Human capital accumulation and a policy implicatiaon under credit

• Project/Area Number: 21730153
• Research Category: Grant-in-Aid for Young Scientists (B)
• Allocation Type: Single-year Grants
• Research Field: Economic theory
• Research Institution: Waseda University (2011-2012); Tokyo Institute of Technology (2009-2010)
• Principal Investigator: KANEKO Akihiko 早稲田大学, 政治経済学術院, 准教授 (10282873)
• Project Period (FY): 2009 – 2012
• Project Status: Completed (Fiscal Year 2012)
• Budget Amount: ¥3,640,000 (Direct Cost: ¥2,800,000、Indirect Cost: ¥840,000); Fiscal Year 2012: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000); Fiscal Year 2011: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000); Fiscal Year 2010: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000); Fiscal Year 2009: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
• Keywords: 貨幣動学モデル / マクロ経済学 / 人的資本

Research Abstract

In this research, taking crediti constraint implication into account, we examined the effects of income tax and monetary financing within the money-in-the-production-function model, where real money balances are an input into the production process. We found that the financing of a given level of government spending with income taxes or monetary expansion induces multiple balanced growth paths (BGPs) and global indeterminacy. Moreover, in case of tax on asset and monetary expansion, we investigated the property of the balanced growth equilibrium.

Research Products

• [Journal Article] 資本あたり政府支出一定政策下での資金調達手段の相違がもたらす経済成長と厚生への影響と均衡解の性質について (2012)
  • Author(s): 金子昭彦・松崎大介
  • Journal Title: 經濟と社會 Volume: 第28巻 Pages: 1-21
  • NAID: 40019604831
• [Presentation] Multiple equilibria and indeterminacy in money-in-the-production-function model (2012)
  • Author(s): Akihiko Kaneko and Daisuke Matsuzaki(発表者金子昭彦)
  • Organizer: Asian meeting of the Econometric society
  • Place of Presentation: インド デリー大学
  • Year and Date: 2012-12-20
• [Presentation] Multiple equilibria and indeterminacy in money-in-the-production-function model (2012)
  • Author(s): 金子昭彦
  • Organizer: Asian meeting of the Econometric society
  • Place of Presentation: インド
• [Presentation] The effect of different expenditure financing in the money-in-the-production-function model (2010)
  • Author(s): Akihiko Kaneko and Daisuke Matsuzaki(発表者金子昭彦)
  • Organizer: Association for Public Economic Theory
  • Place of Presentation: スウェーデンウプスラ大学
  • Year and Date: 2010-08-24
• [Presentation] The effect of different expenditure financing in the money-in-the-production-function model (2010)
  • Author(s): 金子昭彦
  • Organizer: the International Institute of Public Finance
  • Place of Presentation: スウェーデンウプスラ大学
  • Year and Date: 2010-08-24
• [Presentation] The effect of different expenditure financing in the money-in-the-production-function model (2010)
  • Author(s): Akihiko Kaneko and Daisuke Matsuzaki(発表者松崎大介)
  • Organizer: Association for Public Economic Theory
  • Place of Presentation: トルコBogazici Campus
  • Year and Date: 2010-06-26