| Budget Amount *help |
¥4,771,000 (Direct Cost: ¥3,670,000、Indirect Cost: ¥1,101,000)
Fiscal Year 2012: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2011: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2010: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2009: ¥741,000 (Direct Cost: ¥570,000、Indirect Cost: ¥171,000)
Fiscal Year 2008: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
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| Research Abstract |
This research project focuses on an economy with two production sectors producing consumption goods and investment goods respectively and analyzes theoretically how the economy behaves dynamically when resources are allocated every period of time so as to sustain an optimal growth. In the case of not discounting the future utility, the economy converges to the long run steady state so called the golden rule. However, in the case of discounting, it does not necessarily converge to the golden rule. Dynamic behavior of the economy depends on how much we discount the future welfare.
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