Until now, global games have been applied in the analysis of currency and banking crises, but as far as I know, it has not been used in the research of bubble bursts.
Analysis of long-term economic slumps after financial crises, theoretical analysis of non-performing loans, monetary theories and banking crises, tail risks in fiscal crises and economic growth, etc.
Structural Problems and Risk with the EU and the Euro Shirai: In recent years, there have been worrisome developments such as the banking crisis in Italy and the fiscal crisis in Greece.
Furthermore, by analyzing the case where bad loans accumulate in the banking sector and introducing currency, we will attempt to link bank crises with price fluctuations.
BREXIT, Italy's teetering banks, Asian and European credit challenges and a volatile market structure are all signs banks need to improve credit portfolio management or they will be back in the soup.
During the past three years of my term as Governor of the Bank of Japan, Chairman Greenspan of the Federal Reserve and other eminent people in the international circles have said to me that from the S&L problem and banking crises in the United States, they had learned a lesson about the importance of removing non-performing assets off the balance sheet of the banks.
In addition, around the period of the banking crisis starting in the mid-1990s, credit volume plummeted because of the damaged balance sheets of firms and banks(Figure 3(2)), indicating that malfunctions in financial intermediation may have also depressed the natural rate by reducing these agents' demand for funds.
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