Monetary Policy and Natural Disasters: An Extension and Simulation Analysis in the Framework of New Keynesian Macroeconomic Model


  • OKANO, Mitsuhiro

    Development of a Regional DSGE Model in Japan: Empirical Evidence of Economic Stagnation in the Kansai Economy

    Discussion Papers

    Discussion Paper » Discussion Paper

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    AUTHOR : 
    OKANO, Mitsuhiro / IDA, Daisuke


    Using a dynamic stochastic general equilibrium model, this study empirically examines Japan’s Kansai Region to ascertain causes of its long-run economic stagnation. Simulations and the empirical investigation demonstrate that stagnant private residential and equipment investments and productivity persistency are structural problems responsible for Kansai’s unique economic fluctuations.