| 研究課題/領域番号 |
23K01457
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| 研究種目 |
基盤研究(C)
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| 配分区分 | 基金 |
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| 応募区分 | 一般 |
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| 審査区分 |
小区分07060:金融およびファイナンス関連
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| 研究機関 | 早稲田大学 |
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研究代表者 |
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| 研究期間 (年度) |
2023-04-01 – 2026-03-31
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| 研究課題ステータス |
交付 (2023年度)
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| 配分額 *注記 |
3,510千円 (直接経費: 2,700千円、間接経費: 810千円)
2025年度: 1,040千円 (直接経費: 800千円、間接経費: 240千円)
2024年度: 910千円 (直接経費: 700千円、間接経費: 210千円)
2023年度: 1,560千円 (直接経費: 1,200千円、間接経費: 360千円)
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| キーワード | physical investment / monetary shock / transmission mecahnism / interest rate / differential / R&D investment / system GMM / panel data |
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| 研究開始時の研究の概要 |
The present research will analyze the effects of various variables on physical and R&D investment of Japanese firms. The variables will include firm-level variables such as Tobin’s q and also macro and policy variables such as exchange rate and special loans.
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| 研究実績の概要 |
The transmission mechanism of Japanese monetary shock: what is the trigger: The reserach analyzed the transmission mechanism of monetary shocks in Japan using the factor-agumented VAR. The period of data overed is 2004Q1~2022Q4 and more than 200 macro level variables are included in the empirical analysis. The empirical results shows that the Japan-US interest differential was the trigger of the movements of Japanese macroeconomic variables such as physical investment, industrial production index, and employment. A bigger gap of the differential depreciated the yen after several month, and increases corporate profitability. It results in more investment and lower unemployment rate.
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| 現在までの達成度 (区分) |
現在までの達成度 (区分)
2: おおむね順調に進展している
理由
The draft of the first paper will be soon comleted, and it will be presented at the Korean Economic Review International Confernece, on JUne 18-19, 2024.
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| 今後の研究の推進方策 |
The first paper will be revised after it is presented in the Korea Economic Review Conference and will be submitted to a journal. The empirical analysis of the second paper which will analyze the determinants of physical investment of Japanese corporates with firm level micro data will start as soon as the first paper is submitted.
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