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Enhanced uncertainty, financial intermediation and macroeconomics

Research Project

Project/Area Number 21530166
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field Economic theory
Research InstitutionHitotsubashi University

Principal Investigator

SHIOJI Etsuro  一橋大学, 大学院・経済学研究科, 教授 (50301180)

Project Period (FY) 2009 – 2011
Project Status Completed (Fiscal Year 2011)
Budget Amount *help
¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Fiscal Year 2011: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2010: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2009: ¥520,000 (Direct Cost: ¥400,000、Indirect Cost: ¥120,000)
Keywords経済理論 / 経済政策 / 計量経済学 / 不確実性 / マクロ経済学 / 経済成長 / 金融論 / 公的投資 / 時系列分析 / 金融仲介 / 資産選択
Research Abstract

An increase in uncertainty is an important source of instability to a nation economy. In this project, I have worked on some theoretical studies to investigate how uncertainty affects macroeconomic variables such as GDP. For example, in one paper, I discuss how an enhanced uncertainty affects the economy through reduced financial intermediation. I have also worked on some empirical studies. They clarify how external sources of uncertainty, such as the so-called "Lehman crisis" and fluctuations in the exchange rate, affect the Japanese economy.

Report

(4 results)
  • 2011 Annual Research Report   Final Research Report ( PDF )
  • 2010 Annual Research Report
  • 2009 Annual Research Report
  • Research Products

    (42 results)

All 2012 2011 2010 2009 Other

All Journal Article (7 results) (of which Peer Reviewed: 5 results) Presentation (22 results) Book (9 results) Remarks (4 results)

  • [Journal Article] Physical Capital Accumulation in Asia 12 : Past Trends and Future Projections2012

    • Author(s)
      Etsuro Shioji and Vu Tuan Khai
    • Journal Title

      Japan and the World Economy

      Volume: 24巻、2号 Issue: 2 Pages: 138-149

    • DOI

      10.1016/j.japwor.2012.01.011

    • Related Report
      2011 Annual Research Report 2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] 為替レートパススルー率の推移-時変係数VARによる再検証-2011

    • Author(s)
      塩路悦朗
    • Journal Title

      フィナンシャル・レビュー

      Volume: 5巻 Pages: 69-88

    • URL

      http://www.mof.go.jp/pri/publication/financial_review/fr_list6/r106/r106_06.pdf

    • Related Report
      2011 Final Research Report 2010 Annual Research Report
  • [Journal Article] Fiscal policy in a New Keynesian overlapping generations model of a small open economy2011

    • Author(s)
      Etsuro Shioji、Vu Tuan Khai、Hiroko Takeuchi
    • Journal Title

      経済研究

      Volume: 62巻、1号 Pages: 30-43

    • NAID

      120005252950

    • URL

      http://hdl.handle.net/10086/22308

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] Fiscal policy in a New Keynesian overlapping generations model of a small open economy"2010

    • Author(s)
      Etsuro Shioii, Vu Tuan Khai, Hiroko Takeuchi
    • Journal Title

      経済研究

      Volume: 62(1) Pages: 30-43

    • Related Report
      2010 Annual Research Report
    • Peer Reviewed
  • [Journal Article] 類別名目実効為替レート指標の構築とパススルーの再検証2009

    • Author(s)
      塩路悦朗、内野泰助
    • Journal Title

      経済研究

      Volume: 61巻 Pages: 47-67

    • NAID

      120003802836

    • URL

      http://hdl.handle.net/10086/19615

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] 類別名目実効為替レート指標の構築とパススルーの再検証2009

    • Author(s)
      塩路悦朗・内野泰助
    • Journal Title

      経済研究 61

      Pages: 47-67

    • NAID

      120003802836

    • Related Report
      2009 Annual Research Report
    • Peer Reviewed
  • [Journal Article]2009

    • Author(s)
      深尾京司(編)
    • Journal Title

      マクロ経済と産業構造 (第11章を担当)(慶応義塾大学出版会)

