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Macroeconomic effects of public investment in the aftermath of a large natural disaster

Research Project

Project/Area Number 24530293
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Research Field Economic policy
Research InstitutionHitotsubashi University

Principal Investigator

SHIOJI Etsuro  一橋大学, 大学院経済学研究科, 教授 (50301180)

Project Period (FY) 2012-04-01 – 2015-03-31
Project Status Completed (Fiscal Year 2014)
Budget Amount *help
¥2,340,000 (Direct Cost: ¥1,800,000、Indirect Cost: ¥540,000)
Fiscal Year 2014: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2013: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2012: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Keywords経済政策 / 財政政策 / 時系列分析 / 予想形成 / 株式市場 / ニュース分析 / 災害 / マクロ経済学 / 政策アナウンス / 経済成長 / 計量経済学 / 動学的一般均衡モデル
Outline of Final Research Achievements

This project has aimed to evaluate the macroeconomic impacts of public investment in Japan. This is important because the nation has historically spent relatively large amounts of its resources on building infrastructure. A unique feature of this research is its focus on the policy effects in the aftermath of a large event, such as a massive destruction of public capital by an earthquake. Most notable achievements are the following three. (1) I have built a new theoretical model to show that, under certain conditions, the policy impact tends to be strengthened after a large natural disaster. (2) I have developed a new econometric approach and shown that, indeed, the policy effects have become stronger in recent years in Japan. (3) People's expectation about the future course of policy is likely to change after a large event, and it is important to take this into account when analyzing data. I have developed a novel methodology which allows me to do that.

Report

(4 results)
  • 2014 Annual Research Report   Final Research Report ( PDF )
  • 2013 Research-status Report
  • 2012 Research-status Report
  • Research Products

    (41 results)

All 2015 2014 2013 2012 Other

All Journal Article (9 results) (of which Open Access: 2 results,  Acknowledgement Compliant: 1 results,  Peer Reviewed: 3 results) Presentation (28 results) (of which Invited: 2 results) Book (3 results) Remarks (1 results)

  • [Journal Article] Productivity, Demand and Inter-Sectoral Labor Allocation in Japan2015

    • Author(s)
      Etsuro Shioji
    • Journal Title

      Japan Labor Review

      Volume: 12(2) Pages: 65-85

    • NAID

      40019891934

    • Related Report
      2014 Annual Research Report
    • Open Access
  • [Journal Article] Time Varying Pass-Through: Will the Yen Depreciation Help Japan Hit the Inflation Target?"2015

    • Author(s)
      Etsuro Shioji
    • Journal Title

      TCER Working Paper Series

      Volume: E-92 Pages: 1-26

    • NAID

      210000172938

    • Related Report
      2014 Annual Research Report
    • Open Access / Acknowledgement Compliant
  • [Journal Article] 第1の矢:大胆な金融政策-予想は変えられるか?2014

    • Author(s)
      塩路悦朗
    • Journal Title

      Eco-Forum

      Volume: 30 Pages: 10-17

    • Related Report
      2014 Annual Research Report
  • [Journal Article] 異次元の金融政策2014

    • Author(s)
      塩路悦朗
    • Journal Title

      日経研月報

      Volume: 436 Pages: 16-25

    • Related Report
      2014 Annual Research Report
  • [Journal Article] A Pass-through Revival2014

    • Author(s)
      Etsuro Shioji
    • Journal Title

      Asian Economic Policy Review

      Volume: 9 Issue: 1 Pages: 120-138

    • DOI

      10.1111/aepr.12053

    • Related Report
      2013 Research-status Report
    • Peer Reviewed
  • [Journal Article] 生産性要因, 需要要因と日本の産業間労働配分2013

    • Author(s)
      塩路悦朗
    • Journal Title

      日本労働研究雑誌

      Volume: 55(12) Pages: 37-49

    • Related Report
      2013 Research-status Report
  • [Journal Article] The Evolution of the Exchange Rate Pass-Through in Japan: A Re-evaluation Based on Time-Varying Parameter VARs2012

    • Author(s)
      Etsuro Shioji
    • Journal Title

      Public Policy Review

      Volume: 8 Pages: 67-92

    • Related Report
      2012 Research-status Report
    • Peer Reviewed
  • [Journal Article] 資本蓄積・資本破壊と公的投資の生産性について:経済成長モデルによる検証2012

    • Author(s)
      塩路悦朗
    • Journal Title

      大垣 昌夫・小西 秀樹・田渕 隆俊・ 小川 一夫編『現代経済学の潮流2012』東洋経済新報社(図書所収論文)

      Volume: - Pages: 93-116

    • Related Report
      2012 Research-status Report
    • Peer Reviewed
  • [Journal Article] 非伝統的金融政策の評価:パネル討論II2012

    • Author(s)
      塩路悦朗・雨宮正佳・岩本康志・植田和男・本多佑三
    • Journal Title

      大垣 昌夫・小西 秀樹・田渕 隆俊・ 小川 一夫編『現代経済学の潮流2012』東洋経済新報社(図書所収論文)

      Volume: - Pages: 193-235

    • Related Report
      2012 Research-status Report
  • [Presentation] ゼロ金利下における日本の信用創造2015

