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Asset Bubbles and Bailout
http://hdl.handle.net/2261/50595
http://hdl.handle.net/2261/50595d7d9b61e-b2b7-492a-8376-f3408a60934d
| Item type | テクニカルレポート / Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2013-05-31 | |||||
| タイトル | ||||||
| タイトル | Asset Bubbles and Bailout | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Stochastic Bubbles | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Anticipated Bailout | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Emergence of Asset Price Bubbles | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Bubbly Booms | |||||
| 資源タイプ | ||||||
| 資源 | http://purl.org/coar/resource_type/c_18gh | |||||
| タイプ | technical report | |||||
| アクセス権 | ||||||
| アクセス権 | metadata only access | |||||
| アクセス権URI | http://purl.org/coar/access_right/c_14cb | |||||
| 著者 |
Hirano, Tomohiro
× Hirano, Tomohiro× Yanagawa, Noriyuki |
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| 著者所属 | ||||||
| 著者所属 | Faculty of Economics, The University of Tokyo | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | This paper theoretically investigates the relationship between asset price bubbles and bailout. We show that although bailout may mitigate adverse effects of bubbles'bursting ex-post, it is more likely to cause asset price bubbles by encouraging risk-taking behavior ex-ante. In other words, bubbles are more likely to occur, the more government bailout is anticipated. Moreover, when productivity is relatively low, the anticipated bailout accelerates bubbly booms and creates large bubbles, which results in a large scale government intervention when bubbles collapse. This suggests that bailout policy that aims at stabilizing the economy during bubble bursts ends up with increasing boom-bust cycles. | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | 本文フィルはリンク先を参照のこと | |||||
| 書誌情報 |
Discussion paper series. CIRJE-F 巻 CIRJE-F-838, 発行日 2012-01 |
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| 書誌レコードID | ||||||
| 収録物識別子タイプ | NCID | |||||
| 収録物識別子 | AA11450569 | |||||
| フォーマット | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | application/pdf | |||||
| 日本十進分類法 | ||||||
| 主題Scheme | NDC | |||||
| 主題 | 335 | |||||
| 出版者 | ||||||
| 出版者 | 日本経済国際共同センター | |||||
| 出版者別名 | ||||||
| Center for International Research on the Japanese Economy | ||||||
| 関係URI | ||||||
| 識別子タイプ | URI | |||||
| 関連識別子 | http://www.cirje.e.u-tokyo.ac.jp/research/dp/2012/2012cf838ab.html | |||||
