SIHS SEMINAR Series
SIHS SEMINAR Series
2025年12月4日(木) December 4 (Thu.), 2025 5:20PM-6:50PM
報告者/Presenter: 庄野 嘉恒/Yoshihisa Shono (RIETI)
Title: Marketization, Structural Change, and Business Cycle Volatility
場所：2号館11階経済学部会議室B
Venue: 11th Floor, Bldg. No.2 Meeting Room B
幹事/Organizer：長谷部拓也/Takuya Hasebe
言語/Language：英語/English
要旨/Abstract:
I construct a three-sector general equilibrium model consisting of a goods sector, a service sector, and home production to examine how the home production share affects business cycle volatility. Under a standard CES specification, I show that a decline in the home production share dampens business cycle volatility through two channels: the home production share channel and the market composition channel. The calibrated model predicts that overall structural change accounts for 40% of the decline in U.S. business cycle volatility after WWII, and that 30% of the impact of overall structural change is attributed to the reduction in the home production share.
SIHSセミナーは、上智大学・人間の安全保障研究所 (SIHS) が主催するオープンな学術セミナーです。学内・学外を問わず、興味のある研究者・院生・学生の方はお気軽にご参加ください。The SIHS Seminar series is hosted by Sophia Institute for Human Security (SIHS). Our academic seminar series is open to anyone who is interested; all researchers, graduate students, and undergrad students are welcome. Feel free to participate if you are interested.