Event

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Bubble Cycles

開催場所:
東京大学大学院経済学研究科棟 3階 第3教室

報告者:
櫻川昌哉 氏
慶應義塾大学

要約:
We develop a simple model that explains episodes on bubbles that occurred in the past Japan and the recent United States. The basic idea is that the self-fulfilling change in the saving rate leads to bubble-induced business cycles with co-movement between bubbles and investment. We have a counter-intuitive implication of the stimulus package of fiscal expansion in the bubbly economy.

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ファイル(PDF): 資料