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Economic growth in aging society with new technology

Research Project

Project/Area Number 19H01466
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeSingle-year Grants
Section一般
Review Section Basic Section 07010:Economic theory-related
Research InstitutionThe University of Tokyo

Principal Investigator

Fukuda Shin-ichi  東京大学, 大学院経済学研究科(経済学部), 教授 (00221531)

Project Period (FY) 2019-04-01 – 2023-03-31
Project Status Completed (Fiscal Year 2023)
Budget Amount *help
¥6,890,000 (Direct Cost: ¥5,300,000、Indirect Cost: ¥1,590,000)
Fiscal Year 2022: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2021: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2020: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2019: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Keywords技術進歩 / 少子高齢化 / 人口減少 / 経済成長 / 労働人口 / 経済成長理論 / 人口成長 / イノベーション / 経済動学 / 長期停滞 / 動学的非効率 / ゾンビ企業 / デフレ / 人工知能(AI) / 賃金 / 新技術
Outline of Research at the Start

本研究の目的は、人口減少や新技術の進歩が経済成長に与える影響を理論的・実証的に分析することにある。これまでの世界経済では正の人口成長率が通常だったため、人口が減少する場合に何が起こるかを明示的に分析した先行研究は限られている。また、労働力を代替する新技術が経済成長に与える影響を考察した研究は始まったばかりである。本研究では、まず経済成長理論の枠組みを使って、人口減少下の成長メカニズムを理論的・実証的に考察する。次に、新技術が労働力を代替するモデルで、人口減少下での経済成長を考察する。労働力の減少を新技術が代替する経済には、正の側面だけでなく、さまざまな負の側面があることを解き明かしていく。

Outline of Final Research Achievements

This study analyzed the impact of population decline and technological progress on macroeconomic growth both theoretically and empirically through a reexamination of economic growth theory. The study first examined economic growth under a declining population using the framework of traditional theory, taking into account, among other things, that equilibrium tends to be a corner solution under a negative population growth rate. Second, using a model of economic growth in which new technology substitutes for labor, the study examined economic growth under a declining population. In addition, to verify the validity of these theoretical analyses, we conducted a calibration and examined their relevance to the Japanese economy. We also empirically estimated the impact of population decline and technological progress on macroeconomic variables, primarily for the Japanese economy.

Academic Significance and Societal Importance of the Research Achievements

わが国では、少子高齢化が未曽有のスピードで進行することが見込まれている。人口の急速な減少は、労働人口の面から潜在成長率を低下させるだけでなく、国内市場の縮小を通じて総需要を抑える恐れがある。しかし、これまでの研究では、少子高齢化や人口減少の進行がマクロ経済成長にいかなる影響を与えるかは、理論的にも実証的にも必ずしも自明ではない。そこで、本研究では、人口減少下での経済成長を考察すると同時に、新技術が労働力を代替する経済成長モデルを分析し、その日本経済への含意を明らかにした。

Report

(5 results)
  • 2023 Final Research Report ( PDF )
  • 2022 Annual Research Report
  • 2021 Annual Research Report
  • 2020 Annual Research Report
  • 2019 Annual Research Report
  • Research Products

    (27 results)

All 2024 2023 2021 2020 2019 Other

All Journal Article (14 results) (of which Int'l Joint Research: 1 results,  Peer Reviewed: 8 results,  Open Access: 9 results) Presentation (5 results) (of which Int'l Joint Research: 4 results,  Invited: 1 results) Book (3 results) Remarks (4 results) Funded Workshop (1 results)

  • [Journal Article] The effects of large-scale equity purchases during the coronavirus pandemic2024

    • Author(s)
      Fukuda Shin-ichi、Tanaka Mariko
    • Journal Title

      Journal of the Japanese and International Economies

      Volume: 71 Pages: 101303-101303

    • DOI

      10.1016/j.jjie.2023.101303

    • Related Report
      2022 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Spillover effects of Ruble’s turmoil on foreign exchange markets after the invasion of Ukraine2024

    • Author(s)
      Fukuda Shin-ichi
    • Journal Title

      Applied Economics

      Volume: in press Issue: 9 Pages: 1-5

    • DOI

      10.1080/00036846.2024.2311056

    • Related Report
      2022 Annual Research Report
    • Peer Reviewed
  • [Journal Article] パンデミック以降の為替レートと金融政策の役割2024

    • Author(s)
      福田慎一
    • Journal Title

      金融経済研究

      Volume: 第47号 Pages: 1-19

    • Related Report
      2022 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Exchange Rate Regimes and Economic Stability of Emerging Economies: The Role of Inflation Targeting2024

    • Author(s)
      Fukuda Shin-ichi
    • Journal Title

      Public Policy Review

      Volume: Vol.20, No.2 Pages: 1-21

    • Related Report
      2022 Annual Research Report
    • Open Access
  • [Journal Article] Evaluation of fiscal policy using alternative GDP data in Japan2023

    • Author(s)
      Fukuda Shin-ichi
    • Journal Title

      Japan and the World Economy

      Volume: 67 Pages: 101204-101204

    • DOI

      10.1016/j.japwor.2023.101204

    • Related Report
      2022 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] 新興諸国の通貨制度と経済の安定性:インフレ目標の効果に焦点を当てて2023

    • Author(s)
      福田慎一
    • Journal Title

      フィナンシャル・レビュー

      Volume: 通巻第 153 号(令和5年第3号) Pages: 241-259

    • Related Report
      2022 Annual Research Report
    • Open Access
  • [Journal Article] The aging society, savings rates, and regional flow of funds in Japan2021

