2011 Fiscal Year Final Research Report
Medium Term Business Cycles and Income Distribution in Japan and the U. S.
| Project/Area Number |
21730165
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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 | Kwansei Gakuin University |
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Principal Investigator |
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| Project Period (FY) |
2009 – 2011
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| Keywords | マクロ経済学 / 中期的景気循環 / 所得格差 / 技術伝播 |
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| Research Abstract |
This research considers macroeconomic fluctuations(e. g. income and income inequality) in a medium run and analyzes factors which cause the fluctuations in Japan and the U. S. The research consists of two kinds of studies. First, the research considers the dynamics of savings which is a major factor of income inequality. The study finds out that income expectation affects saving behavior. It shows that an increase in expected income decreases a saving rate. Second, the research builds a multi-country macroeconomic model and simulate the model to analyze how a shock in one country affect another country. The study shows that changes U. S. R & D investment can greatly explain Japan's medium-run fluctuations.
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