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.

该研究项目调查了不完美市场的经济体的动态行为。它还研究了动态，不完善的市场经济的政策影响。更具体地说，我们的研究重点是以下问题：（1）平衡的不确定性：我们通过使用比现有文献使用的更多通用模型来研究货币和开放市场经济体中的不确定性。由于我们的概括，我们获得了有关市场经济不完美的不确定性来源的几个新发现。（2）动态效率低下，调查了通过使用代表性和重叠的几代模型，调查具有不完善市场的经济效率的动态效率低下问题。在代表代理框架中，我们考虑净国民产品在存在生产外部性时如何成为确切的福利措施。在OLG模型中，我们考虑了信息不对称和投资妊娠滞后对动态平衡表征的影响。（3）政策效应研究了与市场不完美的动态经济体中各种政策效应。我们研究的具体主题是：财政缺陷，商品税，信用政策和人口结构。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中的政策制定有关的几种含义，上面列出的研究成果已在12篇论文中总结了，所有这些论文均已在驳回期刊上发表或接受。