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On Determinants of Asset Distributions in Japan: Theory and Evidence

Research Project

Project/Area Number 18530212
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field Economic policy
Research InstitutionSophia University

Principal Investigator

TAKEDA Yosuke  Sophia University, Department of Economics, Professor (20266068)

Co-Investigator(Kenkyū-buntansha) UEDA Atsuko  Waseda University, School of Political Science and Economics, Professor (00264581)
DEJIMA Takahisa  Sophia University, Department of Economics, Associate Professor (70286756)
Project Period (FY) 2006 – 2007
Project Status Completed (Fiscal Year 2007)
Budget Amount *help
¥3,830,000 (Direct Cost: ¥3,500,000、Indirect Cost: ¥330,000)
Fiscal Year 2007: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2006: ¥2,400,000 (Direct Cost: ¥2,400,000)
KeywordsEconomic Fluctuation / Inflation / Infrastructure / Flow of Funds / Education / Tobin Effect / Market Communication / 世代 / 将来不安 / 情報集約機能 / 借り入れ制約 / 資産分布 / 教育投資 / 借入制約 / 予備的貯蓄 / 不可逆性
Research Abstract

The research project addressed effects of economic fluctuations and inflation on determination of assets' distributions. We empirically analyzed the Japanese data, relying upon some theoretical models.
Concerning effects of economic fluctuations, we have three publications:“Industrial Spillover of Productivities through R&D and Intermediate Materials: A Case of Road"; “Business Cycle and How of Funds"; “On Determinants of Educational Expenditures by the Japanese Households: Using the Japanese Panel Survey of Consumers."The first paper identifies effects of R&D and intermediate materials on productivities'spillover among industries. The second paper estimates the VAR models where each financial item held by each economic agent (households, corporations or government) is included with some aggregates of economic fluctuations and monetary policy's instruments. The third one gives us some evidence upon how educational expenditures for children's human capital depend upon parents' educational backgrounds, incomes earned or assets held.
We also have another two papers upon effects of inflation. A paper entitled as “A Note on the Robustness of the Tobin Effect in Incomplete Market" constructs a model of the Tobin effect where moderate level of inflation can cause an increase in social welfare. The other paper empirically analyzes announcement effects of public or private signals upon asset prices, taking as examples announcements of the Consumer Price Index, the Index for Industrial Production, or monetary policy meetings of the Bank of Japan (“Market Communication: A Case of the Bank of Japan after the New Law").

Report

(3 results)
  • 2007 Annual Research Report   Final Research Report Summary
  • 2006 Annual Research Report
  • Research Products

    (9 results)

All 2008 2007 2006 Other

All Journal Article (5 results) (of which Peer Reviewed: 1 results) Book (3 results) Remarks (1 results)

  • [Journal Article] Market Communication^ A Case of the Bank of Japan after the New Law2008

    • Author(s)
      Yosuke Takeda, Yasuhide Yajima.
    • Journal Title

      Chapter 8 in The Japanese Economy Reviving Global Competitiveness, eds. by Yutaka Kosai and Tsutomu Miyagawa

      Pages: 244-279

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2007 Final Research Report Summary
  • [Journal Article] Industrial Spillover of Productivities through R&D and Intermediate Materials : A Case of Road2007

    • Author(s)
      Yosuke Takeda, Yasuyuki Komaki.
    • Journal Title

      Chapter 8 in Structural Changes and Business Cycle in Japan, eds. by Asako Kasumi and Tsutomu Miyagawa

      Pages: 152-177

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2007 Final Research Report Summary
  • [Journal Article] Business Cycle and Flow of Funds2007

    • Author(s)
      Yasuhide Yajima, Toshiki Jinushi, Yosuke Takeda.
    • Journal Title

      Chapter 12 in Structural Changes and Business Cycle in Japan, eds. by Asako Kasumi and Tsutomu Miyagawa

      Pages: 257-275

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2007 Final Research Report Summary
  • [Journal Article] A Note on the Robustness of the Tobin Effect in Incomplete Market2006

    • Author(s)
      Makoto Saito, Yosuke Takeda
    • Journal Title

      Macroeconomic Dynamics 10

      Pages: 131-143

    • NAID

      120000819253

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2007 Final Research Report Summary
    • Peer Reviewed
  • [Journal Article] A Note on the Robustness of the Tobin Effect in Incomplete Market2006

    • Author(s)
      Makoto Saito, Yosuke Takeda.
    • Journal Title

      Macroeconomic Dynamics vol. 10

      Pages: 131-143

    • NAID

      120000819253

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2007 Final Research Report Summary
  • [Book] 「金融市場との対話-新法下の日本銀行のケース」『日本経済ーグローバル競争力の再生』第8章2008

    • Author(s)
      竹田陽介, 矢嶋康次
    • Publisher
      日本経済新聞社
    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2007 Final Research Report Summary
  • [Book] 「景気循環と資金循環」『日本経済の構造変化と景気循環』第8章2007

    • Author(s)
      矢嶋康次, 地主敏樹, 竹田陽介
    • Publisher
      東京大学出版会
    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2007 Final Research Report Summary
  • [Book] 「R&Dおよび中間投入を通じた産業間のSpillover : 道路資本ストックの生産性効果」『日本経済の構造変化と景気循環』第12章2007

    • Author(s)
      竹田陽介, 小巻泰之
    • Publisher
      東京大学出版会
    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2007 Final Research Report Summary
  • [Remarks] 「研究成果報告書概要(和文)」より

    • URL

      http://21coe-glope.com/paper/21COE_WP26.pdf

    • Related Report
      2007 Final Research Report Summary

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Published: 2006-04-01   Modified: 2016-04-21  

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