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On Mechanism of Macroeconomic Fluctuation under Economic Heterogeneity and Misallocation of Resources

Research Project

Project/Area Number 16H03626
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeSingle-year Grants
Section一般
Research Field Economic policy
Research InstitutionKansai University

Principal Investigator

Inaba Masaru  関西大学, 経済学部, 教授 (50611315)

Co-Investigator(Kenkyū-buntansha) 奴田原 健悟  専修大学, 経済学部, 教授 (30553672)
大津 敬介  慶應義塾大学, 商学部(三田), 准教授 (50514527)
陣内 了  一橋大学, 経済研究所, 准教授 (50765617)
高橋 修平  京都大学, 経済研究所, 准教授 (60645406)
Project Period (FY) 2016-04-01 – 2019-03-31
Project Status Completed (Fiscal Year 2018)
Budget Amount *help
¥16,510,000 (Direct Cost: ¥12,700,000、Indirect Cost: ¥3,810,000)
Fiscal Year 2018: ¥4,810,000 (Direct Cost: ¥3,700,000、Indirect Cost: ¥1,110,000)
Fiscal Year 2017: ¥5,330,000 (Direct Cost: ¥4,100,000、Indirect Cost: ¥1,230,000)
Fiscal Year 2016: ¥6,370,000 (Direct Cost: ¥4,900,000、Indirect Cost: ¥1,470,000)
Keywords経済の異質性 / ミス・アロケーション / 賃金改定の状態依存性 / スキル・プレミアム / ラッファー曲線 / 地域景気循環会計 / 金融制約 / 内生的成長理論 / 名目賃金改訂頻度の違い / 金融市場の機能不全
Outline of Final Research Achievements

The main research results are as follows. (1) We estimated a DSGE model to decompose reasons for misallocation among regions and prefectures. (2) We showed that a New Keynesian model that assumes the state dependency of wage revision has the different effect of monetary policy from the standard model. (3) We quantitatively analyzed the relationship between the tax system and the wage gap between educational backgrounds using data from Japan and the United States. (4) We theoretically analyzed the difference in the shape of the Laffer curve for labor income tax and consumption tax. (5) We theoretically analyzed the case where an ex-ante regulation taxation on bubble asset transactions is justified. (6) Using an endogenous growth model with financial constraint, we quantitatively showed that a cause of the simultaneous global recession and the subsequent slowing of the growth rate is the financial market dysfunction.

Academic Significance and Societal Importance of the Research Achievements

本研究の学術的な意義は,近年注目され始めた経済における様々な異質性に着目し,資源配分についての地域間ミス・アロケーションの要因分解,賃金改定の状態依存性と金融政策,税制と労働市場における学歴間格差の関係,税制と財政収入,金融制約と経済成長,合理的バブルに対する事前規制の効果という問題に,理論的・実証的に分析を行った点にある.また,本研究の社会的意義は,各成果において金融・財政に関する政策効果の分析により,様々な異質性が存在する経済において,学歴間格差,財政問題,金融規制に関する政策インプリケーションを提示したことにある.

Report

(4 results)
  • 2018 Annual Research Report   Final Research Report ( PDF )
  • 2017 Annual Research Report
  • 2016 Annual Research Report
  • Research Products

    (63 results)

All 2019 2018 2017 2016

All Journal Article (9 results) (of which Int'l Joint Research: 1 results,  Open Access: 6 results,  Peer Reviewed: 3 results,  Acknowledgement Compliant: 1 results) Presentation (54 results) (of which Int'l Joint Research: 22 results,  Invited: 31 results)

  • [Journal Article] Financial Frictions, Trends, and the Great Recession2019

    • Author(s)
      Pablo Guerron-Quintana and Ryo Jinnai
    • Journal Title

      Quantitative Economics

      Volume: 印刷中

    • Related Report
      2018 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Does State-Dependent Wage Setting Generate Multiple Equilibria?2018

    • Author(s)
      Shuhei Takahashi
    • Journal Title

      KIER Discussion Paper Series

      Volume: 991 Pages: 1-51

    • Related Report
      2018 Annual Research Report
    • Open Access
  • [Journal Article] Lean Against Bubble versus Clean Up After Bubble Collapses in a Rational-Bubble Model2018

    • Author(s)
      Tomohiro Hirano, Jun Aoyagi, and Masaru Inaba
    • Journal Title

      Working Paper Series

      Volume: F-87 Pages: 1-51

    • Related Report
      2018 Annual Research Report
  • [Journal Article] Why is the shape of the Laffer curve for consumption tax different from that for labor income tax?2018

