| Budget Amount *help |
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2010: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2009: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2008: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2007: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
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| Research Abstract |
The "lost decade" in Japan has been caused by the burden of non-performing loan after the collapse of bubble. The routes of processing NPL are three: bank lending, TFP, and household income. This study stressed the importance of channel of household income, which affects the nature of business cycle in Japan in this period. The length of boom is shorter and the investment heavily decreases in the recession. The expansion of macro-economy is limited, which is explained by this study.
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