2011 Fiscal Year Final Research Report
Macroeconomic Policy Analysis using utility function with non-constant discount factor
| Project/Area Number |
21530277
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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 |
Economic policy
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| Research Institution | Hosei University |
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Principal Investigator |
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| Co-Investigator(Kenkyū-buntansha) |
SAGARA Nobusumi 法政大学, 経済学部, 教授 (90286005)
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| Project Period (FY) |
2009 – 2011
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| Keywords | マクロモデル / 逐次効用関数 / シミュレーション |
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| Research Abstract |
We conduct a public/fiscal policy analysis using macroeconomic models with non-constant discount factors. In particular, we focused on recursive utility models, in which the discount factor is a function of utility or some aggregate macroeconomic variables including consumption and real balances. We wrote some research papers to give presentations at international academic conferences and to submit to international refereed journals. Some of them have been already published. In addition, Kenji Miyazaki edited a Japanese book including our research papers. This book, titled 'Preference and International Macroeconomics,'was published in March, 2012.
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