    • Related Report
      2009 Annual Research Report
  • [Presentation] Japan Economic Seminar、External Shocks and Japanese Business Cycles : Impact of the "Great Trade Collapse" on the Japanese Automobile Industry(内野泰助と共著)2012

    • Author(s)
      Etsuro Shioji
    • Organizer
      Japan Economic Seminar
    • Place of Presentation
      コロンビア大学(米国)
    • Year and Date
      2012-02-24
    • Related Report
      2011 Final Research Report
  • [Presentation] External Shocks and Japanese Business Cycles : Impact of the "Great Trade Collapse" on the Japanese Automobile Industry(内野泰助と共著)2012

    • Author(s)
      Etsuro Shioji
    • Organizer
      Japan Economic Seminar
    • Place of Presentation
      コロンビア大学(米国ニューヨーク市)
    • Year and Date
      2012-02-24
    • Related Report
      2011 Annual Research Report
  • [Presentation] 災害後における公共投資の生産性効果:成長モデルによる分析2011

    • Author(s)
      塩路悦朗
    • Organizer
      日本経済学会2011年度秋季大会
    • Place of Presentation
      筑波大学
    • Year and Date
      2011-10-29
    • Related Report
      2011 Final Research Report
  • [Presentation] 災害後における公共投資の生産性効果:成長モデルによる分析2011

    • Author(s)
      塩路悦朗
    • Organizer
      日本経済学会2011年度秋季大会特別報告
    • Place of Presentation
      筑波大学(茨城県)(招待講演)
    • Year and Date
      2011-10-29
    • Related Report
      2011 Annual Research Report
  • [Presentation] Effects of External and Fiscal Policy Shocks in Japan : Evidence from an Open Economy DSGE Model with Partial Exchange Rate Pass-through2011

    • Author(s)
      塩路悦朗、Vu Tuan Khai
    • Organizer
      マクロ計量分析研究会
    • Place of Presentation
      一橋大学
    • Year and Date
      2011-02-19
    • Related Report
      2011 Final Research Report
  • [Presentation] Effects of External and Fiscal Policy Shocks in Japan : Evidence from an Open Economy DSGE Model with Partial Exchange Rate Pass through2011

    • Author(s)
      塩路悦朗、VU Tua Khai
    • Organizer
      マクロ計量分析研究会
    • Place of Presentation
      一橋大学
    • Year and Date
      2011-02-19
    • Related Report
      2010 Annual Research Report
  • [Presentation] 開放経済ニューケインジアンモデルを用いた政策効果の評価-可能性と限界2010

    • Author(s)
      塩路悦朗
    • Organizer
      日本金融学会2010年度秋季大会
    • Place of Presentation
      神戸大学
    • Year and Date
      2010-09-26
    • Related Report
      2011 Final Research Report
  • [Presentation] 開放経済ニューケインジアンモデルを用いた政策効果の評価-可能性と限界2010

    • Author(s)
      塩路悦朗
    • Organizer
      日本金融学会2010年度秋季大会
    • Place of Presentation
      神戸大学(招待講演)
    • Year and Date
      2010-09-26
    • Related Report
      2010 Annual Research Report
  • [Presentation] Long-term projections of Asian GDP and Trade、Asian Development bank、Projection of Investment and Capital Stock for Asia2010

    • Author(s)
      Etsuro Shioji、Vu Tuan Khai
    • Organizer
      Finalization Workshop
    • Place of Presentation
      ChineseUniversity of Hong Kong(香港)
    • Year and Date
      2010-07-08
    • Related Report
      2011 Final Research Report
  • [Presentation] Projection of Investment and Capital Stock for Asia2010

    • Author(s)
      Etsuro Shioii, Vu man
    • Organizer
      Finahzation Workshop : Llong-term projections of Asian GDP and made
    • Place of Presentation
      Chinese University of Hong Kong(香港)
    • Year and Date
      2010-07-08
    • Related Report
      2010 Annual Research Report
  • [Presentation] Pass-Through of Oil Prices to Japanese Domestic Prices(内野泰助と共著)2010

