2018 Fiscal Year Final Research Report

Heterogeneity and variety of time preference and risk preference in international macroeconomics

Research Project

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Project/Area Number	26380388
Research Category	Grant-in-Aid for Scientific Research (C)
Allocation Type	Multi-year Fund
Section	一般
Research Field	Money/ Finance
Research Institution	Otaru University of Commerce
Principal Investigator	Hirose Ken-Ichi 小樽商科大学, 商学部, 教授 (40345450)
Project Period (FY)	2014-04-01 – 2019-03-31
Keywords	国際マクロ経済学
Outline of Final Research Achievements	This research developed international macrodynamics analyses considering heterogeneity and variety of time preference and risk preference. In the analysis of time preference, I investigated the determination of key macroeconomic variables including the current account. In the analysis of risk preference, I worked on solving various puzzles in international macroeconomics and international finance. As the results of this research, two papers have been published in peer-reviewed international journals.
Free Research Field	国際マクロ経済学
Academic Significance and Societal Importance of the Research Achievements	本研究では、時間選好およびリスク選好における異質性・多様性を国際マクロ動学分析へ導入することによって、既存研究では無視されることが多かった、国際間の時間選好の違いが経常収支等の主要マクロ経済変数の決定に与える影響を考察することが可能となった。さらに、既存研究で指摘されていた国際マクロ経済学・国際金融における各種パズルの解明への足がかりを得ることができた。