2012 Fiscal Year Final Research Report
Asset Price Bubbles under Imperfect Financial Markets and PolicyResponses
| Project/Area Number |
23830017
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| Research Category |
Grant-in-Aid for Research Activity Start-up
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| Allocation Type | Single-year Grants |
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| Research Field |
Economic policy
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| Research Institution | The University of Tokyo |
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Principal Investigator |
AOKI Kosuke 東京大学, 大学院・経済学研究科, 准教授 (30263362)
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| Project Period (FY) |
2011 – 2012
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| Keywords | 資産バブル / 金融市場 / 金融機関 |
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| Research Abstract |
I constructed a dynamic general equilibrium model under credit frictions in which asset price bubbles can arise. The main feature of the model is that the banking sector is modeled explicitly. This analytical framework allows me to analyze which economic agents invest in bubbly assets.
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