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タイトル
  • ja 日本銀行と株式市場についての一考察 : 担保品付手形割引制度発足時の株価と担保価格《特別寄稿》
その他のタイトル
  • en The BoJ's Bill Discount by Adding Company Stocks to Eligible Collaterals and the Stock Market
作成者
    • ja 平山, 賢一 ja-Kana ヒラヤマ, ケンイチ
内容注記
  • Other en Collateralized bill discounting, which was initiated by the Bank of Japan in 1890, is examined in this paper in relation to the stock market. The Bank of Japan's involvement in the stock market, shortly after its establishment, can be partly explained by showing the background of monetary easing using shares of railway companies as collateral. Specifically, from the relationship between daily stock prices and collateral valuation prices at the time of the Panic of 1890, we identified cases in which collateral valuation prices were raised despite falling stock prices, and we found that the Bank of Japan at that time was closely related to the stock market. By discussing the historical context of the stock market with the Bank of Japan we hope to draw some implications for the current index-linked exchange-traded fund purchase policy for stock indexes.
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出版者 ja 埼玉大学経済学会 en The Economics Society of Saitama University
日付
    Issued2022-06 , Created2022-07-29
言語
  • eng
  • jpn
資源タイプ departmental bulletin paper
出版タイプ VoR
資源識別子 DOI https://doi.org/10.24561/00019636 , URI https://sucra.repo.nii.ac.jp/records/19667
ID
  • JaLC 10.24561/00019636
収録誌情報
    • PISSN 05597056
    • NCID AN00109186
      • ja 社会科学論集 en SHAKAIKAGAKU－RONSHU (The Social Science Review)
      • 巻167 開始ページ31 終了ページ57
ファイル
コンテンツ更新日時 2023-09-16