2022 Fiscal Year Final Research Report
Qualitative and Quantitative Analysis of Effects of Inflation on Economic Growth
| Project/Area Number |
18K01522
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Review Section |
Basic Section 07010:Economic theory-related
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| Research Institution | Chuo University (2022)
Aichi University (2020-2021)
Chukyo University (2018-2019) |
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Principal Investigator |
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| Project Period (FY) |
2018-04-01 – 2023-03-31
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| Keywords | 金融政策 / イノベーション / インフレーション / 経済成長 |
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| Outline of Final Research Achievements |
This project examines the effects of monetary policy on economic growth from theoretical and empirical perspectives. As a channel through which monetary policy affects economic growth, it focuses on not only innovation, international technology transfer, and income inequality but also relatively novel ones, such as cultural preferences of citizens and governments and business dynamism, which tackles finding a new direction in which the literature expands. The results show that monetary policies such as lowering interest rates and inflation rates may not necessarily promote technological progress and economic growth, depending on the state of the economy. These results suggest the importance of considering various economic conditions (e.g., high barriers to entry) in designing a desirable monetary policy.
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| Free Research Field |
マクロ経済学
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| Academic Significance and Societal Importance of the Research Achievements |
本プロジェクトの研究成果は, Chu and Cozzi (2014) 以来活発に研究が蓄積されている, 金融政策が技術進歩と経済成長に与える影響に関する研究分野を, さらに拡張した点に学術的な意義がある. すでに引用数が20を超える論文もあり (2023年4月4日時点, Science Direct にて確認), 経済学分野の平均的な引用数を鑑みれば, 研究成果の学術的なインパクトは小さくないといえる. また, 金融危機以降の国際的な低金利政策や, コロナ禍以降のインフレ・金利上昇など, 社会的関心が集まる金融政策に関する新たな科学的知見を提供したことは, 社会的・政策的意義があるだろう.
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