Financial Destabilization

• 資料種別: 文書・図像類
• タイトル: Financial Destabilization
• 著者・編者: Hashimoto, Ken-ichi; Im, Ryonghun; Kunieda, Takuma; Shibata, Akihisa
• 著者標目: Hashimoto, Ken-ichi; https://nrid.nii.ac.jp/nrid/1000070403219; Im, Ryonghun; Kunieda, Takuma; https://nrid.nii.ac.jp/nrid/1000060511516; Shibata, Akihisa; https://nrid.nii.ac.jp/nrid/1000000216003
• 出版事項: The Institute of Social and Economic Research, Osaka University
• 出版年月日等: 2021-02
• 出版年（W3CDTF）: 2021-02
• タイトル（掲載誌）: Institute of Social and Economic Research Discussion Papers
• 巻号年月日等（掲載誌）: 1118
• 掲載巻: 1118
• 掲載ページ: 1-30
• ISSN（掲載誌）: PISSN : 0473453X; EISSN : 24350982
• 本文の言語コード: eng
• 件名標目: Financial innovations; endogenous business cycles; financial destabilization; heterogeneous agents
• 対象利用者: 一般
• 一般注記: This paper uses a dynamic general equilibrium model to examine whether financial innovations destabilize an economy. Applying a neoclassical production function, we demonstrate that as financial frictions are mitigated, the economy loses stability and a ip bifurcation occurs at a certain level of financial frictions under an empirically plausible elasticity of substitution between capital and labor. Furthermore, the amplitude of uctuations increases as financial frictions are mitigated and is maximized when the financial market approaches perfection. These outcomes imply that financial innovations are likely to destabilize an economy.
• 参照（URI）: https://www.iser.osaka-u.ac.jp/library/dp/2021/DP1118.pdf; URI
• 連携機関・データベース: 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）; https://irdb.nii.ac.jp
• 提供元機関・データベース: 大阪大学 : 大阪大学学術情報庫 桜華