神戸大学金融研究会（RIEBセミナー共催） Monetary Economics Seminar of Kobe University (Jointly supported by RIEB Seminar)
| 日時 (Date&Time) |
2013年11月2日（土）午前10時30分から (Saturday, November 2, 2013, 10:30am-) |
|---|---|
| 会場 (Place) |
神戸大学経済経営研究所 会議室（研究所新館2階） Meeting Room at RIEB (Annex, 2nd Floor) |
| 対象 (Intended Audience) |
基本的に会員制の研究会ですが、非会員で関心のある方の参加も歓迎します。 The seminar is primarily for the workshop members. But non-members are also welcome to attend. |
| 備考 (Note) |
論文のコピーは共同研究推進室にてご用意しております。 Copies of the paper are available at the Office of Promoting Research Collaboration. セミナーへ参加を希望される方はお手数ですがご氏名、ご所属、ご連絡先（メールアドレス）を開催日の1週間前までに共同研究推進室へご連絡下さい。 If you would like to attend our seminar, please email us at Office of Promoting Research Collaboration your name, affiliation and email address by a week before the workshop. |
10:30am～
| 報告者 (Speaker) |
上田 晃三 氏 (Kozo UEDA) |
|---|---|
| 所属 (Affiliation) |
早稲田大学 (Waseda University) |
| 論題 (Topic) |
"Working Less and Bargain Hunting More: Macro Implications of Sales during Japan's Lost Decades" |
| 概要 (Abstract) |
We examine macroeconomic implications of temporary sales. By focusing on the fact that the frequency of sales depends on labor market conditions and bargain hunting is time consuming, we construct a DSGE model with sales and households' endogenous bargain hunting. The model reveals that declines in hours worked during Japan's lost decades account for an actual rise in the frequency of sales and a rise in the fraction of bargain hunters. The real e ffects of monetary policy weaken, because sales prices are frequently revised and endogenous bargain hunting enhances the strategic substitutability of sales. |