2013 Fiscal Year Final Research Report
Strategic complementarities and regime shifts in economic crises: A search-theoretic approach
| Project/Area Number |
23530211
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Economic theory
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| Research Institution | Hokkaido University |
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Principal Investigator |
KUDOH Noritaka 北海道大学, 公共政策学連携研究部, 准教授 (80334598)
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| Co-Investigator(Kenkyū-buntansha) |
OYAMA Daisuke 東京大学, 大学院経済学研究科, 准教授 (00436742)
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| Project Period (FY) |
2011 – 2013
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| Keywords | サーチ理論 / 摩擦的労働市場 / グローバル化 / 所得格差 |
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| Research Abstract |
This project investigated the interaction between the product market and the labor market from the perspective of search theory, which is a new theory suitable for analyzing the economic environment in which trading opportunities are limited because of market frictions. This project studied a model in which both the product market and the labor market are imperfectly competitive, and firms are heterogeneous in terms of their productivity levels. Using the model, this project studied the impact of trade liberalization between two countries that are different in their market sizes and degrees of market frictions. The main result is that the impact of trade liberalization on a country's industrial structure depends on the relative market size and the relative market friction. This project made a prediction that a country that expands its industry as a result of trade liberalization will experience an expansion in income inequality across occupations.
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