    • Author(s)
      Fukuda Shin-ichi、Okumura Koki
    • Journal Title

      Journal of the Japanese and International Economies

      Volume: 62 Pages: 101165-101165

    • DOI

      10.1016/j.jjie.2021.101165

    • NAID

      210000172723

    • Related Report
      2021 Annual Research Report 2020 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Evaluation of Japan’s Macro-Fiscal Policy and its Challenges2021

    • Author(s)
      Fukuda Shin-ichi、Soma Naoto
    • Journal Title

      Public Policy Review

      Volume: 17 Pages: 1-27

    • Related Report
      2021 Annual Research Report
    • Open Access
  • [Journal Article] Regional convergence under declining population: The case of Japan2020

    • Author(s)
      Fukuda Shin-ichi、Okumura Koki
    • Journal Title

      Japan and the World Economy

      Volume: 55 Pages: 101023-101023

    • DOI

      10.1016/j.japwor.2020.101023

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Financial Spillovers in Asian Emerging Economies2020

    • Author(s)
      Fukuda Shin-ichi, Tanaka Mariko
    • Journal Title

      Asian Development Review

      Volume: 37 Issue: 1 Pages: 93-118

    • DOI

      10.1162/adev_a_00142

    • Related Report
      2020 Annual Research Report 2019 Annual Research Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] 人口減少社会・高齢化と地域間の資金フロー2020

    • Author(s)
      福田慎一
    • Journal Title

      証券アナリストジャーナル

      Volume: 第58巻第4号 Pages: 16-27

    • Related Report
      2020 Annual Research Report
  • [Journal Article] Inflation target and anchor of inflation forecasts in Japan2019

    • Author(s)
      Fukuda Shin-ichi、Soma Naoto
    • Journal Title

      Journal of the Japanese and International Economies

      Volume: - Pages: 154-170

    • DOI

      10.1016/j.jjie.2019.01.002

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Spillover Effects of Asian Financial Markets on the Global Markets2019

    • Author(s)
      Fukuda Shin-ichi、Tanaka Mariko
    • Journal Title

      Public Policy Review

      Volume: 15 Pages: 151-174

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Journal Article] The Effects of Japan’s Unconventional Monetary Policy on Asian Stock Markets2019

    • Author(s)
      Fukuda Shin-ichi
    • Journal Title

      Public Policy Review

      Volume: 15 Pages: 1-20

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Presentation] 政府債務削減と成長と分配の好循環: 新しいタイプのクラウディング・アウトの克服にむけて2023

    • Author(s)
      福田慎一
    • Organizer
      日本金融学会
    • Related Report
      2022 Annual Research Report
    • Invited
  • [Presentation] The Effects of Large-scale Equity Purchases during the Coronavirus Pandemic2021

    • Author(s)
      Shin-ichi Fukuda, Mariko Tanaka
    • Organizer
      韓国金融学会学術大会(日韓学術交流協定に基づく日本金融学会からの派遣)
    • Related Report
      2021 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Economic Geography and a Theory of International Currency: Implications from a Random Matching Model2020

    • Author(s)
      Shin-ichi Fukuda, Mariko Tanaka
    • Organizer
      International Atlantic Economic Society
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Economic Geography and a Theory of International Currency: Implications from a Random Matching Model2019

    • Author(s)
      Shin-ichi Fukuda, Mariko Tanaka
    • Organizer
      the 15th Annual Conference of the Asia-Pacific Economic Association
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Financial Spillovers in Asian Emerging Economies2019

    • Author(s)
      Shin-ichi Fukuda, Mariko Tanaka
    • Organizer
      韓国金融学会学術大会
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Book] 高まる地政学的リスクと日本経済2024

    • Author(s)
      福田慎一編
    • Publisher
      東京大学出版会
    • Related Report
      2022 Annual Research Report
  • [Book] コロナ時代の日本経済 -パンデミックが突きつけた構造的課題2021

    • Author(s)
      福田慎一
    • Total Pages
      257
    • Publisher
      東京大学出版会
    • Related Report
      2021 Annual Research Report
  • [Book] 技術進歩と日本経済2020

    • Author(s)
      福田 慎一
    • Total Pages
      296
    • Publisher
      東京大学出版会
    • ISBN
      9784130402941
    • Related Report
      2020 Annual Research Report
  • [Remarks] TRIO Conference,2024

    • URL

      https://www.nber.org/conferences/trio-conference-2024

    • Related Report
      2022 Annual Research Report
  • [Remarks] Discussion Papers CIRJE-F-1183

    • URL

      http://www.cirje.e.u-tokyo.ac.jp/research/dp/2022/2022cf1183ab.html

    • Related Report
      2021 Annual Research Report
  • [Remarks] Discussion Papers CIRJE-F-1184

    • URL

      http://www.cirje.e.u-tokyo.ac.jp/research/dp/2022/2022cf1184ab.html

    • Related Report
      2021 Annual Research Report
  • [Remarks] Discussion Papers CIRJE-F-1186

    • URL

      http://www.cirje.e.u-tokyo.ac.jp/research/dp/2022/2022cf1186ab.html

    • Related Report
      2021 Annual Research Report
  • [Funded Workshop] TRIO Conference,20242024

    • Related Report
      2022 Annual Research Report

URL: 

Published: 2019-04-18   Modified: 2025-01-30  

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