Theoretical and Empirical Analysis of Policymaker's Behavior

2014 Fiscal Year Final Research Report

• Project/Area Number: 24653046
• Research Category: Grant-in-Aid for Challenging Exploratory Research
• Allocation Type: Multi-year Fund
• Research Field: Economic theory
• Research Institution: The University of Tokyo
• Principal Investigator: FUKUDA Shinichi 東京大学, 経済学研究科(研究院), 教授 (00221531)
• Project Period (FY): 2012-04-01 – 2015-03-31
• Keywords: 金融政策 / 財政政策 / 政府の行動原理

Outline of Final Research Achievements

In 21st century, there are growing interests in the role of government. The purpose of this project is to explore what factors determine government's economic policy. A new feature in the project is that we assume that the government is one of the decision-making economic agents and investigate how the economic agent makes his or her decision. In particular, we examined why the fiscal policy tends to be aggressive, while the monetary policy tends to be passive in actual policy makings. We constructed theoretical models that describe the behavior of policymakers and tested the hypothesis empirically. We also discussed under what circumstances the government policy becomes socially desirable.

Free Research Field

経済理論