    • Author(s)
      塩路悦朗
    • Organizer
      日本経済学会2015年度春季大会
    • Place of Presentation
      新潟大学(新潟市、新潟県)
    • Year and Date
      2015-05-23
    • Related Report
      2014 Annual Research Report
    • Invited
  • [Presentation] Construction of stock-market based daily index of fiscal news for Japan2015

    • Author(s)
      Etsuro Shioji
    • Organizer
      Japan Economic Seminar
    • Place of Presentation
      コロンビア大学(ニューヨーク、米国)
    • Year and Date
      2015-02-20
    • Related Report
      2014 Annual Research Report
  • [Presentation] 財政政策に関する日次指標の構築2014

    • Author(s)
      塩路悦朗
    • Organizer
      関西マクロ研究会
    • Place of Presentation
      大阪大学中之島センター(大阪市、大阪府)
    • Year and Date
      2014-12-19
    • Related Report
      2014 Annual Research Report
  • [Presentation] 財政政策に関する日次指標の構築2014

    • Author(s)
      塩路悦朗
    • Organizer
      IISS ワークショップ / RIEB 政策研究ワークショップ 「マクロ財政・金融政策効果の実証的評価」
    • Place of Presentation
      神戸大学(神戸市、兵庫県)
    • Year and Date
      2014-10-25
    • Related Report
      2014 Annual Research Report
    • Invited
  • [Presentation] Construction of stock-market based daily index of fiscal news for Japan2014

    • Author(s)
      塩路悦朗
    • Organizer
      日本経済学会2014年度秋季大会
    • Place of Presentation
      西南学院大学(福岡市、福岡県)
    • Year and Date
      2014-10-12
    • Related Report
      2014 Annual Research Report
  • [Presentation] Time varying pass-through: will the yen depreciation help Japan hit the inflation target?2014

    • Author(s)
      Etsuro Shioji
    • Organizer
      Econometric Society European Meeting
    • Place of Presentation
      トゥールーズ第1大学(トゥールーズ、フランス)
    • Year and Date
      2014-08-27
    • Related Report
      2014 Annual Research Report
  • [Presentation] Construction of stock-market based daily index of fiscal news for Japan2014

    • Author(s)
      塩路悦朗
    • Organizer
      東京大学マクロ経済学ワークショップ
    • Place of Presentation
      東京大学本郷キャンパス(文京区、東京都)
    • Year and Date
      2014-05-08
    • Related Report
      2014 Annual Research Report
  • [Presentation] Time varying pass-through: will the yen depreciation help Japan hit the inflation target?2014

    • Author(s)
      Etsuro Shioji
    • Organizer
      22nd Symposium of the Society for Nonlinear Dynamics and Econometrics
    • Place of Presentation
      City University of New York, Baruch College(ニューヨーク、米国)
    • Year and Date
      2014-04-18
    • Related Report
      2014 Annual Research Report
  • [Presentation] Exchange rate and prices in a dynamic two country model of bilateral oligopoly

    • Author(s)
      塩路悦朗
    • Organizer
      日本経済学会2013年度春季大会
    • Place of Presentation
      富山大学
    • Related Report
      2013 Research-status Report
  • [Presentation] Time varying effects of public investment and a Stone‐Geary production technology

    • Author(s)
      Etsuro Shioji
    • Organizer
      Association for Public Economic Theory
    • Place of Presentation
      リスボン・カトリック大学(ポルトガル)
    • Related Report
      2013 Research-status Report
  • [Presentation] A pass-through revival

    • Author(s)
      Etsuro Shioji
    • Organizer
      Asian Economic Policy Review Conference
    • Place of Presentation
      日経ビル(東京)
    • Related Report
      2013 Research-status Report
  • [Presentation] Time varying effects of public investment and a Stone‐Geary production technology

    • Author(s)
      Etsuro Shioji
    • Organizer
      Econometric Society European Meeting
    • Place of Presentation
      イエテボリ大学(スウェーデン)
    • Related Report
      2013 Research-status Report
  • [Presentation] Time varying pass-through: Will the yen depreciation help Japan hit the inflation target?

    • Author(s)
      塩路悦朗
    • Organizer
      日本経済学会2013年度秋季大会
    • Place of Presentation
      神奈川大学
    • Related Report
      2013 Research-status Report
  • [Presentation] Time varying pass-through: Will the yen depreciation help Japan hit the inflation target?

    • Author(s)
      塩路悦朗
    • Organizer
      日本金融学会2013年度秋季大会
    • Place of Presentation
      名古屋大学
    • Related Report
      2013 Research-status Report
  • [Presentation] Time varying pass-through: Will the yen depreciation help Japan hit the inflation target?

    • Author(s)
      Etsuro Shioji
    • Organizer
      TCER Conference on Abenomics
    • Place of Presentation
      東京大学
    • Related Report
      2013 Research-status Report
  • [Presentation] Time varying pass-through: Will the yen depreciation help Japan hit the inflation target?

