| Project/Area Number |
17K18032
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Economic theory
Public finance/Public economy
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| Research Institution | The University of Kitakyushu |
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Principal Investigator |
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| Project Period (FY) |
2017-04-01 – 2020-03-31
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| Project Status |
Completed (Fiscal Year 2019)
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| Budget Amount *help |
¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
Fiscal Year 2019: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2018: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2017: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
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| Keywords | 年金目的消費税 / 公的年金 / 経済成長 / 所得再分配政策 / 財政の持続可能性 / 財政赤字 / 経済厚生 / 財政健全化 / 利他性 / 所得格差 |
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| Outline of Final Research Achievements |
This research investigates how unfunded public pensions financed by value added tax (VAT) affect economic growth and whether payroll tax (PT) or VAT is the more growth‐friendly tax structure for financing public pensions. Using overlapping generations models with parental altruism, we find that a public pension system financed by VAT may increase economic growth when bequests are operative. By contrast, when bequests are inoperative, public pensions hinder growth unless agents are sufficiently patient. Finally, public pensions financed by VAT are more growth‐friendly than those financed by PT.
This research also investigate the relationship between the sustainability of public debt and inequality in a growth model with heterogeneous agents. We show that an increase in the deficit ratio or the redistributive tax makes public debt less sustainable. If the economy falls into the unsustainable region as a result of the policy change, both public debt and inequality continue to increase.
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| Academic Significance and Societal Importance of the Research Achievements |
少子高齢化が進む日本や諸外国において、年金財政・財政全般についていかに持続可能にし、国民生活を安心なものにしていくかという問題は重要なテーマである。財源の安定的な確保には①経済成長により財源の基となる所得を増やしていくこと、②消費税増税などによる幅広い財源確保の在り方を考察していく必要がある。この研究では、これらの視点から年金目的消費税の経済分析を通じて、消費税は投資をゆがめにくいことがわかり、年金所得が教育や遺産を通じて若い世代への投資に回ることで経済成長を促進し安定的な財源になりうること、そして所得再分配政策と財政の持続可能性という公共経済学の問題について新たなインプリケーションが示せた。
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