| Budget Amount *help |
¥4,550,000 (Direct Cost: ¥3,500,000、Indirect Cost: ¥1,050,000)
Fiscal Year 2017: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2016: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2015: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
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| Outline of Final Research Achievements |
This theoretical research picks up the two kinds of eoconomic distortions, consumption externlaities and endogenous consumption taxes in the one-sector Ramsesy growth model. As we know, consumption externaltiies differ from endogenous consumption taxes. However, the two economic distortions have very similar, possibly the same impacts on economic dynamics to a steady state equilibrium.
We derive the following: 1) If we use the utility function initiated by King and Rebelo, the two economic distortions have quite the same effects on the economic growth path. 2) Consumption externalities lead to the emergence of indeterminacy even if the homothetic utility function with respect to consusmption and leisure is utilized. 3) The structual instability of the utility function initiated by King and rebelo is proved.
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