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Macroeconomic analysis of agency costs in financial intermediation under informational asymmetry

Research Project

Project/Area Number 22730251
Research Category

Grant-in-Aid for Young Scientists (B)

Allocation TypeSingle-year Grants
Research Field Public finance/Monetary economics
Research InstitutionHitotsubashi University

Principal Investigator

NAKAMURA Hisashi  一橋大学, 大学院・商学研究科, 准教授 (80418649)

Project Period (FY) 2010 – 2011
Project Status Completed (Fiscal Year 2011)
Budget Amount *help
¥4,030,000 (Direct Cost: ¥3,100,000、Indirect Cost: ¥930,000)
Fiscal Year 2011: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2010: ¥2,340,000 (Direct Cost: ¥1,800,000、Indirect Cost: ¥540,000)
Keywordsエージェンシーコスト / 金融仲介 / 信用リスク / 連続時間確率解析
Research Abstract

This research looks at the agency problem in financial intermediation under informational asymmetry. It provides a theoretical and numerical framework to analyze the effect of the problem on macroeconomic dynamics of business cycles and asset prices, interest rates by using dynamic macroeconomic general equilibrium models. Using this framework, I draw policy implications of macro-prudence policy conducting.

Report

(3 results)
  • 2011 Annual Research Report   Final Research Report ( PDF )
  • 2010 Annual Research Report
  • Research Products

    (18 results)

All 2012 2011 2010 Other

All Journal Article (4 results) (of which Peer Reviewed: 2 results) Presentation (12 results) Remarks (2 results)

  • [Journal Article] 証券化型金融のもとでの金融システムの安定について:コンティンジェント転換証券と保険の役割2012

    • Author(s)
      中村恒
    • Journal Title

      財団法人ゆうちょ財団の季刊機関誌『個人金融』2012春号

    • NAID

      40019261117

    • Related Report
      2011 Final Research Report
  • [Journal Article] A Continuous-Time Analysis of Optimal Restructuring of Contracts with Costly Information Disclosure2012

    • Author(s)
      Hisashi Nakamura
    • Journal Title

      Asia-Pacific Financial Markets

      Volume: vol.19 Issue: 2 Pages: 119-147

    • DOI

      10.1007/s10690-011-9144-6

    • Related Report
      2011 Annual Research Report 2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] 証券化型金融のもとでの金融システムの安定について:コンティンジェント転換証券と保険の役割2012

    • Author(s)
      中村恒
    • Journal Title

      財団法人ゆうちょ財団季刊機関誌『個人金融』

      Volume: 春号(近刊)(掲載決定)

    • NAID

      40019261117

    • Related Report
      2011 Annual Research Report
  • [Journal Article] Continuous-Time Analysis of Optimal Restructuring of Contracts with Costly Information Disclosure2012

    • Author(s)
      Hisashi Nakamura
    • Journal Title

      Asia-Pacific Financial Markets

      Volume: (掲載決定)

    • Related Report
      2010 Annual Research Report
    • Peer Reviewed
  • [Presentation] 証券化型金融のもとでの金融システムの安定について:コンティンジェント転換証券と保険の役割2012

    • Author(s)
      中村恒
    • Organizer
      損保ジャパン研究会
    • Place of Presentation
      損保ジャパンビル・新宿
    • Year and Date
      2012-02-21
    • Related Report
      2011 Final Research Report
  • [Presentation] 証券化型金融のもとでの金融システムの安定について:コンティンジェント転換証券と保険の役割2012

    • Author(s)
      中村恒
    • Organizer
      損保ジャパン研究会
    • Place of Presentation
      損保ジャパンビル,新宿
    • Year and Date
      2012-02-21
    • Related Report
      2011 Annual Research Report
  • [Presentation] A Continuous-Time Optimal Insurance Design with Costly Information2011

    • Author(s)
      Hisashi Nakamura
    • Organizer
      Yonsei University Economics workshop
    • Place of Presentation
      Yonsei University, Seoul
    • Year and Date
      2011-12-07
    • Related Report
      2011 Final Research Report
  • [Presentation] A Continuous-Time Optimal Insurance Design with Costly Information2011

