Analysis of dynamic trade models with non-homothetic preferences or endogenous time preferences(Fostering Joint International Research)
| Project/Area Number |
15KK0122
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| Research Category |
Fund for the Promotion of Joint International Research (Fostering Joint International Research)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Economic policy
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| Research Institution | Kobe University |
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Principal Investigator |
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| Research Collaborator |
Soger Gerhard University of Vienna, Graduate School of Economics, Professor
Foellmi Reto University of St. Gallen, SIAW, Professor
Ikeda Shinsuke
Kamihigashi Takashi
Nishimura Kazuo
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| Project Period (FY) |
2016 – 2018
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| Project Status |
Completed (Fiscal Year 2018)
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| Budget Amount *help |
¥10,270,000 (Direct Cost: ¥7,900,000、Indirect Cost: ¥2,370,000)
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| Keywords | 非相似拡大的選好 / 劣等財 / 所得格差 / 動学的貿易モデル / 内生的時間選好 |
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| Outline of Final Research Achievements |
In standard models where households choose their consumption levels and their labor supply at each period of time, we clarify the economic implication of the necessary condition for the existence of periodic optimal solutions or chaos.
We show that with non-homothetic preferences, the distribution of income affects the demand for each of the factors of production, and hence it affects not only the speed of convergence to the steady state, but also the total wealth in the long run. Also, we find that the capital intensity ranking of luxury and necessity decides the relationship between income inequality and the economic growth.
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| Academic Significance and Societal Importance of the Research Achievements |
標準的な一部門成長モデルにおいて、周期解、あるいはカオスが発生する場合には、余暇が周期解の間の領域、もしくは周期解において、劣等財となっていることを示した。このような大域的な条件を、図を用いた分析を行うことで明らかにすることができた。
所得格差と経済成長の関係を考察するには、奢侈品と必需品の資本集約度が重要であることを示し、必需品が資本集約的な場合には、所得格差の拡大は経済成長にとって負の影響があることを明らかにした。
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Report
(4 results)
Research Products
(5 results)
