| Budget Amount *help |
¥4,030,000 (Direct Cost: ¥3,100,000、Indirect Cost: ¥930,000)
Fiscal Year 2011: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2010: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2009: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
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| Research Abstract |
It is known as business cycles that the national economies develop through booms and recessions in irregular cycles with frequencies of 2. 5-5 years. Standard economic theory can explain the wide range of business cycles phenomena, once it is assumed that the total factor productivity fluctuates in those frequencies. However, economists have not agreed on what mechanism drives the productivity fluctuation. In this research project, I formalize the idea that a firm-level investment induces another firm's investment, and test the theoretical hypotheses by firm-level investment data empirically.
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