    • Author(s)
      塩路悦朗
    • Organizer
      日本経済学会2010年度春季大会
    • Place of Presentation
      千葉大学
    • Year and Date
      2010-06-06
    • Related Report
      2011 Final Research Report
  • [Presentation] Pass-Through of Oil Prices to Japanese Domestic Prices2010

    • Author(s)
      塩路悦朗
    • Organizer
      日本経済学会2010年度春季大会
    • Place of Presentation
      千葉大学
    • Year and Date
      2010-06-06
    • Related Report
      2010 Annual Research Report
  • [Presentation] Effects of External and Fiscal Policy Shocks in Japan : Evidence from an Open Economy DSGE Model with Partial Exchange Rate Pass-through(Vu Tuan Khai、Hiroko Takeuchiと共著)2010

    • Author(s)
      Etsuro Shioji
    • Organizer
      Yonsei Macroeconomics Conference
    • Place of Presentation
      延世大学(ソウル)
    • Year and Date
      2010-03-18
    • Related Report
      2011 Final Research Report
  • [Presentation] Effects of External and Fiscal Policy Shocks in Japan : Evidence from an Open Economy DSGE Model with Partial Exchange Rate Pass-through2010

    • Author(s)
      Etsuro Shioji
    • Organizer
      Yonsei Macroeconomics Conference
    • Place of Presentation
      延世大学 (ソウル)
    • Year and Date
      2010-03-18
    • Related Report
      2009 Annual Research Report
  • [Presentation] 東京大学CARF・日銀調査統計局第3回コンファレンス「2000年代のわが国生産性動向-計測・背景・含意-」2009

    • Author(s)
      塩路悦朗
    • Organizer
      部門間資源配分と「生産性基準」: 4つの留意点
    • Place of Presentation
      日本銀行
    • Year and Date
      2009-11-26
    • Related Report
      2011 Final Research Report
  • [Presentation] 部門間資源配分と「生産性基準」: 4つの留意点2009

    • Author(s)
      塩路悦朗
    • Organizer
      東京大学CARF・日銀調査統計局第3回コンファレンス「2000年代のわが国生産性動向-計測・背景・含意-」
    • Place of Presentation
      日本銀行 (東京)
    • Year and Date
      2009-11-26
    • Related Report
      2009 Annual Research Report
  • [Presentation] Uncertainty shocks and financial intermediation in a dynamic general equilibrium model : a Markovian Jump Linear Quadratic Approach2009

    • Author(s)
      Etsuro Shioji
    • Organizer
      European Economic Association Summer Meeting 2009
    • Place of Presentation
      Universitat Pompeu Fabra(バルセロナ)
    • Year and Date
      2009-08-27
    • Related Report
      2011 Final Research Report
  • [Presentation] Uncertainty shocks and financial intermediation in a dynamic general equilibrium model : a Markovian Jump Linear Quadratic Approach2009

    • Author(s)
      Etsuro Shioji
    • Organizer
      European Economic Association Summer Meeting
    • Place of Presentation
      Universitat Pompeu Fabra (バルセロナ)
    • Year and Date
      2009-08-27
    • Related Report
      2009 Annual Research Report
  • [Presentation] Shocks and Incomplete Exchange Rate Pass-through in Japan : Evidence from an Open Economy DSGE Model(Hiroko Takeuchiとの共著)2009

    • Author(s)
      Etsuro Shioji、Vu Tuan Khai
    • Organizer
      Far East and South Asia Meeting of the Econometric Society 2009
    • Place of Presentation
      東京大学
    • Year and Date
      2009-08-04
    • Related Report
      2011 Final Research Report
  • [Presentation] Shocks, Incomplete Exchange Rate Pass-through in Japan : Evidence from an Open Economy DSGE Model2009

    • Author(s)
      Etsuro Shioji, Vu Tuan Khai
    • Organizer
      Far East and South Asia Meeting of the Econom etric Society
    • Place of Presentation
      東京大学 (東京)
    • Year and Date
      2009-08-04
    • Related Report
      2009 Annual Research Report
  • [Presentation] Pass-Through of Oil Prices to Japanese Domestic Prices2009

