| Budget Amount *help |
¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000)
Fiscal Year 2016: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2015: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2014: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2013: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
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| Outline of Final Research Achievements |
We employ a simple macroeconomic model and simulation to investigate the effect of monetary policy in response to the negative demand shock which cuts the equilibrium real interest rate in the imperfect international capital market. As the result of this analysis, we clarify that there is a trade-off between the price stability and the optimal allocation of international capital, and that slightly tighter monetary policy can be optimal under some economic conditions.
We also investigate alternative core-inflation indicators. As the result of our analysis, we clarify that the sticky-price index which is built on the basis of a new Keynesian model is superior to the general price index and the trimmed average price indices in the forecast of future inflation.
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