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Firm-level Volatility and Economic Growth

Research Project

Project/Area Number 21730163
Research Category

Grant-in-Aid for Young Scientists (B)

Allocation TypeSingle-year Grants
Research Field Economic theory
Research InstitutionTohoku University (2010)
Waseda University (2009)

Principal Investigator

OIKAWA Koki  東北大学, 大学院・経済学研究科, 准教授 (90468728)

Project Period (FY) 2009 – 2010
Project Status Completed (Fiscal Year 2010)
Budget Amount *help
¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2010: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2009: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Keywords企業レベルの不確実性 / 経済成長 / 景気変動 / ボラティリティ
Research Abstract

This research project built a theory that explains firm-level uncertainty, which is not aggregate but idiosyncratic, stimulates economic growth through accumulation of knowledge to reduce uncertainty. A surge in firm-level uncertainty surely brings a negative impact on the economy at least in the short run. However, the long-run impact turns out positive. I examined this model empirically using the firm-level data in the United States. Besides, I looked into the mechanism that generates relationship between firm-level uncertainty and macroeconomic fluctuation, based on the observed data in Japan and the United States. Firm-level uncertainty is procyclical in the United States on one hand, and it is countercyclical in Japan on the other. The model I built consistently explains this opposite tendency in cyclicality.

Report

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

    (5 results)

All 2010

All Journal Article (3 results) (of which Peer Reviewed: 3 results) Presentation (2 results)

  • [Journal Article] Uncertainty-driven Growth2010

    • Author(s)
      Koki Oikawa
    • Journal Title

      Journal of Economic Dynamics and Control

      Volume: v34 Pages: 897-912

    • Related Report
      2010 Final Research Report
    • Peer Reviewed
  • [Journal Article] Uncertainty-driven Growth2010

    • Author(s)
      及川浩希
    • Journal Title

      Journal of Economic Dynamics and Control

      Volume: 34 Pages: 897-912

    • Related Report
      2010 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Uncertainty-driven Growth2010

    • Author(s)
      及川浩希
    • Journal Title

      Journal of Economics Dynamics and Control 34

      Pages: 897-912

    • Related Report
      2009 Annual Research Report
    • Peer Reviewed
  • [Presentation] Firm-level Volatality and Business Cycles2010

    • Author(s)
      及川浩希
    • Organizer
      日本経済学会秋季大会
    • Place of Presentation
      関西学院大学(神戸)
    • Year and Date
      2010-09-18
    • Related Report
      2010 Final Research Report
  • [Presentation] Firm-level Volatility and Business Cycles2010

    • Author(s)
      及川浩希
    • Organizer
      日本経済学会
    • Place of Presentation
      関西学院大学
    • Year and Date
      2010-09-18
    • Related Report
      2010 Annual Research Report

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

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