| Budget Amount *help |
¥3,900,000 (Direct Cost: ¥3,000,000、Indirect Cost: ¥900,000)
Fiscal Year 2015: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2014: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2013: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
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| Outline of Final Research Achievements |
According to the research which decomposes global business cycles, it is revealed that many countries have been affected by soaring energy prices, productivity and financial shocks. In terms of productivity shock, however, many developing countries depend on the importing of intermediate goods, and do not result in significant improvements in domestic productivity. Multinational enterprises address processing and assembling activities while exporting and importing half-finished goods. The amount of added value attributed to these economies is relatively small, and the productivity level is inevitably low. The second topic is the exchange rate pass-through which is related to the topic of international synchronization of nominal variables. The pass-through was strongly affected by the changes in Armington elasticity in the 1990s and 2000s. Armington elasticity tends to decrease as the share of demand for imports among total demand for intermediate and capital goods increases.
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