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Inequality Analysis in a Macroeconomic Dynamic Model with the Heterogeneity of Individual Utility Functions

Research Project

Project/Area Number 19K01554
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 07010:Economic theory-related
Research InstitutionKansai University

Principal Investigator

Nakamoto Yasuhiro  関西大学, 総合情報学部, 教授 (10552200)

Co-Investigator(Kenkyū-buntansha) 三野 和雄  京都大学, 経済研究所, 特任教授 (00116675)
胡 云芳  神戸大学, 経済学研究科, 教授 (30379466)
Project Period (FY) 2019-04-01 – 2024-03-31
Project Status Completed (Fiscal Year 2023)
Budget Amount *help
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2021: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
Fiscal Year 2020: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2019: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Keywords家計の異質性 / 経済成長 / 国際貿易 / 不平等分析 / 経済主体の異質性 / 新古典派成長モデル / 貿易 / 分布関数 / 資源配分 / 構造変化 / 不平等 / 経済動学
Outline of Research at the Start

所得不平等を分析する上で、個人の異質性をモデルに反映することは重要である。そこで、本研究では、家計の効用関数の異質性が不平等に果たす役割について解明する。この課題に包括的に取り組むため、閉鎖経済モデルと、国際貿易を考慮する開放経済モデルでの国内の不平等分析を行う。開放経済モデルを扱う理由は、貿易構造が国内の所得不平等に与える効果を考慮するためである。最終的に、数値シミュレーションを実施し、財政政策の所得層ごとに異なる量的効果などを確認する。

Outline of Final Research Achievements

In this study, assuming the heterogeneity of initial capital stock held by individuals and individual utility functions, we analyze domestic and global inequality using a closed economy model and an open economy model. Specifically, in the closed economy model, we use the Ramsey model to analytically demonstrate how individuals' initial assets and risk aversion affect their capital stock. We show that a unique steady state exists. Additionally, we conduct numerical simulations using real income data in the United States. In the open economy model, we utilize the Heckscher-Ohlin model to analytically show that differences in initial income distribution lead to global inequality through international trade in the case of non-homothetic utility functions.

Academic Significance and Societal Importance of the Research Achievements

資産や選好(好み)が異なる個人が存在する経済において解析分析をする場合、多くの研究では、初期の経済と長期の均衡の経済とを切り離すことで、分析を容易にする工夫をしていた。しかし、本研究ではそれらを切り離さずに、初期に資産の多い(少ない)個人、リスクに寛容な(リスクを回避する)個人といった異質な個人を想定したうえで、解析分析可能な枠組みを工夫し、長期の均衡が一意に存在することを証明した。更に、米国の所得データを利用し、シミュレーションを実施し、現実の所得分布の推移を踏まえ、将来の不平等の経過を提示した。又、貿易する2国において、世界・国内不平等がどう変化するかについて分析した。

Report

(6 results)
  • 2023 Annual Research Report   Final Research Report ( PDF )
  • 2022 Research-status Report
  • 2021 Research-status Report
  • 2020 Research-status Report
  • 2019 Research-status Report
  • Research Products

    (20 results)

All 2023 2022 2021 2020 2019

All Journal Article (10 results) (of which Peer Reviewed: 6 results,  Open Access: 1 results) Presentation (10 results) (of which Int'l Joint Research: 5 results)

  • [Journal Article] Government expenditure and economic growth: A heterogeneous-agents approach2023

    • Author(s)
      Arawatari Ryo, Hori Takeo, Mino Kazuo
    • Journal Title

      Journal of Macroeconomics

      Volume: 75 Pages: 103486-103486

    • DOI

      10.1016/j.jmacro.2022.103486

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Long-run Consequences of Population Decline in an Economy with Exhaustible ResourcesEconoic Modelling2023

    • Author(s)
      Kazuo Mino and Hiroaki Sasaki
    • Journal Title

      Economic Modelling

      Volume: 121 Pages: 1-10

    • DOI

      10.1016/j.econmod.2023.106212

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed
  • [Journal Article] On the Stationary Distribution of Income and Wealth in a Growing Economy with Endogenous Labor Supply2023

    • Author(s)
      Kazuo Mino
    • Journal Title

      Economics Bulletin

      Volume: 43 Pages: 108-115

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Pollution externalities and corrective taxes in a dynamic small open economy2022

    • Author(s)
      Yasuhiro Nakamoto and Akihiko Yanase
    • Journal Title

      International Tax and Public Finance

      Volume: 29 Issue: 3 Pages: 667-703

    • DOI

      10.1007/s10797-021-09679-w

    • NAID

      120006645119

    • Related Report
      2022 Research-status Report
    • Peer Reviewed
  • [Journal Article] The impacts of temporary and permanent public health policies on HRQOL in a small open economy2021

