| Budget Amount *help |
¥3,200,000 (Direct Cost: ¥3,200,000)
Fiscal Year 2006: ¥1,500,000 (Direct Cost: ¥1,500,000)
Fiscal Year 2005: ¥1,700,000 (Direct Cost: ¥1,700,000)
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| Research Abstract |
This research is to enhance the system dynamics modeling of macroeconomic system which I have engaged for the last four years. There exist quite a few macroeconomic models based on econometric method. Yet to the best of my knowledge no complete macroeconomic model based on system dynamics method has been built. In this sense, this research is original and worth challenging because only the method of system dynamics clarifies, I believe, the interrelated complexity of macroeconomic behaviors.
During the funded period of 2005 and 2006, the research is pretty well advanced and I'm pleased to report that following two papers were published.
1. Aggregate Demand Equilibria and Price Flexibility-SD Macroeconomic Modeling (2), Proceedings of the 23^<rd> International Conference of the System Dynamics Society, 2005. ISBN 0-9745329-3-2
In this paper, I have argued the limit of Keynesian model and tried to construct IS-LM model and Neoclassical approach of macro model uniformly on the basis of Syste
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m Dynamics method.
2. Integration of Real and Monetary Sectors with Labor Market-SD Macroeconomic Modeling (3), Proceedings of the 24th International Conference of the System Dynamics Society, 2006. (CD Forthcoming)
This paper successfully tries to integrate real sector and monetary sector of macroeconomy which were built previously on the basis of System Dynamics method.
Additionally, I submitted the paper in March 2007 titled "Balance of Payments and Foreign Exchange Dynamics" to the 25^<th> International Conference of the System Dynamics Society to be held in Boston, July 2007. In June, I was told that my paper is accepted for the presentation based on the evaluation of three referees. This paper tries to analyze the dynamics of foreign exchange determination by trade and capital flows on the basis of System Dynamics method. It constitutes a necessary portion of my macroeconomic modeling to make it an open macroeconomy in the near future.
This is a brief summary of my research activities during the funded two years. Less
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