@article{oai:nagoya.repo.nii.ac.jp:00028611,
 author = {SATO, Yoshiaki},
 issue = {1-2},
 journal = {経済科学},
 month = {Sep},
 note = {We evaluate stabilizing effects of heightened and time-varying minimum capital requirements on the financial sector and the economy. Under the current Basel regulations with time-varying capital requirements, when financial intermediaries incur losses on capital, they can release extra capital accumulated in advance during normal times. As a result, they do not need to contract credit supply in order to keep their capital ratios high enough during bad times. Our simulation results show that a taxing scheme, which works as capital distribution constraints on intermediaries, significantly enhances stabilizing effects of time-varying minimum capital requirements. This evidence partly provides support for the current Basel III counter-cyclical capital buffer regulations.},
 pages = {31--49},
 title = {Time-varying Bank Capital Requirements with Capital Distribution Constraints : A DSGE Approach},
 volume = {67},
 year = {2019}
}