@article{oai:sucra.repo.nii.ac.jp:00019667,
 author = {平山, 賢一},
 journal = {社会科学論集, SHAKAIKAGAKU－RONSHU (The Social Science Review)},
 month = {Jun},
 note = {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., text, application/pdf},
 pages = {31--57},
 title = {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》},
 volume = {167},
 year = {2022},
 yomi = {ヒラヤマ, ケンイチ}
}