| Budget Amount *help |
¥3,900,000 (Direct Cost: ¥3,000,000、Indirect Cost: ¥900,000)
Fiscal Year 2017: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2015: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
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| Outline of Final Research Achievements |
I published a paper about a theoretical foundation of asset price bubbles in a Top Journal. Also I extended the basic model to include business cycles so that I analyzed the effects of government bailouts after the collapse of bubbles on economic welfare, and derived optimal bailout policy. Recently I have been working on an optimal leaning against the wind policy against asset bubbles. My analyses have shown that under what conditions government policy against bubbles can be desirable from a welfare perspective, and under what conditions it can be harmful.
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