Kengo Nutahara Senshu University; and The Canon Institute for Global Studies (CIGS)   2-1-1 Higashimita, Tama-ku Kawasaki, Kanagawa 2148580 United Kingdom   nutti@isc.senshu-u.ac.jp             JEL Areas: D5 : General Equilibrium and Disequilibrium: General E5 : Monetary Policy, Central Banking, and the Supply of Money and Credit: General