Deposit Insurance, Regulatory Forbearance and Economic Growth: Implications for the Japanese Banking Crisis
Deposit Insurance, Regulatory Forbearance and Economic Growth: Implications for the Japanese Banking Crisis
复制标题
存款保险、监管宽容和经济增长：对日本银行业危机的影响
DOI：
10.24148/wp2004-26
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发表时间：
2004
期刊：
影响因子：
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通讯作者：
Kenneth M. Kletzer
中科院分区：
文献类型：
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作者：
R. Dekle;Kenneth M. Kletzer
一个金融中介的内生增长模型被用来说明公共存款保险和薄弱的审慎监管如何导致银行危机和经济增长的永久性下降。在模型中，我们推导出了在完全预见下，管制宽容对投资、储蓄和资产价格动态的影响。理论模型的假设是基于日本金融体系及其监管的基本特征。该模型展示了银行业和增长危机如何在完美的预见下演变。模型预测的经济总量和资产价格的动态与20世纪90年代日本经济和金融体系的经验基本一致。我们还使用日本20世纪80年代和90年代的资产价格数据来检验我们所维持的理性预期假设。我们的分析意味着，推迟解决银行危机会对未来的经济增长产生不利影响。
An endogenous growth model with financial intermediation is used to show how public deposit insurance and weak prudential regulation can lead to banking crises and permanent declines in economic growth. The impact of regulatory forbearance on investment, saving and asset price dynamics under perfect foresight are derived in the model. The assumptions of the theoretical model are based on essential features of the Japanese financial system and its regulation. The model demonstrates how banking and growth crises can evolve under perfect foresight. The dynamics for economic aggregates and asset prices predicted by the model are shown to be generally consistent with the experience of the Japanese economy and financial system through the 1990s. We also test our maintained hypothesis of rational expectations using asset price data for Japan over the 1980s and 1990s. An implication of our analysis is that delaying the resolution of banking crises adversely affects future economic growth.
伊藤隆俊——我的研究
DOI：
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发表时间：
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通缩日本的汇率传导：日元贬值对抗通货紧缩效果如何？
DOI：
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发表时间：
2006
期刊：
Japan's Great Stagnation : Financial and Monetary Policy Lessons for Advanced Economies MIT Press
影响因子：
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作者：
CHINO;Tetsuro;Eiji Fujii
通讯作者：
Eiji Fujii