| Budget Amount *help |
¥3,120,000 (Direct Cost: ¥2,400,000、Indirect Cost: ¥720,000)
Fiscal Year 2016: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2015: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2014: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
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| Outline of Final Research Achievements |
In this project, we analyzed business cycle fluctuations in an economy with heterogeneity in wealth and wages across individuals. In particular, we examined uncertainty shocks, which are changes in wage uncertainty faced by individuals. We found that uncertainty shocks have important effects on labor market fluctuations. Further, in order to analyze credit shocks, which are changes in individuals' borrowing ability, we constructed a new model by introducing individuals' asset choice into an existing model including inequality across individuals.
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