In this project, we focus on the economic (policy) uncertainty and structural change in overseas markets and theoretically and empirically study three related sub-projects. First, we examine the impacts of US-China trade war and increasing protectionism and uncertainty on international trade, investment and firms. Second, using firm-level data, we investigate the relationship between macro- and micro-level uncertainty and firm behavior including investment, employment and internationalization (both exports and FDI). Third, we analyze the structural change and impacts of trade liberalization on labor markets in major countries like the United States, China and Japan from a medium- and long-term perspective. The results are expected to provide evidence useful for the formation of economic, trade and industrial policy in Japan.
November 5, 2018 - October 31, 2020
Major Research Results
RIETI Discussion Papers
"Measuring Business-Level Expectations and Uncertainty: Survey Evidence and the COVID-19 Pandemic" (CHEN Cheng, SENGA Tatsuro and ZHANG Hongyong)
"Information Acquisition and Price Setting under Uncertainty: New Survey Evidence" (CHEN Cheng, SENGA Tatsuro, SUN Chang and ZHANG Hongyong)
"Moving Out of China? Evidence from Japanese Multinational Firms" (Changyuan LUO, Chunxiao SI and ZHANG Hongyong)