2011 Fiscal Year Final Research Report
Analysis on structural changes and imbalances of the world economy
| Project/Area Number |
20530263
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Kwansei Gakuin University (2010-2011)
University of Tsukuba (2008-2009) |
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Principal Investigator |
FUJII Eiji 関西学院大学, 経済学部, 教授 (20321961)
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| Project Period (FY) |
2008 – 2011
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| Keywords | 経常収支 / 為替レート / ミスアラインメント / 不均衡 |
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| Research Abstract |
A central economic challenge that the world faces is to how to re-balance the global current account imbalance. This research analyzes the problem and related policy issues from a perspective of currency misalignment. We find that the oft-used currency misalignment estimates are not robust to modifications in methodologies, assumptions, and data revisions. Based on these, we argue that a fundamental revision is necessary to the ongoing policy discussion for resolution of the problem.
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