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18 , 2003, 20%, (2006), 5,,,,,, , GDP, , 6 10%,, 5 8%,, 18

19 IV:,, , 24% 224% Hoggarth et al(2002) ,, 3 60, 50, 112, 112, 112,, GDP 92, 16 Hoggarth et al(2002),, , OECD International Financial statistics Hoggarth et al(2002) , 1992, Hoggarth et al(2002) GDP GDP 61, GDP,, 162,

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21 ,, , 1993, (2005), (2005) (2003), (2002) (2005) (2006) (2002) (2002), ) Recapitalization, moral hazard behavior and commitment to bailing out the insolvent banks ( 1996 ) 21

22 (2003), 9 (2003) A (2005), (2000),? ( ) Berger, AN, SM Davies, and MJ Flannery, (2000), "Comparing market and supervisory assessments of bank performance: who knows what when?, Journal of Money, Credit, and Banking 32(3), Brewer, Elijah III, Hesna Genay, William Curt Hunter, and George G Kaufman, (2003), Does the Japanese Stock Market Price Bank-Risk? Evidence from Financial Firm Failures, Journal of Money, Credit, and Banking 35(4), Caballero, Ricardo J, Takeo Hoshi, and Anil K Kashyap, (2003) Zombie Lending and Depressed Restructuring in Japan, presented at the NBER/CEPR/CIRJE/EIJS Japan Project Meeting held in Tokyo Dewatripont, M, and J Tirole, (1994), The Prudential Regulation of Banks, the MIT press Diamond, D W and P H Dybvig (1983), Bank runs, deposit insurance and liquidity, Journal of Political Economy: Fukuda, Shin-ichi and S Koibuchi, (2006), The impact of shock therapy under a banking crisis: experience from three large bank failures in Japan, Japanese Economic Review 57, p Freixas, X, and J-C Rochet (1997), Microeconomics of Banking, The MIT Press Hanazaki, M, and A Horiuchi, (2003), A review of Japan s bank crisis from the governance perceptive, Pacific-Basin Finance Journal 11, Hoggarth, G, R Reis, and V Saporta, (2002), Cost of banking system instability: some empirical evidence, Journal of Banking & Finance 26: Konishi and Yasuda (2004), Factors affecting bank risk taking: evidence from Japan, Journal of Banking and Finance 28, Horiuchi, Akiyoshi, and Katsutoshi Shimizu, (1998) The Deterioration of Bank Balance Sheets in Japan: Risk-Taking and Recapitalization, Pacific-Basin Finance Journal 6,

23 Hosono, K, (2004), Depositors discipline during the banking crisis in Japan? Discussion papers series 04-1, Gakusyuin University Hosono, K, and M Sakuragawa (2002), Bad loans and accounting discretion, Ito, Takatoshi, and Yuri Nagataki Sasaki (2002), Impacts of the Basel Capital Standard on Japanese Banks Behavior, Journal of the Japanese and International Economics 16, Montgomery, H, The effect of the Basel Accord on bank portfolio in Japan, Journal of the Japanese and International Economics 19, (2005), Murata, K, and MHori, (2006), Do small depositors exit from bad banks? evidence from small financial institutions in Japan? Japanese Economic Review 57, p Shrieves, Ronald E, and Drew Dahl, (2003), Discretionary Accounting and the Behavior of Japanese Banks under Financial Duress, Journal of Banking and Finance 27, Skinner, Douglas J, (2005), The Rise of Deferred Tax assets in Japan, The Case of the Major Japanese Banks Spiegel, MM, and Y, Nobuyoshi, (2003), The impact of Japan s financial stabilization laws on bank equity values, Journal of the Japanese and International Economics 17,

デフレ不況下の金融政策をめぐる政治過程

デフレ不況下の金融政策をめぐる政治過程 1991 2003 GDP....................................... http://www.stat.go.jp/ http://www.boj.or.jp/ GDP http://www.esri.cao.go.jp/ GDP - - - inflation targeting Krugman a IS-LM liquidity trap Krugman b Krugman