    • Author(s)
      Kazuki Hiraga and Kengo Nutahara
    • Journal Title

      CIGS Working Paper Series

      Volume: 18-004E Pages: 1-16

    • Related Report
      2018 Annual Research Report
    • Open Access
  • [Journal Article] The Impact of Taxes and Transfers on Skill Premium2017

    • Author(s)
      Shuhei Takahashi and Ken Yamada
    • Journal Title

      KIER Working Papers

      Volume: 976 Pages: 1-32

    • Related Report
      2017 Annual Research Report
    • Open Access
  • [Journal Article] 景気循環理論と内生的成長理論との統合;研究動向と日本経済への適用可能性2017

    • Author(s)
      陣内 了
    • Journal Title

      経済研究

      Volume: 68 Pages: 289-302

    • NAID

      120006733392

    • Related Report
      2017 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Regional Business Cycle and Growth Features of Japan2017

    • Author(s)
      Masaru Inaba and Keisuke Otsu
    • Journal Title

      CIGS Working Paper Series

      Volume: 17-003E Pages: 1-34

    • Related Report
      2016 Annual Research Report
    • Open Access / Acknowledgement Compliant
  • [Journal Article] Regional Business Cycle and Growth Features of Japan2017

    • Author(s)
      Masaru Inaba and Keisuke Otsu
    • Journal Title

      School of Economics Discussion Paper

      Volume: 17/05 Pages: 1-34

    • Related Report
      2016 Annual Research Report
    • Open Access
  • [Journal Article] State Dependency in Price and Wage Setting2017

    • Author(s)
      Shuhei Takahashi
    • Journal Title

      International Journal of Central Banking

      Volume: 13(1) Pages: 151-189

    • Related Report
      2016 Annual Research Report
    • Peer Reviewed / Open Access
  • [Presentation] Fragility in modeling consumption tax revenue2019

    • Author(s)
      Kengo Nutahara
    • Organizer
      TG経済学研究会(東北学院大学)
    • Related Report
      2018 Annual Research Report
    • Invited
  • [Presentation] On Liquidity Shocks and Asset Prices2019

    • Author(s)
      Ryo Jinnai
    • Organizer
      日本銀行調査統計局セミナー
    • Related Report
      2018 Annual Research Report
    • Invited
  • [Presentation] On Liquidity Shocks and Asset Prices2019

    • Author(s)
      Ryo Jinnai
    • Organizer
      東北大学 現代経済学研究会
    • Related Report
      2018 Annual Research Report
    • Invited
  • [Presentation] Does State-Dependent Wage Setting Generate Multiple Equilibria?2018

    • Author(s)
      Shuhei Takahashi
    • Organizer
      Econometric Society Australasian Meeting
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Does State-Dependent Wage Setting Generate Multiple Equilibria?2018

    • Author(s)
      Shuhei Takahashi
    • Organizer
      東京学マクロ経済学ワークショップ
    • Related Report
      2018 Annual Research Report
    • Invited
  • [Presentation] Regional Growth and Business Cycle Features in Japan2018

    • Author(s)
      Masaru Inaba
    • Organizer
      International Conference on Public Economic Theory
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Fragility in modeling consumption tax revenue2018

    • Author(s)
      Kengo Nutahara
    • Organizer
      International Institute for Public Finance
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Fragility in modeling consumption tax revenue2018

    • Author(s)
      Kengo Nutahara
    • Organizer
      The 10th Biennial Conference of Hong Kong Economic Association
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Fragility in modeling consumption tax revenue2018

    • Author(s)
      Kengo Nutahara
    • Organizer
      近畿大学経済研究会
    • Related Report
      2018 Annual Research Report
    • Invited
  • [Presentation] Recurrent Bubbles and Economic Growth2018

    • Author(s)
      Ryo Jinnai
    • Organizer
      CIGS Conference on Macroeconomic Theory and Policy 2018
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Recurrent Bubbles and Economic Growth2018

    • Author(s)
      Ryo Jinnai
    • Organizer
      Expectations in Dynamic Macroeconomic Models
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Recurrent Bubbles and Economic Growth2018

    • Author(s)
      Ryo Jinnai
    • Organizer
      RIEBセミナー
    • Related Report
      2018 Annual Research Report
    • Invited
  • [Presentation] Recurrent Bubbles and Economic Growth2018

    • Author(s)
      Ryo Jinnai
    • Organizer
      China International Conference in Macroeconomics
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Recurrent Bubbles and Economic Growth2018

    • Author(s)
      Ryo Jinnai
    • Organizer
      LACEA-LAMES Annual Meeting
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Recurrent Bubbles, Economic Fluctuations, and Growth2018

