2010 Fiscal Year Final Research Report
Macroeconomic Dynamics with Heterogeneous Agents
| Project/Area Number |
20530154
|
|---|
| Research Category |
Grant-in-Aid for Scientific Research (C)
|
| Allocation Type | Single-year Grants |
|---|
| Section | 一般 |
|---|
| Research Field |
Economic theory
|
|---|
| Research Institution | Osaka University |
|---|
Principal Investigator |
MINO Kazuo Osaka University, 経済研究所, 教授 (00116675)
|
|---|
| Project Period (FY) |
2008 – 2010
|
| Keywords | 家計の異質性 / 資産分配 / 経済成長 / 消費の外部性 / 均衡の決定性 |
|---|
| Research Abstract |
The representative agent model still plays a dominant role in macroeconomic analysis. In this research project we explorers various models of macroeconomic dynamics in which there are heterogeneous households. More specifically, we have studies the following issues : (1) the role of intergenerational consumption externalities in overlapping generations economies ; (2) the effects of consumption externalities on long-run wealth distribution in an economy in which households may hold different levels wealth ; (3) the effects of fiscal and monetary policies in growing economies with heterogeneous households ; and (4) behaviors of two-country dynamic model where each country may have heterogeneous preferences and/or technologies. In each topic, we have confirmed that heterogeneity of agents may produces significant outcomes that cannot be obtained in the representative agent settings.
|
