2001 Fiscal Year Final Research Report Summary
Policy Possibilities of the New Macroeconomics
| Project/Area Number |
11630011
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
経済理論
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| Research Institution | Osaka University |
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Principal Investigator |
FUTAGAMI Koichi Osaka University, Graduate School of Economics, Professor, 大学院・経済学研究科, 教授 (30199400)
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| Co-Investigator(Kenkyū-buntansha) |
ONO Yoshiyasu Osaka University, Institute of Social and Economic Research, Professor, 社会経済研究所, 教授 (70130763)
OHTAKE Fumio Osaka University, Institute of Social and Economic Research, Professor, 社会経済研究所, 教授 (50176913)
IWAMOTO Yasushi Kyoto University, Institute of Economic Research, Associate Professor, 経済学研究所, 助教授 (40193776)
MAEDA Yasuo Osaka University, Graduate School of Economics, Professor, 大学院・経済学研究科, 教授 (60229317)
SHIBATA Akihisa Kyoto University, Institute of Economic Research, Associate Professor, 経済学研究所, 助教授 (00216003)
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| Project Period (FY) |
1999 – 2001
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| Keywords | Growth / Patent / Government Bonds / Taxation / Capital Accumulation / Trade Union / Unemployment / Environment |
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| Research Abstract |
We have had Macroeconomics Workshop 23 times from April 1999 to December 2001 and invited many researchers who are active in this field. Investigators who have taken a part of this project have been benefited from these researchers through the workshop.
It is agreed that fiscal policies should not be used for the stabilizing policies frequently, for example, for reducing the unemployment level but should be used for internalizing market failures. We have reached the following conclusion: Monetary policies should be used to stabilize the economy.
As for the labor market, it is shown that the larger retirement money the higher the cost of unemployment according to the worker discipline model. It is also shown that how long workers can get unemployment benefits is very important for unemployment policies.
We have come to conclude that coordination of expectation is very important. Failures of coordination may lead to low levels of employment and output. However, we have not had good policy recommendations in this respect until now. This is a promising subject for future researches.
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