| Project/Area Number |
20K01546
|
|---|
| Research Category |
Grant-in-Aid for Scientific Research (C)
|
| Allocation Type | Multi-year Fund |
|---|
| Section | 一般 |
|---|
| Review Section |
Basic Section 07010:Economic theory-related
|
|---|
| Research Institution | Osaka University |
|---|
Principal Investigator |
YOO DONGHOON 大阪大学, 社会経済研究所, 講師 (20868541)
|
|---|
| Project Period (FY) |
2020-04-01 – 2023-03-31
|
| Project Status |
Completed (Fiscal Year 2022)
|
| Budget Amount *help |
¥3,900,000 (Direct Cost: ¥3,000,000、Indirect Cost: ¥900,000)
Fiscal Year 2022: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2021: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2020: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
|
|---|
| Keywords | Business cycles / Diagnostic expectations / Imperfect information / Missperception / Consumer confidence / DSGE / Rationality / expectations / confidence / diagnosticity / misperception / Noisy information / Expectations / Learning / Diagnosticity / Misperception / Confidence |
|---|
| Outline of Research at the Start |
The proposed project contributes to the existing literature by proposing a novel mechanism based on behavioral foundations to replicate fluctuations. The project will exploit the plausible source of distortions inherent to agents' preference and information to explain fluctuations. This will be the first work that the channels through which preferences, information, and demand-driven booms and busts are jointly determined and that the various behavioral models are compared by matching the data.
|
| Outline of Final Research Achievements |
The project expects to contribute to the existing literature by introducing a novel mechanism grounded in behavioral foundations to replicate economic fluctuations. By exploring the distortions arising from agents' preferences, expectation formation, and information, this project aims to provide an explanation for the observed fluctuations in the economy. This project also provides a toolkit that researchers can use for their own research.
|
| Academic Significance and Societal Importance of the Research Achievements |
It contributes to the existing literature on behavioral macroeconomics and information frictions by integrating non-rational expectations into linear dynamics macroeconomic models and by providing structural interpretation of consumer confidence and understanding the underlying mechanism out of it.
|
