2022 年度研究成果報告書

Dynamics of Regulation of Strategically Complex Financial Products

研究課題

研究課題/領域番号	18K12817
研究種目	若手研究
配分区分	基金
審査区分	小区分07060:金融およびファイナンス関連
研究機関	武蔵大学
研究代表者	Franco Pedro 武蔵大学, 国際教養学部, 専任講師 (70791383)
研究期間 (年度)	2018-04-01 – 2023-03-31
キーワード	Financial Regulation / Financial Complexity / Optimal Contracts
研究成果の概要	This project furthered our understanding of the constraints that regulators face when regulating banks' use of complex financial products that have embedded moral hazard problems. In particular, it shows that financial crisis may be inevitable even under some optimal conditions.
自由記述の分野	Financial Macroeconomics
研究成果の学術的意義や社会的意義	This project highlights the difficulties that regulators face as banks/bankers are potentially not punished for taking risky bets. Even in the best case this project is able to explore, it may not be possible for regulators to stop crisis, only to forestall them for a period of time.