| Budget Amount *help |
¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
Fiscal Year 2015: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2014: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2013: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
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| Outline of Final Research Achievements |
This research project focuses on an optimal economic growth model with multiple heterogeneous industries and analyzes how an economy behaves dynamically when there is a change in industrial structure which is captured by a change in relative capital intensities between two industries. We consider the case when one industry produces capital intensive consumption goods and the other produces labor intensive investment goods. On one hand, if a difference of capital intensities between two industries is large enough, there is less fluctuations and an optimal program converges monotonically to the long-run equilibrium. On the other hand, if the difference becomes small and the structures of two industries are close enough, an optimal program becomes more complicated and there is continuous fluctuations around the long-term equilibrium.
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