2016 Fiscal Year Final Research Report
A study of the specific futures and limitations of U.S. economic recovery from the global financial and economic crisis
| Project/Area Number |
26380327
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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 policy
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| Research Institution | Hosei University |
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Principal Investigator |
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| Project Period (FY) |
2014-04-01 – 2017-03-31
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| Keywords | アメリカ経済の回復過程 / グロ－バル金融危機・経済危機 / グローバル成長連関 / 量的緩和 / 出口戦略 / 国内成長連関 / 財政制約 / グローバル・シティ |
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| Outline of Final Research Achievements |
The research outcomes are summarized in the following two points.(1)U.S. economy has followed a slow recovery trajectory under the severe fiscal restraints caused by emergency spending. I has been mainly supported by the extraordinary Quantitative Easing by the Fed(QE1-3). It has barely sustained the global economic growth nexus, substituting the malfunctioned private financial sectors. Many economic indicators have almost recovered pre-crisis level, including GDP, employment, stock prices, as well as major corporate profit and automobile sales, etc. However, (2)in the medium-term, it includes dilemma between contradictory directions of a reconstruction of a domestic economic growth nexus, centering in manufacturing and infrastructure investments, and a promotion of the global economic growth nexus. 2016 presidential election, centering in Trump phenomenon, broadly reflected such dilemma. President Trump's policy package inevitably includes many contradictory policies each other.
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| Free Research Field |
理論経済学、アメリカ経済論、グローバル経済論
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