2015 Fiscal Year Final Research Report
Theoretical and Experimental studies on Financial contagion due to Accounting system
| Project/Area Number |
26590026
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| Research Category |
Grant-in-Aid for Challenging Exploratory Research
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| Allocation Type | Multi-year Fund |
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| Research Field |
Economic theory
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| Research Institution | University of Tsukuba |
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Principal Investigator |
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| Project Period (FY) |
2014-04-01 – 2016-03-31
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| Keywords | 時価会計制度 / 金融危機 / 流動性 / バブル / 資産市場 / 実験経済学 |
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| Outline of Final Research Achievements |
In this study, I have both theoretical and experimental studies on mark-to-market accounting systems. In the theoretical work, I show that the system encourages financial contagion, and that banks will go bankrupt even when the banks prepare the liquidity crises.
In the experimental work, we have experiments to study how subjects recognize the public information of accounting. The, we have the following results: (1) the subjects who have more information do not necessarily obtain the higher rewards, and (2) When the subjects obtains the higher rewards, they have the better strategy due to the information advantage.
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| Free Research Field |
理論経済学・実験経済学・金融理論
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