| Budget Amount *help |
¥5,200,000 (Direct Cost: ¥4,000,000、Indirect Cost: ¥1,200,000)
Fiscal Year 2014: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Fiscal Year 2013: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2012: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
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| Outline of Final Research Achievements |
We developed a validation system of financial market regulations based on an artificial market simulation system. We found the following fact using our proposal validation system. A price variation limit was the most effective for the stabilization of the market in major regulations such as a short-selling regulation, a leverage regulation, a price variation limit, and up-tick rule, when a market price plunged.
Next, we developed a validation system that was able to check compound market regulations, for example, the regulation combined a short-selling regulation with a price variation limit. We investigated whether some compound market regulations contributed to the market stablity or not. As a result, we found any compound regulations did not contribute to the market stablity compared to the a price variation limit.
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