    • Author(s)
      中村恒
    • Organizer
      Yonsei University, Economics workshop
    • Place of Presentation
      韓国ソウル,Yonsei University, Department of Economics(招待講演)
    • Year and Date
      2011-12-07
    • Related Report
      2011 Annual Research Report
  • [Presentation] A Continuous-Time Optimal Insurance Design with Costly Information2011

    • Author(s)
      Hisashi Nakamura
    • Organizer
      大阪大学中之島コンファレンス
    • Place of Presentation
      大阪大学・中之島センター
    • Year and Date
      2011-12-03
    • Related Report
      2011 Final Research Report
  • [Presentation] A Continuous-Time Optimal Insurance Design with Costly Information2011

    • Author(s)
      中村恒
    • Organizer
      大阪大学中之島コンファレンス
    • Place of Presentation
      大阪大学,中之島センター(招待講演)
    • Year and Date
      2011-12-03
    • Related Report
      2011 Annual Research Report
  • [Presentation] A Continuous-Time Optimal Insurance Design with Costly Information2011

    • Author(s)
      Hisashi Nakamura
    • Organizer
      日本リスク保険年金学会年次総会
    • Place of Presentation
      明治大学(御茶ノ水)
    • Year and Date
      2011-11-05
    • Related Report
      2011 Final Research Report
  • [Presentation] A Continuous-Time Optimal Insurance Design with Costly Information2011

    • Author(s)
      中村恒
    • Organizer
      日本リスク保険年金学会
    • Place of Presentation
      明治大学,御茶ノ水
    • Year and Date
      2011-11-05
    • Related Report
      2011 Annual Research Report
  • [Presentation] A Continuous-Time Analysis of Optimal Restructuring of Contracts with Costly Information Disclosure : Asset Pricing Implications2010

    • Author(s)
      Hisashi Nakamura
    • Organizer
      第10回Econometric Society World Congress
    • Place of Presentation
      上海
    • Year and Date
      2010-08-17
    • Related Report
      2011 Final Research Report
  • [Presentation] A Continuous-Time Analysis of Optimal Restructuring of Contracts with Costly Information Disclosure : Asset Pricing Implications2010

    • Author(s)
      中村恒
    • Organizer
      第10回Econometric Society World Congress
    • Place of Presentation
      中国・上海
    • Year and Date
      2010-08-17
    • Related Report
      2010 Annual Research Report
  • [Presentation] A Continuous-Time Analysis of Optimal Restructuring of Contracts with Costly Information Disclosure : Asset Pricing Implications2010

    • Author(s)
      Hisashi Nakamura
    • Organizer
      Disclosure : Asset Pricing Implications,"Society for the Advancement of Economic Theory(SAET) Conference on Current Trends in Economics
    • Place of Presentation
      シンガポール
    • Year and Date
      2010-08-13
    • Related Report
      2011 Final Research Report
  • [Presentation] A Continuous-Time Analysis of Optimal Restnicturing of Contracts with Costly Information Disclosure : Asset Pricing Implications2010

    • Author(s)
      中村恒
    • Organizer
      Society for the Advancement of Economic Theory (SAET) Conference on Current Trends in Economics
    • Place of Presentation
      シンガポール
    • Year and Date
      2010-08-13
    • Related Report
      2010 Annual Research Report
  • [Remarks] 中村恒、日本金融学会2012年度春季大会、中央銀行パネル「マクロプルーデンスと中央銀行-マクロプルーデンスの考え方、政策への取り組み、課題と展望を中心に」、パネラーとして招聘、2012年5月19日、立正大学

    • Related Report
      2011 Final Research Report
  • [Remarks] 中村恒、全国銀行協会金融調査研究会シンポジウム「安定的な経済成長のためのプルーデンス政策のあり方を考える」~金融規制改革パッケージの検証と今後の展望、パネラーとして招聘、2010年12月17日、銀行会館5階講堂(東京)

    • Related Report
      2011 Final Research Report

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Published: 2010-08-23   Modified: 2016-04-21  

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