1997 Fiscal Year Final Research Report Summary
Studies in Farm Household and Aggregate Fluctutaion
| Project/Area Number |
07406011
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| Research Category |
Grant-in-Aid for Scientific Research (A)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Agro-economics
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| Research Institution | University of Tsukuba |
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Principal Investigator |
SASAKI Kozo Univ.of Tsukuba, Inst.of Policy and Planning Sciences, Professor, 社会工学系, 教授 (30003073)
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| Co-Investigator(Kenkyū-buntansha) |
MARUYAMA Yoshihiro Univ.of Tsukuba, Professor Emeritus, 名誉教授 (40026472)
YAMADA Tadashi Univ.of Tsukuba, Inst.of Policy and Planning Sciences, Assoc.Professor, 社会工学系, 助教授 (10210460)
HASHIMOTO Akihiro Univ.of Tsukuba, Inst.of Policy and Planning Sciences, Assoc.Professor, 社会工学系, 助教授 (10143158)
HIGUCHI Teizo Univ.of Tsukuba, Inst.of Agricultural and Forestry Sciences, Professor, 農林学系, 教授 (50003752)
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| Project Period (FY) |
1995 – 1997
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| Keywords | Family Economy / Aggregate Fluctutaions / Self-Employment / Household Production / Stabilization Policy |
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| Research Abstract |
It has been observed that self-employed households and those of workers engaged in household production tend to stabilize aggregate fluctutaions both in terms of employment and demand for goods and services. Maruyama and others (1995) rigorously established this possibility and published their results already.
For this year, they have attempted its empirical verification by use of the labor force survey and the national accounts of Japan and the current population survey and the national income and product accounts of the United States. They have used the Hodrick-Prescott filter in addition to conventional methods of detrending and verified that the family employment consisting of self-employed and unpaid family workers and persons not in labor force do moderate fluctuations in business employment in the two countries. The magnitude of fluctuations absorbed by them amounts to five times as much in Japan while 40% as much in US as those absorbed by unemployment.
On the other hand, household expenditures for consumer services and nondurables exhibit smaller coefficients of variation than GDP,therefore they combine with their large shares in GDP to moderate aggregate fluctuations in the two countries. Furthermore, government investment in structures and imports in Japan while expenditures for national defense and imports in US are inversely correlated with GDP,hence the countercyclical policy of the governments and the built-in stabilization of imports are verified. Thus, households of self-employed, and wage and salary workers are found to practically perform the countercyclical policy of Keynes'type in their private capacity in the two countries.
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