| Project/Area Number |
22730166
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
Economic theory
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| Research Institution | Kyoto University |
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Principal Investigator |
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| Project Period (FY) |
2010 – 2011
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| Project Status |
Completed (Fiscal Year 2011)
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| Budget Amount *help |
¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
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)
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| Keywords | 実質為替レート / インフレーション / 価格粘着性 / 経済政策 / 一物一価法則 / 情報の不完全性 / 金融政策 / 技術ショック |
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| Research Abstract |
This research project employs the micro price data in the US and discusses good-level inflation and law-of-one-price deviations. More specifically, it attempts to uncover the interaction between the degrees of price stickiness and the price dynamics. The project consists of two papers. The first paper empirically investigates the dynamic responses of the good-level inflation to monetary policy shocks and technology shocks and attempts to provide theoretical explanations for the dynamic responses. The second paper focuses on the persistence of the law-of-one-price deviations across US cities. It is argued that the imperfect information may play an important role in accounting for the observed persistence of relative prices across US cities.
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