah Decomposition	Masao Kumamoto
An Empirical Investigation of Cost Efficiency in Japanese Banking	Keiichi Hori
Pricing-to-market and Inflation Targeting	Eishi Okano
Measuring the Efficiency in Japanese Credit Associations	Kozo Harimaya
Policy Reaction Function in Japan	Masafumi Kozuka

Book Reviews

Matsumoto, A. (Yoshida, K.) Fukao, M. and H. Yoshikawa (Nakagawa, R.) Saito, T. (Fukamachi, I.) Teranishi, J. (Tanaka, H.) The Nikkei Financial Daily ed. (Shizume, M.) Stiglitz, J. E. and B. Greenwald (Sakakibara, E.) Hanazaki, M. and J. Teranishi (Suto, M.) Saito, T. (Fukumitsu, K.) Tsuda, K. (Ichinose, A.)