Optimal Policy Analysis under Incomplete Financial Market
Project/Area Number |
26780153
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Research Category |
Grant-in-Aid for Young Scientists (B)
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Allocation Type | Multi-year Fund |
Research Field |
Economic policy
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Research Institution | Keio University |
Principal Investigator |
TERANISHI Yuki 慶應義塾大学, 商学部(三田), 准教授 (50710456)
|
Project Period (FY) |
2014-04-01 – 2017-03-31
|
Project Status |
Completed (Fiscal Year 2016)
|
Budget Amount *help |
¥2,600,000 (Direct Cost: ¥2,000,000、Indirect Cost: ¥600,000)
Fiscal Year 2016: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2015: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2014: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
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Keywords | Incomplete market / search and matching / optimal policy / 最適金融政策 / 不完全市場 / 最適政策 / ローン市場 / 金融政策 / マクロプルーデンス政策 / サーチ理論 / 不完な金融市場 |
Outline of Final Research Achievements |
Research outcomes are in three papers, “Optimal Macroprudential Policy”, “Optimal Policy Analysis in a New Keynesian Economy with Credit Market Search” , and “Financial Frictions and Policy Cooperation: A Case with Monopolistic Banking and Staggered Loan Contracts.” These papers show that optimal policy requires procyclicality between real economic activity and financial activity under a theoretical model with an incomplete financial market by a search and matching mechanism.
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Report
(4 results)
Research Products
(2 results)