    • Author(s)
      Ryo Jinnai
    • Organizer
      RIETI international workshop; long-term growth and secular stagnation
    • Related Report
      2017 Annual Research Report
  • [Presentation] Recurrent Bubbles, Economic Fluctuations, and Growth2018

    • Author(s)
      Ryo Jinnai
    • Organizer
      Pan Pacific Conference in Economic Research
    • Related Report
      2017 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Recurrent Bubbles, Economic Fluctuations, and Growth2018

    • Author(s)
      Ryo Jinnai
    • Organizer
      若手経済学者のためのマクロ経済学コンファレンス
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Recurrent Bubbles, Economic Fluctuations, and Growth2018

    • Author(s)
      Ryo Jinnai
    • Organizer
      日本経済研究センター 研究会
    • Related Report
      2017 Annual Research Report
  • [Presentation] Population aging, government policy and the postwar Japanese economy2018

    • Author(s)
      Keisuke Otsu
    • Organizer
      Symposium for the Society of Nonlinear Dynamics and Economics
    • Related Report
      2017 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Regional Business Cycle and Growth Features of Japan2017

    • Author(s)
      稲葉大
    • Organizer
      マクロ経済学研究会
    • Place of Presentation
      日本・大阪(大阪大学)
    • Year and Date
      2017-03-14
    • Related Report
      2016 Annual Research Report
    • Invited
  • [Presentation] Can the Laffer curve for consumption tax be hump-shaped?2017

    • Author(s)
      奴田原健悟
    • Organizer
      OEIO Tokyo Conference
    • Place of Presentation
      日本・東京(東京大学)
    • Year and Date
      2017-03-01
    • Related Report
      2016 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Fragility in modeling consumption tax revenue2017

    • Author(s)
      Kengo Nutahara
    • Organizer
      九州大学・経済工学リサーチワークショップ
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Fragility in modeling consumption tax revenue2017

    • Author(s)
      Kengo Nutahara
    • Organizer
      早稲田大学・マクロ研究会
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Fragility in modeling consumption tax revenue2017

    • Author(s)
      Kengo Nutahara
    • Organizer
      The Money, Macro, and Finance Conference 2017
    • Related Report
      2017 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Can the Laffer curve for consumption tax be hump-shaped?2017

    • Author(s)
      Kengo Nutahara
    • Organizer
      The 2017 Singapore Economic Review Conference
    • Related Report
      2017 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Fragility in modeling consumption tax revenue2017

    • Author(s)
      Kengo Nutahara
    • Organizer
      高知工科大学・マクロ政策研究会
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Can the Laffer curve for consumption tax be hump-shaped?2017

    • Author(s)
      Kengo Nutahara
    • Organizer
      Summer Workshop on Economic Theory 2017
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Can the Laffer curve for consumption tax be hump-shaped?2017

    • Author(s)
      Kengo Nutahara
    • Organizer
      明治大学経済学ワークショップ
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Can the Laffer curve for consumption tax be hump-shaped?2017

    • Author(s)
      Kengo Nutahara
    • Organizer
      東北大学・現代経済学研究会
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Can the Laffer curve for consumption tax be hump-shaped?2017

    • Author(s)
      Kengo Nutahara
    • Organizer
      東京大学
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] The Impact of Taxes and Transfers on Skill Premium2017

    • Author(s)
      Shuhei Takahashi
    • Organizer
      European Meeting of the Econometric Society
    • Related Report
      2017 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Recurrent Bubbles, Economic Fluctuations, and Growth2017

    • Author(s)
      Ryo Jinnai
    • Organizer
      岡山大学経済学部現代経済セミナー
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Recurrent Bubbles, Economic Fluctuations, and Growth2017

    • Author(s)
      Ryo Jinnai
    • Organizer
      Hitotsubashi-RIETI International Workshop on Real Estate and the Macro Economy
    • Related Report
      2017 Annual Research Report
  • [Presentation] Recurrent Bubbles, Economic Fluctuations, and Growth2017

    • Author(s)
      Ryo Jinnai
    • Organizer
      Frontiers in Macroeconomics and Macroeconometrics
    • Related Report
      2017 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Recurrent Bubbles, Economic Fluctuations, and Growth2017

    • Author(s)
      Ryo Jinnai
    • Organizer
      東京大学先端研セミナー
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Recurrent Bubbles, Economic Fluctuations, and Growth2017

    • Author(s)
      Ryo Jinnai
    • Organizer
      早稲田大学 現政研セミナー
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Recurrent Bubbles, Economic Fluctuations, and Growth2017

    • Author(s)
      Ryo Jinnai
    • Organizer
      Econometric Society China Meeting
    • Related Report
      2017 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Population aging, government policy and the postwar Japanese economy2017

