Product Turnover and Pricing Behavior under Deflation(Fostering Joint International Research)

2021 Fiscal Year Final Research Report

• Project/Area Number: 16KK0065
• Research Category: Fund for the Promotion of Joint International Research (Fostering Joint International Research)
• Allocation Type: Multi-year Fund
• Research Field: Public finance/Public economy
• Research Institution: Waseda University
• Principal Investigator: Ueda Kozo 早稲田大学, 政治経済学術院, 教授 (30708558)
• Project Period (FY): 2017 – 2021
• Keywords: 新陳代謝 / 物価指数 / 最適インフレ率 / 価格設定行動 / 企業動学 / 家庭内在庫 / 金融政策 / 中小企業政策

Outline of Final Research Achievements

The central theme of this study is "goods/firm turnover and firm pricing behavior during deflation". In order to deepen our understanding of the background of Japan's lost 30 years, I focus on the turnover of goods and firms. In terms of goods, we observe a frequent turnover of goods, while in terms of firms, it is pointed out that the rate of business openings and closings has remained low. In this analysis, I conducted theoretical and empirical analyses on the effects of turnover on prices and economic growth.

Free Research Field

マクロ経済学

Academic Significance and Societal Importance of the Research Achievements

本研究は、日本の失われた30年の背景について理解を深めることを通じて、実効性の高い政策運営へのヒントを与えることを目的とする。特に、財や企業の入れ替わりという現象が、マクロ経済環境やミクロ的な政策（企業補助金など）にどのように依存するのか、そして、物価や経済成長率にどのような影響を与えるのか、を明らかにすることで、金融政策や中小企業政策への新しい知見をもたらすことを目指す。