2010 Fiscal Year Final Research Report
| Project/Area Number |
19530148
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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 |
Economic theory
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| Research Institution | The University of Tokyo |
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Principal Investigator |
KAMIYA Kazuya The University of Tokyo, 大学院・経済学研究科, 教授 (50201439)
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| Project Period (FY) |
2007 – 2010
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| Keywords | 貨幣的均衡 / オークション / ワルラス均衡 |
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| Research Abstract |
I investigated monetary equilibria and obtained the following results :
1. I presented several models with indeterminate equilibria. Moreover, I presented the logic behind the indeterminacy.
2. I presented a policy which leads the economy to an efficient allocation, when the monetary equilibria are indeterminate.
3. I analyzed the effect of choice of market institutions, e.g., an auction market or a Walrasian market, on the welfare of the economy.
4. I presented a fundamental method to prove the existence of equilibria in random matching models, such as monetary search models and labor search models, and analyzed the global structure of the set of equilibria. Moreover, I investigated equilibrium dynamics in cash-in-advance models.
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