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Yasushi Iwamoto
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Yasushi Iwamoto: Graduate School of Economics, University of Tokyo

No CARF-J-114, CARF J-Series from Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo

Abstract: ¿··¿¥³¥í¥Ê¥¦¥¤¥ë¥¹´¶À÷¾É¤Î±Æ¶Á¡Ê¥³¥í¥Ê²Ò¡Ë¤ò·ÐºÑ³ØŪ¤ËŬÀڤ˷׬¤¹¤ë¡¢¤È¤¤¤¦´ÑÅÀ¤«¤é¡¢·ò¹¯¤È·ÐºÑ¤Î¥È¥ì¡¼¥É¥ª¥Õ¤ÎÉÁ¼Ì¡¢½¾Íè¤Î·ÐºÑ´íµ¡¤Ë¸«¤é¤ì¤Ê¤¤±Æ¶Á¤Î °Û¼ÁÀ­¤ÎŪ³Î¤ÊÇÄ°®¡¢´¶À÷¾ÉÂкö¤ËÍ­±×¤Ê¾ðÊó¤òÄ󶡤Ǥ­¤ë·×¬¤ÎŬ»þÀ­¡¢¤Î 3 ¤Ä¤Î²ÝÂê¤ò¸¡Æ¤¤¹¤ë¡£ ´¶À÷¾ÉÂкö¤Ë¤è¤Ã¤ÆºÇ¾®²½¤¹¤Ù¤­Èï³²¤Î¤Ê¤«¤Î¿ÍŪÈï³²¡Ê»àË´¼Ô¤Î²ßʾ²ÁÃͲ½¤µ¤ì¤¿¸üÀ¸Â»¼º¡Ë¤Ï»àË´¼Ô¤Î½êÆÀ¤è¤ê¤âÂ礭¤ÊÅý·×ŪÀ¸Ì¿²ÁÃͤÇɾ²Á¤¹¤ëɬÍפ¬¤¢¤ë¡£·ò ¹¯¤È·ÐºÑ¤Î¥È¥ì¡¼¥É¥ª¥Õ¤Î¤â¤È¤ÇÁªÂò¤µ¤ì¤¿Âкö¤Ç¤ÏÁýʬÈñÍѸú²ÌÈæ¡Ê¿ÍŪÈï³²¤ò·Ú¸º¤¹¤ë¤¿¤á¤ËɬÍפʷкÑŪÈï³²¡Ë¤Ç´¹»»¤·¤¿ÁíÈï³²¤¬ºÇ¾®²½¤µ¤ì¤Æ¤¤¤ë¤Î¤Ç¡¢Áýʬ ÈñÍѸú²ÌÈæ¤ÈÅý·×ŪÀ¸Ì¿²ÁÃͤ¬ÐªÎ¥¤·¤Æ¤¤¤ë¤«¤É¤¦¤«¡¢¤¬ÌäÂê¤È¤Ê¤ë¡£ ±Æ¶Á¤Î°Û¼ÁÀ­¤ÎÇÄ°®¤Ë¤Ï¡¢Ï«Æ¯¤ò¥¿¥¹¥¯¤ËºÙʬ²½¤·¡¢¡ÖÈóÀÜ¿¨¡¦ÀÜ¿¨¡×¤ËÂÐÈ椵¤»¤ë¤³¤È¤¬Í­ÍѤǤ¢¤ë¡£À¸»ºÀ­¤ÎÄ㤤´ë¶È¤äÀȼå¤ÊϫƯ¼Ô¤¬Â礭¤Ê±Æ¶Á¤ò¼õ¤±¤¿¤³¤È¤Ï ¡¢¡ÖÀÜ¿¨·¿¥¿¥¹¥¯¤ÏÀ¸»ºÀ­¤¬Ä㤤¡×¤È¤¤¤¦²¾Àâ¤Ë¤è¤Ã¤ÆÀâÌÀ¤¹¤ë¤³¤È¤¬¤Ç¤­¤ë¡£ ¿×®¤Ë·ÐºÑ¤Î¾õ¶·¤òÇÄ°®¤Ç¤­¤ë¥ª¥ë¥¿¥Ê¥Æ¥£¥Ö¥Ç¡¼¥¿¤Î³èÍѤ¬¿Þ¤é¤ì¤¿¤â¤Î¤Î¡¢À¯ºö¼Â»Ü¤ÎÅÀ¤«¤é¤â½ÅÍפʽêÆÀ¤Î¿×®ÇÄ°®¤Ë¤Ï¼Â̳¾å¤Î²ÝÂ꤬Â礭¤¤¡£¹ÔÀ¯µ­Ï¿¤Ç¤Î½ê ÆÀ¤Î¿×®ÇÄ°®¤òÌܻؤµ¤Ê¤¯¤Ê¤ì¤Ð¡¢·ÐºÑʬÀϤΤ¿¤á¤Î¥Ç¡¼¥¿À°È÷¤âÈó¾ï¤Ëº¤Æñ¤Ç¤¢¤ë¤È¹Í¤¨¤é¤ì¤ë¡£

Pages: 20 pages
Date: 2022-01
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Persistent link: https://EconPapers.repec.org/RePEc:cfi:jseres:cj114

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