| Budget Amount *help |
¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2017: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2016: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2015: ¥2,080,000 (Direct Cost: ¥1,600,000、Indirect Cost: ¥480,000)
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| Outline of Final Research Achievements |
This study analyze trade costs, which are the major impediments to efficient inter national and regional transactions. We confirm the estimation biases when using price data to identify the size of trade costs. In particular, with regard to pricing to market, the magnitude of trade costs is under-estimated without controlling for pricing-to-market behavior.
We also examine the relationship between trade costs and the fluctuation of transaction volume. We estimate the effect of trade costs on quantity traded by using gravity model. Our empirical analysis reveals that gravity model performs well even when using largely volatile daily transaction data. We also show the incident of trade costs: how much supply or demand side pay the burden of trade costs.
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