| 研究実績の概要 |
At this point we have three papers that came out as part of this research project: (1) “Grounded by Gravity: A Well-Behaved Trade Model with External Economies”, (2) “Necessary and Sufficient Conditions for Uniqueness in Spatial Equilibria: The Case of Two Locations”, and (3) “A Unified Model of International Business Cycles and Trade”.
Last year we finished work on paper (1) and submitted it to a top-field journal. This paper is under review right now. After that we wrote paper (2) and submitted it as well. It is also under review right now.
Most of the last year we intensely worked on paper (3) that is an extension of ideas from paper (1) to a dynamic environment. We now have a draft of paper (3) and it was presented at multiple universities and conferences the past year. Among the universities where our paper was presented are UC Berkeley, Columbia University, University of Wisconsin-Maddison, and others. Among the many conferences where our paper was presented the most important one is the NBER Summer Institute in Boston. NBER Summer Institute is a very selective conference. I personally presented paper (3), and my talk was attended by more than 200 economists. The audience included a lot of leading researchers from the fields of international economics from world’s top institutions. The discussant for the paper was Professor Arnaud Costinot of Massachusetts Institute of Technology, who is one of world’s top researchers in the field of international trade. Professor Costinot gave a positive discussion of our paper.
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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
We have tried submitting paper (1) in three top-5 economic journals (Quarterly Journal of Economics, Journal of Political Economy, and Review of Economic Studies) and got rejections everywhere. One the main reasons for rejections was that we do not have a proof of uniqueness of equilibrium of our model in the most general case. At the same time, we received an open referee report from Professor Gene Grossman of Princeton University, who praised our paper and was supportive of our research agenda. In the past year, we intensely worked on proving uniqueness of our model in the most general case, but we did not succeed. Therefore, after doing additional empirical work, we decided to submit our paper (1) to a top field journal.
So, we moved our focus on work on paper (3).
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| 今後の研究の推進方策 |
During the third year of our project we plan to work on paper (3): we plan to finish estimating the model, and prepare a draft for submission. In the draft we will incorporate all the feedback that we received at presentations. In addition to that, we plan to start working on one additional paper that would develop ideas from paper (3) even further. Specifically, we would like to write a version of the environment presented in paper (3) that incorporates economic growth (and not just business cycles as it is the case right now with paper (3)).
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