    • Author(s)
      Etsuro Shioji
    • Organizer
      22nd Symposium of the Society for Nonlinear Dynamics and Econometrics
    • Place of Presentation
      Baruch College CUNY, ニューヨーク(米国)
    • Related Report
      2013 Research-status Report
  • [Presentation] Construction of stock-market based daily index of fiscal news for Japan

    • Author(s)
      塩路悦朗
    • Organizer
      東京大学マクロワークショップ
    • Place of Presentation
      東京大学
    • Related Report
      2013 Research-status Report
  • [Presentation] Pass‐through in a two country model with bilateral oligopoly

    • Author(s)
      Etsuro Shioji
    • Organizer
      Monetary economics colloquium
    • Place of Presentation
      コロンビア大学(アメリカ)
    • Related Report
      2012 Research-status Report
  • [Presentation] External Shocks and Japanese Business Cycles: Impact of the “Great Trade Collapse” on the Japanese Automobile Industry

    • Author(s)
      Etsuro Shioji
    • Organizer
      2012 Midwest Macroeconomics Meetings
    • Place of Presentation
      ノートルダム大学(アメリカ)
    • Related Report
      2012 Research-status Report
  • [Presentation] External Shocks and Japanese Business Cycles: Impact of the “Great Trade Collapse” on the Japanese Automobile Industry

    • Author(s)
      Etsuro Shioji
    • Organizer
      Midwest International Trade Conference, Spring 2012
    • Place of Presentation
      インディアナ大学(アメリカ)
    • Related Report
      2012 Research-status Report
  • [Presentation] Pass‐through in a two country model with bilateral oligopoly

    • Author(s)
      Etsuro Shioji
    • Organizer
      Federal Reserve Bank of Atlanta Seminar
    • Place of Presentation
      アトランタ連銀(アメリカ)
    • Related Report
      2012 Research-status Report
  • [Presentation] Time varying effects of public investment and a Stone-Geary production technology

    • Author(s)
      Etsuro Shioji
    • Organizer
      Indiana University Seminar
    • Place of Presentation
      インディアナ大学(アメリカ)
    • Related Report
      2012 Research-status Report
  • [Presentation] Export shares, import shares, and exchange rate pass-through

    • Author(s)
      Etsuro Shioji
    • Organizer
      International trade colloquium
    • Place of Presentation
      コロンビア大学(アメリカ)
    • Related Report
      2012 Research-status Report
  • [Presentation] Export shares, import shares, and exchange rate pass-through

    • Author(s)
      Etsuro Shioji
    • Organizer
      University of Colorado, Boullder, Seminar
    • Place of Presentation
      コロラド大学ボルダー校(アメリカ)
    • Related Report
      2012 Research-status Report
  • [Presentation] 新興国企業の台頭と為替パススルー:双方寡占モデルによる考察と時系列データによる検証

    • Author(s)
      塩路悦朗
    • Organizer
      日本経済学会2012年度秋季大会
    • Place of Presentation
      九州産業大学
    • Related Report
      2012 Research-status Report
  • [Presentation] Time Varying Pass-through: Will the Yen Depreciation Help Japan Hit the Inflation Target?

    • Author(s)
      Etsuro Shioji
    • Organizer
      5th GRIPS International Conference of Macroeconomics and Policy
    • Place of Presentation
      政策研究大学院大学
    • Related Report
      2012 Research-status Report
  • [Presentation] Time Varying Pass-through: Will the Yen Depreciation Help Japan Hit the Inflation Target?

    • Author(s)
      Etsuro Shioji
    • Organizer
      International Conference "Frontiers in Macroeconometrics"
    • Place of Presentation
      一橋大学
    • Related Report
      2012 Research-status Report
  • [Presentation] Time varying effects of public investment and a Stone-Geary production technology

    • Author(s)
      Etsuro Shioji
    • Organizer
      Western Economic Association International 10th Biennial Pacific Rim Conference
    • Place of Presentation
      慶應義塾大学
    • Related Report
      2012 Research-status Report
  • [Book] The Routledge Handbook of Major Events in Economic History (Routledge International Handbooks), Part 3, 27, “The Bubble Burst and Stagnation of Japan” (Etsuro Shioji)2013

    • Author(s)
      Randall E. Parker and Robert M. Whaples, eds
    • Total Pages
      455
    • Publisher
      Routledge
    • Related Report
      2012 Research-status Report
  • [Book] 『教養としての経済学:高校生・大学生が生き抜く力を培うために』 第2部3、「経済全体を丸ごとつかむ!マクロ経済学への誘い」(塩路悦朗)2013

    • Author(s)
      齊藤誠編著
    • Total Pages
      314
    • Publisher
      有斐閣
    • Related Report
      2012 Research-status Report
  • [Book] 『ベーシック経済学―次につながる基礎固め』2012

    • Author(s)
      古沢泰治・塩路悦朗
    • Total Pages
      476
    • Publisher
      有斐閣
    • Related Report
      2012 Research-status Report
  • [Remarks] 一橋大学機関リポジトリ

    • URL

      http://hermes-ir.lib.hit-u.ac.jp/rs/items-by-author?author=Shioji%2C+Etsuro

    • Related Report
      2012 Research-status Report

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Published: 2013-05-31   Modified: 2019-07-29  

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