1990 Fiscal Year Final Research Report Summary
Theoretical and Empirical Studies on Postwar Japanese Economic Growth and Business Cycles
| Project/Area Number |
01450081
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| Research Category |
Grant-in-Aid for General Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
経済事情及び政策学
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| Research Institution | Univ, of Tokyo |
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Principal Investigator |
ISHIKAWA Tsuneo Univ. of Tokyo, Economics, Professor, 経済学部, 教授 (90107483)
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| Co-Investigator(Kenkyū-buntansha) |
NISHIMURA Kiyohiko Univ. of Tokyo, Economics, Assoc. Prof., 経済学部, 助教授 (70164580)
UEDA Kazuo Univ. of Tokyo, Economics, Assoc. Prof., 経済学部, 助教授 (90151787)
YOSHIKAWA Hiroshi Univ. of Tokyo, Economics, Assoc. Prof., 経済学部, 助教授 (30158414)
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| Project Period (FY) |
1989 – 1990
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| Keywords | Business Cycle / Japanese Economy / Flexibility of prices / Money Supply / New Entry Labor Market / Current Account |
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| Research Abstract |
Examining He data of the Japanese and the U. S. economies, flexibility of prices was found to be a shock absorber of vealshocks.
Examining the industrijwise cohort data on wages, the new entry labor market in Japan exhibits. downward rigiaity, thus allowing rationing in downturn periods.
Examining the relationship between money supply and output indices, money supply is found to be accommodating to real movements, contrary to monetarist views,
Examining the long-run data on the current accounts of Japan, the U. S. and the U. K., the largest factor responsible for current account imbalances is the movement of military expenditures, but the recent movement reflects factors other than military expenditures.
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