• Search Research Projects
  • Search Researchers
  • How to Use
  1. Back to previous page

Political Economy of Capital Taxation and Intergenerational Redistribution

Research Project

Project/Area Number 18K01650
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 07050:Public economics and labor economics-related
Research InstitutionOsaka University

Principal Investigator

Ono Tetsuo  大阪大学, 経済学研究科, 教授 (50305661)

Co-Investigator(Kenkyū-buntansha) 内田 雄貴  成蹊大学, 経済学部, 准教授 (30805495)
Project Period (FY) 2018-04-01 – 2022-03-31
Project Status Completed (Fiscal Year 2021)
Budget Amount *help
¥4,030,000 (Direct Cost: ¥3,100,000、Indirect Cost: ¥930,000)
Fiscal Year 2020: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2019: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2018: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Keywords世代間対立 / 公債上限 / 公教育 / 経済成長 / 世代間厚生 / 政治経済学 / 支出下限制約 / 確率的投票 / 公債シーリング / 財政ルール / 資本課税 / 世代重複モデル / 確率投票 / 世代間公平性 / 資本所得税 / 労働所得税 / 世代間配分 / 公債 / 投票
Outline of Final Research Achievements

We first consider the politics of public education and its impact on economic growth and welfare across generations. We employ probabilistic voting to demonstrate the generational conflict regarding taxes and spending and show that aging shifts the tax burden from the retired to the working generation, reduces public education spending, and ultimately slows economic growth. We subsequently consider a legal constraint that aims to boost education spending: a spending floor for education. We show that this constraint stimulates economic growth but creates a trade-off between current and future generations’ welfare. Second, we analyze the effects of a debt ceiling on a government's policy formation and its impact on growth and welfare. The results show that the debt ceiling induces the government to shift the tax burdens from the older to younger generations, but stimulates physical capital accumulation and may increase public education expenditure, resulting in a higher growth rate.

Academic Significance and Societal Importance of the Research Achievements

第一の結果の日本経済に対する政策的願意は以下の通りである。歳出下限制約の導入は、日本の公的教育支出を増やすことで経済成長を促進するが、同時にそのような便益は、現在生きている老年世代を犠牲にすることで、将来世代にもたらされる。したがって、政策立案者が歳出下限制約やそれに類する政策を決定する際には、効用という点で世代間のトレードオフが生じることを念頭に置く必要がある。また,第二の結果は、債務上限額の引き下げによる成長促進効果を通じて将来世代が恩恵を受ける一方で、税負担が増加する現世代が犠牲になることを示しており、パレート改善がもたらされない点に留意する必要がある。

Report

(5 results)
  • 2021 Annual Research Report   Final Research Report ( PDF )
  • 2020 Research-status Report
  • 2019 Research-status Report
  • 2018 Research-status Report
  • Research Products

    (8 results)

All 2021 2020 2019 2018

All Journal Article (7 results) (of which Peer Reviewed: 7 results,  Open Access: 1 results) Presentation (1 results)

  • [Journal Article] Generational conflict and education politics: Implications for growth and welfare2021

    • Author(s)
      Uchida Yuki、Ono Tetsuo
    • Journal Title

      Journal of Macroeconomics

      Volume: 69 Pages: 103315-103315

    • DOI

      10.1016/j.jmacro.2021.103315

    • Related Report
      2021 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Political economy of taxation, debt ceilings, and growth2020

    • Author(s)
      Uchida Yuki、Ono Tetsuo
    • Journal Title

      European Journal of Political Economy

      Volume: forthcoming Pages: 101996-101996

    • DOI

      10.1016/j.ejpoleco.2020.101996

    • Related Report
      2020 Research-status Report
    • Peer Reviewed / Open Access
  • [Journal Article] Fiscal Rules in a Monetary Economy: Implications for Growth and Welfare2020

    • Author(s)
      Tetsuo Ono
    • Journal Title

      Journal of Public Economic Theory

      Volume: 22 Issue: 1 Pages: 191-219

    • DOI

      10.1111/jpet.12389

    • Related Report
      2019 Research-status Report
    • Peer Reviewed
  • [Journal Article] Inequality and Education Choice2019

    • Author(s)
      Yuki Uchida, Tetsuo Ono
    • Journal Title

      International Tax and Public Finance

      Volume: forthcoming Issue: 4 Pages: 1-39

    • DOI

      10.1007/s10797-019-09584-3

    • Related Report
      2019 Research-status Report
    • Peer Reviewed
  • [Journal Article] Growth, Unemployment, and Fiscal Policy: A Political Economy Analysis2018

    • Author(s)
      Tetsuo Ono
    • Journal Title

      Macroeconomic Dynamics

      Volume: forthcoming Issue: 8 Pages: 1-41

    • DOI

      10.1017/s1365100517001067

    • Related Report
      2019 Research-status Report
    • Peer Reviewed
  • [Journal Article] Intergenerational policies, public debt, and economic growth: A politico-economic analysis2018

    • Author(s)
      Arai Real、Naito Katsuyuki、Ono Tetsuo
    • Journal Title

      Journal of Public Economics

      Volume: 166 Pages: 39-52

    • DOI

      10.1016/j.jpubeco.2018.08.006

    • Related Report
      2018 Research-status Report
    • Peer Reviewed
  • [Journal Article] Human capital, public debt, and economic growth: A political economy analysis2018

    • Author(s)
      Ono Tetsuo、Uchida Yuki
    • Journal Title

      Journal of Macroeconomics

      Volume: 57 Pages: 1-14

    • DOI

      10.1016/j.jmacro.2018.03.003

    • Related Report
      2018 Research-status Report
    • Peer Reviewed
  • [Presentation] Capital income taxation, economic growth, and the politics of public education2018

    • Author(s)
      Yuki Uchida
    • Organizer
      青山学院大学理論政策ワークショップ
    • Related Report
      2018 Research-status Report

URL: 

Published: 2018-04-23   Modified: 2023-01-30  

Information User Guide FAQ News Terms of Use Attribution of KAKENHI

Powered by NII kakenhi