2012 Fiscal Year Final Research Report
Dynamic Analysis of Non-market Sector in Growth Models
| Project/Area Number |
22530173
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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 | Tohoku University |
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Principal Investigator |
HU Yunfang 東北大学, 大学院・国際文化研究科, 准教授 (30379466)
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| Co-Investigator(Kenkyū-buntansha) |
MINO Kazuo 京都大学, 経済研究所, 教授 (00116675)
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| Project Period (FY) |
2010 – 2012
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| Keywords | マクロ経済学 / 国際経済学 |
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| Research Abstract |
Production activities within households are substantial. In discussing the resource allocation between sectors and/or the effects of macroeconomic policies, it is important to incorporate the nonmarket home production activities. Building several growth models with nonmarket home production, we examine the model dynamics and long- and short-run policy impacts, such as, fiscal policies, on factor allocation, capital formation and current account. The main purpose is to elucidate the role nonmarket home production played in macro economies under closed and open economy environments. It is shown that both distortionary policies and the rate of substitution between market and home goods affect the dynamic behavior of the economy. As a result, introducing home production may alterthe effects of fiscal shocks on the key variables.
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Research Products
(13 results)
