Research

Risk Management of Insurance Companies and Regulation

It is commonly recognized that it is necessary for each economic subject to be able to operate freely and manage its own risks appropriately with the principal of self-responsibility as the foundation of market competition; based on this; I analyze comprehensive studies of insurance markets in view of ''efficiency'' and ''soundness (risk management)''. Furthermore, I investigate a method of regulation that it is necessary as the supervising authority.

Yoko Shirasu (Research Fellow)

Evaluation of the Results of Financial System Reform

We look at the current situation and the effects of financial system reform, so called ''Japanese version of the Big Bang'', which started in 1997, in light of its achievements and problems with its initial purpose, such as diversification of investment outlets, maintenance of market infrastructure, and enhancement of securities mediation services.

Takao Iijima (Research Fellow)

Analysis of Monetary Policy, Portfolio Theory, and Bank Lending Using Time Varying Autoregressive Models

Recent years, the liberalization of financial services and information technologies are affecting financial services and financial risks. To analyze the changing services and risks, non-linear non-Gaussian modelsand time varying autoregressive models are adopted by several researchers. In our research, we analyze financial markets and bank lending using non-linear non-Gaussian models and time varying autoregressive models. Furthermore, we analyze bank lending based on dynamic general equilibrium approaches and empirical approaches

Koichi Yano (Research Fellow)

Comparative Study of Financial Law and Regulation

The globalisation of activities and conglomeration of financial institutions has made it essential for financial institutions and financial regulators alike to understand other financial and capital markets. The development of financial law and regulation in various countries will be examined to grasp why a certain regime might be appropriate for a certain country and how international standards influence this process. Efficiency and competition of financial systems will be studied in the context of law and economics to construe what direction regulatory systems are advancing towards and what theoretical implications this might have.

Mamiko Yokoi-Arai (Research Fellow)

Risk Analysis by Application of Financial Engineering

Measuring methodologies of various types of risk using financial theories are evolving from the aspects of both research and practical techniques. To deal with such a situation, we researched this area, focusing on the measuring techniques of market risk and credit risk.

Satoshi Yamashita (Special Research Fellow)

Akihiko Takahashi (Special Research Fellow)

Research on the Regulation of Trust Business

We have been engaging in research especially on the regulation of trust business and our research results are forwarded to the Financial System Council, contributing to the discussion toward regulatory reform. We also study other related areas, such as private trust law and regulation of financial services in general.

Yoshikazu Yamashita (Special Research Fellow)

Hatsuru Morita (Special Research Fellow)

Studies on Life Insurance Companies in Japan: Theory and Practice

The aim of my research is to provide a comprehensive analysis of life insurance companies in Japan looking at business, economic, political, and sociological aspects

Tomoka Miyachi (Special Research Fellow)

Future Developments of Japanese Corporate Accounting Standards and Disclosure Requirements

It is commonly understood that Japanese accounting standards and disclosure requirements have been significantly improved to be in conformity with international developments; based on this, we need to share common understanding for future developments in these fields. Therefore, I will hold a study session to discuss future accounting standards and disclosure requirements, specifically focusing on mutual relationship among the commercial code, tax law, and accounting standards.

Matahiro Daisai (Special Research Fellow)

Comprehensive Study and Comparison of Financial Services Systems in Foreign Countries and Related Study

Administrative regimes and surroundings of financial systems change rapidly not only in Japan but also overseas. Therefore, we researched financial regimes especially those in the US, the UK, Germany and France in cooperation with the Research Office.

In this way we comprehensively studied and compared financial systems in foreign countries. Not only monetary but also technical and organizational views are needed to understand how real financial systems work.

We also conducted interdisciplinary studies (law and economics, politics, history and culture, human behavior, etc.).

Nobuo Yamamura (Special Research Fellow)

Studies on Legal Framework for electronic payment and securities settlement systems

It is essential to consider especially the balance between security and efficiency of settlement, in analyzing the laws related to electronic payment and securities settlement systems. From this standpoint, I have been engaged in research on several issues with regard to clearing and settlement, such as ''finality'' and ''book-entry'', with some reference to US Uniform Commercial Code, EU Directives and discussion papers issued by the BIS. Moreover, my research may cover some issues on electronic financial transactions.

Takuya Shima (Special Research Fellow)