Microeconomics of Financial Stability and Banking Regulation

• Project/Area Number: 15K03369
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Economic theory
• Research Institution: Ritsumeikan University
• Principal Investigator: Kobayashi Mami 立命館大学, 経営学部, 教授 (40411566)
• Project Period (FY): 2015-04-01 – 2018-03-31
• Project Status: Completed (Fiscal Year 2017)
• Budget Amount: ¥2,990,000 (Direct Cost: ¥2,300,000、Indirect Cost: ¥690,000); Fiscal Year 2017: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000); Fiscal Year 2016: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000); Fiscal Year 2015: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
• Keywords: ミクロ経済学 / 契約理論 / 銀行論 / 金融システム / 銀行規制 / 銀行間市場 / 銀行システム / 金融危機 / 金利政策 / アナウンスメント効果 / 自己資本比率規制 / 金融ショック

Outline of Final Research Achievements

A massive amount of liquidity provided by uninsured wholesale depositors makes modern banks more vulnerable to an exogenous financial shock. The purpose of this research is to explore the liquidity management of banks to protect the safety of uninsured deposits against the shock. The main result shows that an appropriately designed regulatory framework can resolve the conflict of interest between shareholder-centered banks and their depositors, by inducing the banks to maintain the safety of their deposits by reallocating liquidity through the interbank trading.

Research Products

• [Journal Article] Banks as a safe haven for depositors: Interest rates, banking regulations, and interbank market (2018)
  • Author(s): Mami Kobayashi
  • Journal Title: NBER Working paper series id 3132869 Volume: 3132869 Pages: 1-49
  • DOI: 10.2139/ssrn.3132869
  • Open Access
• [Journal Article] Policy interest rates, capital regulation, and banking system stability (2016)
  • Author(s): Mami Kobayashi
  • Journal Title: SSRN working paper series Volume: id 27365 Pages: 1-44
  • Open Access / Acknowledgement Compliant
• [Presentation] Banks as a safe haven for investors: interest rates, regulations, and interbank markets (2018)
  • Author(s): Mami Kobayashi
  • Organizer: International Finance and Banking Society
  • Int'l Joint Research / Invited
• [Presentation] Banks as a safe haven for investors: interest rates, regulations, and interbank markets (2017)
  • Author(s): Mami Kobayashi
  • Organizer: Contract Theory Workshop
• [Presentation] Policy interest rates, capital regulation, and banking system stability (2016)
  • Author(s): Mami Kobayashi
  • Organizer: World Finance & Banking Symposium
  • Place of Presentation: Dubai (UAE)
  • Year and Date: 2016-12-13
  • Int'l Joint Research
• [Presentation] Financial shock, interbank market rates, and banking system soudness (2016)
  • Author(s): Mami Kobayashi
  • Organizer: Finance and Banking Seminar
  • Place of Presentation: New York (USA)
  • Year and Date: 2016-10-12
  • Invited
• [Presentation] Policy interest rate, capital regulation, and the stability of the banking system (2015)
  • Author(s): Mami Kobayashi
  • Organizer: The 9th japan-Taiwan-Hong Kong Contract Theory Conference
  • Place of Presentation: 立命館大学朱雀キャンパス（京都府・京都市）
  • Year and Date: 2015-12-05
  • Int'l Joint Research / Invited
• [Remarks]
  • URL: https://sites.google.com/site/kobaya0107/
• [Remarks] kobayashimami
  • URL: https://sites.google.com/site/kobaya0107/