2016 Fiscal Year Final Research Report
Macroeconomic analysis of uncertainty shocks and credit shocks
| Project/Area Number |
26780119
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Economic theory
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| Research Institution | Kyoto 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 | 景気循環 / 格差 / 不確実性ショック / 信用ショック / 非完備金融市場 |
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| Outline of Final Research Achievements |
In this project, we analyzed business cycle fluctuations in an economy with heterogeneity in wealth and wages across individuals. In particular, we examined uncertainty shocks, which are changes in wage uncertainty faced by individuals. We found that uncertainty shocks have important effects on labor market fluctuations. Further, in order to analyze credit shocks, which are changes in individuals' borrowing ability, we constructed a new model by introducing individuals' asset choice into an existing model including inequality across individuals.
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| Free Research Field |
マクロ経済学
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