神戸大学金融研究会（RIEBセミナー共催） Monetary Economics Seminar of Kobe University (Jointly supported by RIEB Seminar)
| 日時 (Date&Time) |
2013年12月21日（土）午後2時00分から (Saturday, December 21, 2013, 2:00pm-) |
|---|---|
| 会場 (Place) |
神戸大学経済経営研究所 会議室（研究所新館2階） Meeting Room at RIEB (Annex, 2nd Floor) |
| 対象 (Intended Audience) |
基本的に会員制の研究会ですが、非会員で関心のある方の参加も歓迎します。 The seminar is primarily for the workshop members. But non-members are also welcome to attend. |
| 備考 (Note) |
論文のコピーは共同研究推進室にてご用意いたします。 Copies of the paper will be available at the Office of Promoting Research Collaboration. セミナー後にレセプションを予定しております。セミナーへ参加を希望される方はお手数ですが、レセプションへのご出欠と併せご氏名、ご所属、ご連絡先（メールアドレス）を開催日の1週間前までに共同研究推進室へご連絡下さい。なお、レセプションの詳細については追ってご連絡いたします。 There will be a reception held after the seminar. If you would like to attend this seminar, please email us at Office of Promoting Research Collaboration your name, affiliation, email address and whether you will attend the reception or not, by a week before the workshop. Details will be notified later. |
2:00pm～
| 報告者 (Speaker) |
青木 浩介 氏 (Kosuke AOKI) |
|---|---|
| 所属 (Affiliation) |
東京大学 (The University of Tokyo) |
| 論題 (Topic) |
Safe Asset Shortages and Asset Price Bubbles |
3:50pm～
| 報告者 (Speaker) |
藤木 裕 氏 (Hiroshi FUJIKI) |
|---|---|
| 所属 (Affiliation) |
日本銀行金融研究所 (Institute for Monetary and Economic Studies, Bank of Japan) |
| 論題 (Topic) |
Institutional Designs to Alleviate Liquidity Shortages in a Two-Country Model |
| 概要 (Abstract) |
Fujiki (2003, 2006) extended the Freeman (1996) model to a two-country model, demonstrating that elastic money supplies in foreign exchange markets and the domestic credit market yield efficiency gains in monetary equilibrium, and that several institutional designs equally achieve the desired elastic money supplies. The present paper considers four institutional designs using a model similar to Fujiki (2003): a combination of central bank discount window policy and the CLS Bank; a central bank intervention both in the domestic credit market and the foreign exchange market; cross-border collateral arrangements; and foreign currency liquidity swap lines. These institutional designs yield the same efficiency gains in our model. |