    • Author(s)
      NAKAMOTO,Yasuhiro;KAWAGISHI, Taketo
    • Journal Title

      Sustainability

      Volume: 13, 9866. Issue: 17 Pages: 1-33

    • DOI

      10.3390/su13179866

    • Related Report
      2021 Research-status Report
    • Peer Reviewed / Open Access
  • [Journal Article] Pollution Externalities and Corrective Taxes in a Dynamic Small Open Economy2021

    • Author(s)
      Yasuhiro Nakamoto, Akihiko Yanase
    • Journal Title

      International Tax and Public Finance

      Volume: -

    • NAID

      120006645119

    • Related Report
      2020 Research-status Report
    • Peer Reviewed
  • [Journal Article] The Pareto distribution, asymmetric shape parameters, and equilibrium in an asymmetric Melitz model2020

    • Author(s)
      Yasuhiro Nakamoto
    • Journal Title

      MPRA Paper

      Volume: 99750 Pages: 1-29

    • Related Report
      2019 Research-status Report
  • [Journal Article] Ambiguity and loss aversion: The effect of the endowment and windfall losses on the willingness to pay for insurance2020

    • Author(s)
      Yasuhiro Nakamoto, Tomoharu Mori, Naoko Okuyama
    • Journal Title

      ソシオネットワーク戦略ディスカッションペーパーシリーズ

      Volume: 85 Pages: 1-32

    • Related Report
      2019 Research-status Report
  • [Journal Article] Pollution Externalities and Corrective Taxes in a Dynamic Small Open Economy2019

    • Author(s)
      Akihiko Yanase and Yasuhiro Nakamoto
    • Journal Title

      Economic Research Center Discussion Paper

      Volume: E19-5 Pages: 1-39

    • NAID

      120006645119

    • Related Report
      2019 Research-status Report
  • [Journal Article] The impacts of pollution control policies on the pollution in small open economies2019

    • Author(s)
      Koichi Futagami and Yasuhiro Nakamoto
    • Journal Title

      Discussion Papers In Economics And Business

      Volume: 19-08 Pages: 1-41

    • Related Report
      2019 Research-status Report
  • [Presentation] Non-homothetic Utility Function and the Wealth Inequality in a Global Economy2023

    • Author(s)
      中元康裕
    • Organizer
      第82回全国大会 日本国際経済学会
    • Related Report
      2023 Annual Research Report
  • [Presentation] Envionmental discounting in an endowment economy with a renewable resource2023

    • Author(s)
      Yasuhiro Nakamoto
    • Organizer
      Asia-Pacific Conference on Economics and Finance 2023
    • Related Report
      2023 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Envionmental discounting in an endowment economy with a renewable resource2023

    • Author(s)
      Yasuhiro Nakamoto
    • Organizer
      Conference on sustainable development for thriving communities
    • Related Report
      2023 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Population Aging and Income Inequality in a Semi-Endogenous Growth Model2023

    • Author(s)
      Kazuo Mino, Hiroaki Sasaki
    • Organizer
      マクロ経済学研究会・二神孝一教授追悼コンファレンス
    • Related Report
      2023 Annual Research Report
  • [Presentation] Ambiguity aversion and framing effects in the insurance demand for low probability losses2019

    • Author(s)
      Yasuhiro Nakamoto
    • Organizer
      Singapore Economic Review Conference
    • Related Report
      2019 Research-status Report
    • Int'l Joint Research
  • [Presentation] Ambiguity aversion and framing effects in the insurance demand for low probability losses2019

    • Author(s)
      Yasuhiro Nakamoto
    • Organizer
      Asia-Pacific Conference on Economics & Finance
    • Related Report
      2019 Research-status Report
    • Int'l Joint Research
  • [Presentation] Ambiguity aversion and framing effects in the insurance demand for low probability losses2019

    • Author(s)
      Yasuhiro Nakamoto
    • Organizer
      The 12th Vietnam Economist Annual Meeting
    • Related Report
      2019 Research-status Report
    • Int'l Joint Research
  • [Presentation] Productivity Improvements and Falling Trade Costs Revisited2019

    • Author(s)
      中元康裕
    • Organizer
      日本国際経済学会第9回春季大会
    • Related Report
      2019 Research-status Report
  • [Presentation] The reversal of cutoff productivity and the welfare effects of trade liberalization in an asymmetric Melitz model2019

    • Author(s)
      中元康裕
    • Organizer
      六甲フォーラム
    • Related Report
      2019 Research-status Report
  • [Presentation] Comparative advantage in the Melitz model2019

    • Author(s)
      中元康裕
    • Organizer
      TCER 東京経済研究センター定例研究会
    • Related Report
      2019 Research-status Report

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

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