Theoretical analysis on the disparity in assets possession between countries and industrial agglomeration
Project/Area Number |
25380311
|
Research Category |
Grant-in-Aid for Scientific Research (C)
|
Allocation Type | Multi-year Fund |
Section | 一般 |
Research Field |
Economic policy
|
Research Institution | University of Hyogo |
Principal Investigator |
|
Project Period (FY) |
2013-04-01 – 2017-03-31
|
Project Status |
Completed (Fiscal Year 2016)
|
Budget Amount *help |
¥3,900,000 (Direct Cost: ¥3,000,000、Indirect Cost: ¥900,000)
Fiscal Year 2016: ¥520,000 (Direct Cost: ¥400,000、Indirect Cost: ¥120,000)
Fiscal Year 2015: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2014: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2013: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
|
Keywords | 貨幣の非中立性 / 需要の異質性 / 経常収支の不均衡 / 国際投資残高 / ユーロ導入国 / マーストリヒト収斂条件 / 財需要の異質性 / 経常収支不均衡 |
Outline of Final Research Achievements |
In this study, I considered economic integration with paying attention to financial-assets. Empirical analysis demonstrated that it is difficult for euro member countries to fulfill the convergence criteria without a structural change which sacrifices the balanced current accounts. This analysis shows one of the factors which causes the balance-of-payments problem generated in some countries in the Euro zone. In the process of building the model for analyzing financial assets movement between countries, I demonstrated a new mechanism which cause the non-neutrality of money which is not shown in conventional literatures. The effectiveness of monetary and fiscal policies depends on whether money is neutral or not. I made empirical analyses by using data of eight countries i.e. main EU countries in addition to U.S., Japan, Canada, Australia to test this model.
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Report
(5 results)
Research Products
(6 results)