Growth and Cycles in Economies with Imperfect Markets

市场不完善经济体的增长和周期

基本信息

批准号：
14530010
负责人：
MINO Kazuo
金额：
$ 1.73万
依托单位：
Kobe University
依托单位国家：
日本
项目类别：
Grant-in-Aid for Scientific Research (C)
财政年份：
2002
资助国家：
日本
起止时间：
2002 至 2003
项目状态：
已结题

项目摘要

This research project investigates dynamic behaviors of economies with imperfect markets. It also studies policy effects in dynamic, imperfect market economies. More specifically, our research focuses on the following issues :(1) Indeterminacy of equilibrium :We studies indeterminacy in monetary as well as open-market economies by using more general models than those used by the existing literature. Due to our the generalization, we obtain several new findings about the sources of indeterminacy in imperfect market economies.(2) Dynamic inefficiencyWe investigate the issue of dynamic inefficiency of economies with imperfect market by using both the representative as well as the overlapping generations models. In the representative agent framework, we consider how net national product fails to be a precise welfare measure when there are production externalities. In the OLG models, we consider the effects of information asymmetry and investment gestation lags on the characterization of dynamic equilibrium.(3) Policy effectsWe examine various policy effects in dynamic economies with market imperfection. Specific topics we investigate are : fiscal deficits, commodity taxation, credit policy and demographic structure. Those studies apply the analytical frameworks studied in (1) and (2), and derive several implications that would be relevant for policy making in the Japanese economyThe research outcomes listed above have been summarized in 12 papers, all of which have been published or accepted for publication in the refereed journals.

该研究项目调查市场不完善的经济体的动态行为。它还研究动态的、不完善的市场经济中的政策效果。更具体地说，我们的研究重点关注以下问题：（1）均衡的不确定性：我们使用比现有文献更通用的模型来研究货币经济和开放市场经济的不确定性。由于我们的推广，我们获得了关于不完善市场经济的不确定性来源的一些新发现。（2）动态无效率我们通过使用代表性模型和重叠代模型研究了不完善市场经济体的动态无效率问题。在代表代理框架中，我们考虑当存在生产外部性时，国民生产净值如何无法成为精确的福利衡量标准。在OLG模型中，我们考虑了信息不对称和投资酝酿滞后对动态均衡表征的影响。(3)政策效应我们考察了市场不完善的动态经济体中的各种政策效应。我们调查的具体主题是：财政赤字、商品税收、信贷政策和人口结构。这些研究应用了（1）和（2）中研究的分析框架，并得出了与日本经济政策制定相关的若干含义。上述研究成果已总结为 12 篇论文，所有论文均已发表或接受以便在参考期刊上发表。