2010 Fiscal Year Final Research Report
Economic Growth and Effective Demand Shortage : An Analysis of Persistent Stagnation Based on Hybrid Model
| Project/Area Number |
21830124
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| Research Category |
Grant-in-Aid for Research Activity Start-up
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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 |
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Principal Investigator |
INOUE Tomohiro Waseda University, 政治経済学術院, 助手 (90547093)
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| Project Period (FY) |
2009 – 2010
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| Keywords | DGEモデル / ニューケインジアン / ハイブリッドモデル / ベーシックインカム |
|---|
| Research Abstract |
We modeled an economy in which technological change increases productivity, while market adjustment occurs simultaneously. The steady-state output analysis in the model provides a conclusion that is instructive to policy-makers : Eliminating the output gap requires the rate of money growth to be equal to the rate of technological change ; this results in zero inflation.
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