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

Mitsuhiro Okano, Daisuke Ida, Shigeto Kitano and Yoichi Matsubayashi ()
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Shigeto Kitano: Asia Pacific Institute of Research

No 1004265, APIR Discussion Paper Series from Asia Pacific Institute of Research

Abstract: 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.

Keywords: Kansai economy; Area DSGE; productivity; residential investment (search for similar items in EconPapers)
Pages: pages
Date: 2015-04
New Economics Papers: this item is included in nep-dge
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