    • Author(s)
      Keisuke Otsu
    • Organizer
      Asian Meeting of the Econometric Society
    • Related Report
      2017 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Population aging, government policy and the postwar Japanese economy2017

    • Author(s)
      Keisuke Otsu
    • Organizer
      慶応義塾大学商学会
    • Related Report
      2017 Annual Research Report
  • [Presentation] Population aging, government policy and the postwar Japanese economy2017

    • Author(s)
      Keisuke Otsu
    • Organizer
      DSGEワークショップ
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] The post-crisis slump in Europe: A business cycle accounting analysis2017

    • Author(s)
      Keisuke Otsu
    • Organizer
      慶應義塾大学経済学研究所マクロワークショップ
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Regional Business Cycle and Growth Features of Japan2017

    • Author(s)
      Masasru Inaba
    • Organizer
      東北大学現代経済学研究会
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Regional Business Cycle and Growth Features of Japan2017

    • Author(s)
      Masasru Inaba
    • Organizer
      先端研マクロ経済分析研究会
    • Related Report
      2017 Annual Research Report
    • Invited
  • [Presentation] Can the Laffer curve for consumption tax be hump-shaped?2016

    • Author(s)
      奴田原健悟
    • Organizer
      課題設定型WS (ミクロ・マクロ経済分析:理論と実証)
    • Place of Presentation
      日本・名古屋(名古屋大学)
    • Year and Date
      2016-11-30
    • Related Report
      2016 Annual Research Report
    • Invited
  • [Presentation] Financial Frictions, Trends, and the Great Recession2016

    • Author(s)
      陣内了
    • Organizer
      慶應義塾大学・マクロ経済学ワークショップ
    • Place of Presentation
      日本・東京(慶應義塾大学)
    • Year and Date
      2016-11-29
    • Related Report
      2016 Annual Research Report
    • Invited
  • [Presentation] Can the Laffer curve for consumption tax be hump-shaped?2016

    • Author(s)
      奴田原健悟
    • Organizer
      マクロ金融ワークショップ
    • Place of Presentation
      日本・東京(一橋大学)
    • Year and Date
      2016-11-15
    • Related Report
      2016 Annual Research Report
    • Invited
  • [Presentation] Financial Frictions, Trends, and the Great Recession2016

    • Author(s)
      陣内了
    • Organizer
      Growth-Macro conference
    • Place of Presentation
      スイス・ザンクトガレン
    • Year and Date
      2016-10-21
    • Related Report
      2016 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Financial Frictions, Trends, and the Great Recession2016

    • Author(s)
      陣内了
    • Organizer
      DSGE workshop
    • Place of Presentation
      日本・東京(専修大学)
    • Year and Date
      2016-10-15
    • Related Report
      2016 Annual Research Report
    • Invited
  • [Presentation] Regional Business Cycle and Growth Features of Japan2016

    • Author(s)
      稲葉大
    • Organizer
      The 48th MMF Annual Conference
    • Place of Presentation
      イギリス,バース(University of Bath)
    • Year and Date
      2016-09-07
    • Related Report
      2016 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Financial Frictions, Trends, and the Great Recession2016

    • Author(s)
      陣内了
    • Organizer
      Asian Meeting of Econometric Society
    • Place of Presentation
      日本・京都(同志社大学)
    • Year and Date
      2016-08-11
    • Related Report
      2016 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Can the Laffer curve for consumption tax be hump-shaped?2016

    • Author(s)
      奴田原健悟
    • Organizer
      The International Institute for Public Policy 2016
    • Place of Presentation
      アメリカ・レイクタホ
    • Year and Date
      2016-08-09
    • Related Report
      2016 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Financial Frictions, Trends, and the Great Recession2016

    • Author(s)
      陣内了
    • Organizer
      Hitotsubashi Summer Institute
    • Place of Presentation
      日本・国立(一橋大学)
    • Year and Date
      2016-08-05
    • Related Report
      2016 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Can the Laffer curve for consumption tax be hump-shaped?2016

    • Author(s)
      奴田原健悟
    • Organizer
      六甲フォーラム
    • Place of Presentation
      日本・神戸(神戸大学)
    • Year and Date
      2016-05-31
    • Related Report
      2016 Annual Research Report
    • Invited
  • [Presentation] Can the Laffer curve for consumption tax be hump-shaped?2016

    • Author(s)
      奴田原健悟
    • Organizer
      マクロ経済学ワークショップ
    • Place of Presentation
      日本・東京(慶應義塾大学)
    • Year and Date
      2016-05-24
    • Related Report
      2016 Annual Research Report
    • Invited

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Published: 2016-04-21   Modified: 2020-03-30  

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