Economic growth and business fluctuation under free asset trade

• Project/Area Number: 18530134
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Single-year Grants
• Section: 一般
• Research Field: Economic theory
• Research Institution: Osaka University
• Principal Investigator: ONO Yoshiyasu Osaka University, 社会経済研究所, 教授 (70130763)
• Project Period (FY): 2006 – 2009
• Project Status: Completed (Fiscal Year 2009)
• Budget Amount: ¥2,320,000 (Direct Cost: ¥1,900,000、Indirect Cost: ¥420,000); Fiscal Year 2009: ¥520,000 (Direct Cost: ¥400,000、Indirect Cost: ¥120,000); Fiscal Year 2008: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000); Fiscal Year 2007: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000); Fiscal Year 2006: ¥500,000 (Direct Cost: ¥500,000)
• Keywords: 不況 / 賃金調整 / 流動性選好 / 失業 / 財政支出 / 貿易政策 / 為替レート / 国際資本取引 / 公正賃金 / フィリップス曲線 / 財政政策 / 金融緩和 / 流動性のわな / 関税 / 貿易数量制限 / 変動相場 / 国際資産取引 / 貯蓄税 / 投資税 / 資本蓄積 / 資産移転 / 需要不足 / 対外資産 / 援助国

Research Abstract

A dynamic optimization model with free asset trade is proposed. With full employment long-run production patterns and the effects of saving and investment taxes are found to be quite different from those under no asset trade. With persistent stagnation it is shown that productivity improvement and import restrictions 'reduce' home employment through exchange-rate adjustment

