| Budget Amount *help |
¥16,120,000 (Direct Cost: ¥12,400,000、Indirect Cost: ¥3,720,000)
Fiscal Year 2020: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2019: ¥3,510,000 (Direct Cost: ¥2,700,000、Indirect Cost: ¥810,000)
Fiscal Year 2018: ¥3,510,000 (Direct Cost: ¥2,700,000、Indirect Cost: ¥810,000)
Fiscal Year 2017: ¥3,250,000 (Direct Cost: ¥2,500,000、Indirect Cost: ¥750,000)
Fiscal Year 2016: ¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
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| Outline of Final Research Achievements |
In this study, we clarified what equilibria and prices subjects would choose by conducting economic experiments using random matching models with divisible money, where there is a continuum of stationary equilibria. More specifically, the experiment was conducted under the following different conditions and we analyzed the results: 1. changes in the basic setup (amounts of money and distributions of money holdings in the beginning), 2. changes in monetary policy (various patterns of money injection), and 3. various economic environments (other than random matching). We obtain several results. Among them, the important one is that the efficiency of monetary transactions is higher in the case of divisible money than in the case of indivisible money. Asymmetric properties are also obtained when the amount of money is increased or decreased.
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