| Budget Amount *help |
¥3,770,000 (Direct Cost: ¥2,900,000、Indirect Cost: ¥870,000)
Fiscal Year 2016: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2015: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2014: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
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| Outline of Final Research Achievements |
In this study, I developed a theory and conducted an empirical analysis of inflation expectations. First, I developed a method that converts qualitative data into numerical data. This means that we can estimate the inflation expectation rates with the help of the survey results. I employed not only the mean and variance, but also skewness and kurtosis, to estimate the distribution of inflation expectations. Doing so enables the removal of the upward bias of inflation expectation rate series, which is simply estimated by weighted average. Second, I calculated the DSGE model using a software code and clarified the structure of the model. Third, I surveyed Keynes' attitudes of inflation expectations, and indicated the positioning of the role of inflation expectations in the 1930s.
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