Research Products

• [Journal Article] Japan'S Long-run Stagnation and Economic Policies (2010)
  • Author(s): Y. Ono
  • Journal Title: The Return to Keynes(Bradley Bateman, Toshiaki Hirai, Maria Cristina Marcuzzo)(Harvard University Press) Pages: 32-50
  • Peer Reviewed
• [Journal Article] Time Patience and Specialization Patterns in the Presence of Asset Trade (2010)
  • Author(s): Y. Ono, A. Shibata
  • Journal Title: Journal of Money, Credit and Banking 42,No.1 Pages: 93-112
  • Peer Reviewed
• [Journal Article] Time Patience and Specialization Patterns in the Presence of Asset Trade (2010)
  • Author(s): Y.Ono, A.Shibata
  • Journal Title: Journal of Money, Credit and Banking Vol. 42 No. 1 Pages: 93-112
  • Peer Reviewed
• [Journal Article] Japan's Long-run Stagnation and Economic Policies (2010)
  • Author(s): Y.Ono
  • Journal Title: Chapter 2 in The Return to Keynes Pages: 32-50
  • Peer Reviewed
• [Journal Article] International Asset Trade, Capital Income Taxation, and Specialization Patterns (2008)
  • Author(s): K. Futagami, A. Kaneko, Y. Ono, A. Shibata
  • Journal Title: Journal of Public Economic Theory 10,No.5 Pages: 743-763
  • Peer Reviewed
• [Journal Article] The Effects of New Environment on Foreign Direct Investment in an Oligopolistic Heckscher-Ohlin Model (2008)
  • Author(s): Y. Ono
  • Journal Title: in Contemporary and Emerging Issues in Trade Theory and Policy(Sugata Marjit, Eden Yu) Pages: 367-377
  • Peer Reviewed
• [Journal Article] International Asset Trade, Capital Income Taxation, and Specialization Patterns (2008)
  • Author(s): K. Futagami, A. Kaneko, Y. Ono, A. Shibata
  • Journal Title: Journal of Public Economic Theory 10, No.5 Pages: 743-763
  • Peer Reviewed
• [Journal Article] "The Effects of New Environment on Foreign Direct Investment in an Oligopolistic Heckscher -Ohlin Model," in Contemporary and Emerging Issues in Trade Theory and Policy, ed. (2008)
  • Author(s): Sugata Marjit and Eden Yu, Emerald
  • Journal Title: Bingley Pages: 367-377
  • Peer Reviewed
• [Journal Article] International Asset Trade, Capital Income Taxation, and Specialization Patterns (2008)
  • Author(s): K. Futagami, A. Kaneko, Y. Ono, A. Shibata
  • Journal Title: Journal of Public Economic Theory 10 Pages: 743-763
  • Peer Reviewed
• [Journal Article] International Transfer under Stagnation (2007)
  • Author(s): Y. Ono
  • Journal Title: in Theory and Practice of Foreign Ai( Sajal Lahiri) Pages: 155-171
  • Peer Reviewed
• [Journal Article] Relative Emission Standard versus Tax under Oligopoly: The Role of Free Entry (2007)
  • Author(s): S. Lahiri, Y. Ono
  • Journal Title: Journal of Economics 91,no.2
  • Peer Reviewed
• [Journal Article] "International Transfer under Stagnation," in Theory and Practise of Foreign Aid, ed. by Sajal Lahiri (2007)
  • Author(s): Y. Ono
  • Journal Title: Elsevier : Amsterdam Pages: 155-171
  • Peer Reviewed
• [Journal Article] Relative Emission Standard versus Tax under Oligopoly: The Role of Free Entry (2007)
  • Author(s): S. Lahiri and Y. Ono
  • Journal Title: Journal of Economics 91 Pages: 107-128
  • Peer Reviewed
• [Presentation] Nominal Wage Adjustment, Demand Shortage and Economic Policy (2010)
  • Author(s): 小野善康
  • Organizer: 6th International Keynes Conference
  • Place of Presentation: 上智大学
• [Presentation] Nominal Wage Adjustment, Demand Shortage and Economic Policy (2010)
  • Author(s): 小野善康
  • Organizer: 6^<th> International Keynes Conference
  • Place of Presentation: 上智大学
• [Presentation] ケインズは甦ったか (2009)
  • Author(s): 小野善康
  • Organizer: 日本財政学会66回大会シンポジウム
  • Place of Presentation: 明治学院大学
  • Year and Date: 2009-10-17
• [Presentation] ケインズは不況を説明したのか (2009)
  • Author(s): 小野善康
  • Organizer: 第6回行動経済学研究センターシンポジウム
  • Place of Presentation: 大阪大学中之島センター
  • Year and Date: 2009-08-26
• [Presentation] Trade Policy, Exchange-rate Adjustment and Unemployment (2008)
  • Author(s): 小野善康
  • Organizer: How Globalisation is shaping the Asia-Pacific : Multi-disciplinary Perspectives
  • Place of Presentation: Bond University, Gold Coast, Australia
  • Year and Date: 2008-09-26
• [Presentation] Trade Policy, Exchange-rate Adjustment and Unemployment (2008)
  • Author(s): Y. Ono
  • Organizer: How Globalisation is Shaping the Asia-Pacific: Multi-disciplinary Perspectives
  • Place of Presentation: Bond University, Australia
• [Presentation] Stagnation Dynamics and Keynes's General Theory (2007)
  • Author(s): Y Ono
  • Organizer: Osaka University Forum 2007 in Groningen: Frontiers of Economics and Its Applications
  • Place of Presentation: Hampshire Hotel Plaza, Groningen, The Netherlands
• [Presentation] Stagnation Dynamics and the General Theory (2007)
  • Author(s): 小野善康
  • Organizer: Keynes Conference: Keynes's Economics and His Influences on Modem Economics
  • Place of Presentation: 上智大学
• [Presentation] Liquidity Preference and Demand Shortage (2006)
  • Author(s): 小野善康
  • Organizer: 立教大学経済学部創立100周年記念シンポジウム:ケインズと現代経済学『一般理論』刊行70周年を記念して
  • Place of Presentation: 立教大学
  • Year and Date: 2006-11-17
• [Book] 金融第2版 (2009)
  • Author(s): 小野善康
  • Total Pages: 214
  • Publisher: 岩波書店
• [Book] 金融 第2版 (2009)
  • Author(s): 小野善康
  • Total Pages: 214
  • Publisher: 岩波書居
• [Book] 金融 第2版 (2009)
  • Author(s): 小野善康
  • Total Pages: 214
  • Publisher: 岩波書店
• [Book] Contemporary and Emerging Issues in Trade Theory and Policy (2008)
  • Author(s): S. Marjit, E. Yu(編)
  • Publisher: Emerald
• [Book] 不況のメカニズム-ケインズ「一般理論」から新たな「不況動学」へ (2007)
  • Author(s): 小野善康
  • Total Pages: 223
  • Publisher: 中公新書
• [Book] 不況のメカニズム-ケインズ「一般理論」から新しい「不況動学」へ (2007)
  • Author(s): 小野善康
  • Total Pages: 223
  • Publisher: 中央公論新社
• [Book] 不況のメカニズム (2007)
  • Author(s): 小野善康
  • Total Pages: 223
  • Publisher: 中央公論新社
• [Book] Theory and Practice of Foreign Aid (2007)
  • Author(s): S. Lahiri (編)
  • Publisher: Elsevier
• [Book] 経済学 名著と現代 (2007)
  • Author(s): 日本経済新聞社(編)
  • Publisher: 日本経済新聞社
• [Book] International Transfer under Stagnation(in S. Lahiri (ed.))(Theory and Practice of Foreign Aid)
  • Author(s): Ono, Yoshiyasu
  • Publisher: Elsevier(forthcoming)
• [Remarks]
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• [Remarks]
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• [Remarks]
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• [Remarks]
  • URL: http://www.iser.osaka-u.ac.jp/~ono/