| Budget Amount *help |
¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000)
Fiscal Year 2010: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2009: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2008: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2007: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
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| Research Abstract |
Employing several models of international finance, in particular some two-country models with incomplete markets, we have constructed a case where bilateral flow of funds emerges between two countries to share country-specific shocks, including catastrophic ones. One of the most important implications from our theoretical investigation is that expanding external balance sheets by holding large-scale long and short positions would help to improve risk-sharing among countries. In addition to the above research, we have investigated how catastrophic shocks including natural disaster and health deterioration may be shared among domestic agents using both theoretical and empirical methods.
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