Global Rebalances and Design of New International Policy Coordination

• Project/Area Number: 21530303
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Single-year Grants
• Section: 一般
• Research Field: Public finance/Monetary economics
• Research Institution: Kobe University
• Principal Investigator: MATSUBAYASHI Yoichi 神戸大学, 大学院・経済学研究科, 教授 (90239062)
• Project Period (FY): 2009 – 2011
• Project Status: Completed (Fiscal Year 2011)
• Budget Amount: ¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000); 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: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
• Keywords: 対外不均衡 / グローバル・リバランス / 国際政策協調 / グローバル・インバランス / 貯蓄・投資バランス / 住宅価格 / 国際資金フロー / 国際通貨システム / 流動性制約 / 家計消費

Research Abstract

This research analyzes empirically the mechanism of global rebalances and investigates the feasibility of international policy coordination. The most remarkable finding is that the detailed quantiative anaysis was conducted to examine the characters of external imbalances in the U. S, which has been the major country of global imbalances. The examinations clarified that the movements of the current account cotain"other factor"as well as structural and cyclical factors. The investigation also cleared that it indicates implicitly the orgin of the financial crisis in the recent world.

Research Products

• [Journal Article] Income Uncertainty, Risk Aversion, and Consumption Behavior : The Japanese Experience from 1987 to 2009 (2012)
  • Author(s): 松林洋一
  • Journal Title: Kobe Economic Review Volume: Vol.57 Pages: 13-38
  • NAID: 110009004175
• [Journal Article] Exchange Rate, Expected Profit, and capital Stock Adjustment : Japanese Experience (2011)
  • Author(s): 松林洋一
  • Journal Title: The Japanese Economic Review Volume: Vol.62. No.2 Pages: 215-247
• [Journal Article] Exchange Rate, Expected Profit and Capital Stock Adjustment : Japanese Experience (2011)
  • Author(s): 松林洋一
  • Journal Title: Japanese Economic Review Volume: (Forthcoming) Pages: 1-3
• [Journal Article] Budget Deficits and Current Account in Japan and the U.S.: An Empirical Evidence on the Twin Deficits Hypothesis (2010)
  • Author(s): 松林洋一
  • Journal Title: Faculty of Economics Discussion Paper Volume: 1010 Pages: 1-35
• [Journal Article] 家計貯蓄・企業貯蓄・政府貯蓄:代替性の日米比較 (2009)
  • Author(s): 松林洋一
  • Journal Title: 経済分析 Volume: 第181巻 Pages: 46-77
  • NAID: 40016456693
• [Journal Article] グローバル・インバランス:概念整理と展望 (2009)
  • Author(s): 松林洋一
  • Journal Title: 経済学研究年報 Volume: Vol.55 Pages: 65-86
  • NAID: 110007018304
• [Journal Article] Emprical Analysis of Import Deamand Behavior in Least Developing Countries (2009)
  • Author(s): 松林洋一
  • Journal Title: Economic Bulletin Volume: Vol.29-2 Pages: 1443-1458
• [Journal Article] 米国経常収支・資本収支の構造的変動と循環的変動 (2009)
  • Author(s): 松林洋一
  • Journal Title: フィナンシャル・レヴュー Volume: 第95巻 Pages: 93-118
• [Journal Article] 住宅資産・流動性制約・家計消費:米国の経験 (2009)
  • Author(s): 松林洋一
  • Journal Title: 国民経済雑誌 Volume: 第200巻第2号 Pages: 1-21
  • NAID: 110007176070
• [Journal Article] Empirical Analysis of Import Demand Behavior in Least Developing Countries (2009)
  • Author(s): 松林洋一・羽森茂之
  • Journal Title: Economic Bulletin 29-2 Pages: 1460-1475
  • Peer Reviewed
• [Journal Article] Empirical Analysis of Export Demand Behavior of LDCs : Panel Cointegration Approach (2009)
  • Author(s): 松林洋一・羽森茂之
  • Journal Title: Economic Bulletin 29-3 Pages: 1996-2005
  • Peer Reviewed
• [Journal Article] 米国経常収支・資本収支の構造的変動と循環的変動 (2009)
  • Author(s): 松林洋一
  • Journal Title: フィナンシャル・レヴュー 95 Pages: 93-118
• [Journal Article] 住宅資産・流動性制約・家計消費:米国の経験 (2009)
  • Author(s): 松林洋一
  • Journal Title: 国民経済雑誌 200-2 Pages: 1-21
  • NAID: 110007176070
• [Presentation] 米国資本収支の構造的変動と循環的変動 (2009)
  • Author(s): 松林洋一
  • Organizer: 日本国際経済学会
  • Place of Presentation: 中央大学(東京都)
  • Year and Date: 2009-10-18
• [Presentation] International Interdependence and Business Cycles transmission between U.S. and East Asia : A Bayesian Network Approach (2009)
  • Author(s): 松林洋一
  • Organizer: 日本経済学会春季大会
  • Place of Presentation: 京都大学(京都府)
  • Year and Date: 2009-06-06
• [Presentation] 米国における資本収支の構造的変動と循環的変動 (2009)
  • Author(s): 松林洋一
  • Organizer: 日本国際経済学会秋季大会
  • Place of Presentation: 中央大学
• [Presentation] Structural and Cyclical Movements of the Current Account in the U. S. 1976-2007 (2009)
  • Author(s): 松林洋一
  • Organizer: Econometric Society far eastern meeting
• [Presentation] International Interdependence and Business Cycles transmission between USAnd East Asia : A Bayesian Network Approach (2009)
  • Author(s): 松林洋一
  • Organizer: 日本経済学会春季大会
  • Place of Presentation: 京都大学
• [Book] 対外不均衡とマクロ経済:理論と実証 (2010)
  • Author(s): 松林洋一
  • Total Pages: 400
  • Publisher: 東洋経済新報社
• [Book] グローバル・インバランスの経済分析 (2010)
  • Author(s): 藤田誠一・岩壷健太郎
  • Total Pages: 234
  • Publisher: 有斐閣