    • Author(s)
      Etsuro Shioji、Taisuke Uchino
    • Organizer
      East Asian Seminar on Economics 2009
    • Place of Presentation
      Hong Kong Monetary Authority(香港)
    • Year and Date
      2009-06-27
    • Related Report
      2011 Final Research Report
  • [Presentation] Pass-Through of Oil Prices to Japanese Domestic Prices2009

    • Author(s)
      Etsuro Shioji, Taisuke Uchino
    • Organizer
      East Asian Seminar on Economics
    • Place of Presentation
      香港 (Hong Kong Monetary Authority)
    • Year and Date
      2009-06-27
    • Related Report
      2009 Annual Research Report
  • [Book] 現代経済学の潮流20122012

    • Author(s)
      小川一夫, ほか
    • Publisher
      東洋経済新報社
    • Related Report
      2011 Final Research Report
  • [Book] 『現代経済学の潮流2012』第4章(塩路悦朗)、第7章(塩路悦朗、雨宮正佳、岩本康志、植田和男、本多佑三)(編者:小川一夫ほか)2012

    • Author(s)
      塩路悦朗
    • Publisher
      東洋経済新報社(近刊)(掲載確定)
    • Related Report
      2011 Annual Research Report
  • [Book] トラスト60研究叢書2011

    • Author(s)
      翁邦雄、北村行伸
    • Total Pages
      241
    • Publisher
      日本評論社
    • Related Report
      2011 Final Research Report
  • [Book] CommodityPrices and Markets2011

    • Author(s)
      Takatoshi Ito and Andrew Rose
    • Total Pages
      335
    • Publisher
      University of Chicago Press
    • Related Report
      2011 Final Research Report
  • [Book] バブル/デフレ期の日本経済と経済政策~我々は何を学んだのか~2011

    • Author(s)
      岩田一政
    • Total Pages
      204
    • Publisher
      内閣府経済社会総合研究所(佐伯印刷株式会社)
    • Related Report
      2011 Final Research Report
  • [Book] バブル/デフレ期の日本経済と経済政策~我々は何を学んだのか~(第2章を担当、吉川洋、伊藤隆敏、星岳雄、渡辺努、地主敏樹と共著)2011

    • Author(s)
      塩路悦朗(岩田一政、内閣府経済社会総合研究所編)
    • Total Pages
      204
    • Publisher
      内閣府経済社会総合研究所(佐伯印刷株式会社)
    • Related Report
      2010 Annual Research Report
  • [Book] Commodity Prices and Markets (第9章を担当、内野泰助との共著)2011

    • Author(s)
      Etsuro Shioji (Takatoshi Ito, Andrew Rose eds.)
    • Total Pages
      335
    • Publisher
      University of Chicago Press
    • Related Report
      2010 Annual Research Report
  • [Book] University of Chicago Press2010

    • Author(s)
      Takatoshi Ito, Andrew Rose eds.
    • Publisher
      Commodity Prices and Markets (第9章を担当、内野泰助との共著)(近刊)
    • Related Report
      2009 Annual Research Report
  • [Book] マクロ経済と産業構造2009

    • Author(s)
      深尾京司
    • Total Pages
      494
    • Publisher
      慶応義塾大学出版会
    • Related Report
      2011 Final Research Report
  • [Remarks] 塩路悦朗、内野泰助、新興国企業の台頭と為替パススルー:双方寡占モデルによる考察と時系列データによる検証、2011(11-J-6)。

    • Related Report
      2011 Final Research Report
  • [Remarks] 塩路悦朗、内野泰助、外的ショックと日本の景気変動:自動車産業における"GreatTrade Collapse"の実証分析、2011(11-J-1)。

    • Related Report
      2011 Final Research Report
  • [Remarks] 塩路悦朗、部門間資源配分と「生産性基準」: 4つの留意点、2010(10-J-4)。

    • Related Report
      2011 Final Research Report
  • [Remarks] また、公益財団法人東京経済研究センター(TCER)の東日本大震災関連緊急プロジェクトのまとめ役として日本経済新聞「ゼミナール」連載等に貢献した。

    • Related Report
      2011 Final Research Report

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Published: 2009-04-01   Modified: 2016-04-21  

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