2012 Fiscal Year Final Research Report
Human capital accumulation and a policy implicatiaon under credit
| Project/Area Number |
21730153
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
Economic theory
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| Research Institution | Waseda University (2011-2012)
Tokyo Institute of Technology (2009-2010) |
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Principal Investigator |
KANEKO Akihiko 早稲田大学, 政治経済学術院, 准教授 (10282873)
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| Project Period (FY) |
2009 – 2012
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| Keywords | 貨幣動学モデル |
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| Research Abstract |
In this research, taking crediti constraint implication into account, we examined the effects of income tax and monetary financing within the money-in-the-production-function model, where real money balances are an input into the production process. We found that the financing of a given level of government spending with income taxes or monetary expansion induces multiple balanced growth paths (BGPs) and global indeterminacy. Moreover, in case of tax on asset and monetary expansion, we investigated the property of the balanced growth equilibrium.
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