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市中銀行の利潤最大化と金融政策


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Title: 市中銀行の利潤最大化と金融政策
Other Titles: Profit Maximization, the Banking Firm and Monetary Policy
Authors: 深浦, 厚之
Authors (alternative): Fukaura, Atsuyuki
Issue Date: Sep-1989
Publisher: 長崎大学経済学会
Citation: 経営と経済, 69(2), pp.1-31; 1989
Abstract: In this article we investigate how the asset-liability management in the banking firm is adjusted to the change in monetary policy if the economy faces two sources of uncertainty. By extending the similar study in Landskroner-Ruthenberg (1985), which captured "price uncertainty" only, to the double uncertainty case with "return uncertainty", we can present a more general analytic scheme. In the environment assumed here, where the banking firm's portfolio spectrum has a realistic structure and its management is under the wider scope of discretion by the banking firm, there is the case when the effectiveness of monetary poliy is cancelled out by their profit maximization behavior. Our conclusion can be applied to the exisiting conditions of the drastic development of the far-reaching removal of financial restriction in Japan.
URI: http://hdl.handle.net/10069/28395
ISSN: 02869101
Type: Departmental Bulletin Paper
Text Version: publisher
Appears in Collections:Volume 69 No. 2

Citable URI : http://hdl.handle.net/10069/28395

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