| Budget Amount *help |
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2013: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2012: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2011: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
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| Research Abstract |
In the first project regarding dynamic stochastic general equilibrium (DSGE) models with the zero lower bound constraint on the nominal interest rate, I examine how and to what extent parameter estimates can be biased in a DSGE model that ignores the existence of the zero lower bound. In the second project that employs DSGE models with stochastic trends, I propose a method to identify news shocks, which are anticipated by economic agents, and quantify the importance of such shocks in explaining macroeconomic fluctuations.
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