RIEBセミナー RIEB Seminar
| 日時 (Date&Time) |
2010年9月24日（金）午前11時から (Friday, September 24, 2010, 11:00am～） |
|---|---|
| 報告者 (Speaker) |
Uwe Friedrich VOLLMER |
| 所属 (Affiliation) |
ライプツィッヒ大学経済学部（Economics Department, University of Leipzig） |
| 論題 (Topic) |
A Lender of Last Resort for Public Banks? Theory and an Application to Japan Post Bank |
| 概要 (Abstract) |
The paper analyzes different regulatory arrangements for public banks in a liquidity crisis.Our theoretical analysis focuses on two aspects. First, we investigate the incentives of a public bank's owner to provide fresh capital when a liquidity crisis has occurred. We find that under discretion, recapitalization decisions will not be socially optimal (i) if the owner places a different weight on social bank failure costs than society does or (ii) if deposits are guaranteed by a deposit insurer. In both cases, however, an optimal recapitalization rule exists that aligns the bank owner's preferences with social preferences by either subsidizing (in case of too small capital injections) or taxing (in case of too large capital injections) recapitalization. Second, we discuss the implications of adding a LLR - the central bank or the deposit insurer - to the discretionary case and derive conditions under which a LLR enhances social welfare. |
| 会場 (Place) |
神戸大学経済経営研究所 調査室（兼松記念館1階） Seminar Room at RIEB (Kanematsu Memorial Hall 1st Floor) |
| 対象 (Intended Audience) |
教員，院生，学部生，および同等の知識をお持ちの方 Faculty, Graduate Students, Undergraduates, and People with Equivalent Knowledge |
| 使用言語 (Language) |
英語 English |
| 備考 (Note) |
論文のコピーは共同研究推進室にご用意しております。 Copies of the paper are available at Office of Promoting Research Collaboration. |