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An Application of Macroeconomic Heterogenous Agent Model to Monetary and Fiscal Policies and Social Security Systems in Japan

Research Project

Project/Area Number 21K01464
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 07040:Economic policy-related
Research InstitutionNihon University (2022-2023)
Tokyo Metropolitan University (2021)

Principal Investigator

IIBOSHI Hirokuni  日本大学, 経済学部, 教授 (90381441)

Project Period (FY) 2021-04-01 – 2024-03-31
Project Status Completed (Fiscal Year 2023)
Budget Amount *help
¥3,900,000 (Direct Cost: ¥3,000,000、Indirect Cost: ¥900,000)
Fiscal Year 2023: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2022: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2021: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Keywords社会保障政策 / ヘテロエージェントモデル / 実証マクロ経済分析 / ライフサイクルモデル / 重複世代モデル / ヘテロエージェント・モデル / マクロ動学モデル / 金融政策 / 非線形モデル / 数値シミュレーション / 社会保障・年金制度
Outline of Research at the Start

中期・長期の2つの観点から、労働生産性・資産保有額で異質性をもつエージェント・モデルによる金融・財政・社会保障政策を利用し、現代日本経済の持続的可能な政策的含意を検証する。
20年~50年の長期的については新古典派型実質OLG社会保障モデルを使い、社会保障政策と持続可能な租税構造のベストマッチな組合せについて社会厚生の観点から定量的に算出する。
基本モデル: ①新古典派型実質OLG社会保障モデルとしてMcGrattan & Prescott (2017,
2018)のFortranモデルを、日本のデータに適合させる。

Outline of Final Research Achievements

Throughout the last three years, we have estimated Japan's social security and childcare support policies from a macroeconomic approach, using a life-cycle model and an overlapping generations model. For this purpose, the validity of the model was assessed by comparing the results of the model calculations with actual demographic and labour wage data for Japan. For the calculation of the model, Matlab was employed as the calculation software and a GPU (Graphic Processor Unit) as the hardware for parallel calculation. These studies were reported at the Japan Economic Association in 2022 and 2023.

Academic Significance and Societal Importance of the Research Achievements

日本をはじめ先進諸国は少子高齢化という課題を抱えている。さらに人口減による経済成長の停滞も大きな課題となっている。このような状況で、どのような社会保障政策が持続可能を担保しつつ国民の厚生を向上させるのか、また、どのような子育て支援政策が夫婦の負担を減らし出産の増加に寄与するのか、これらの課題を定量的に答えることは社会的に大きな意義があると思われる。

Report

(4 results)
  • 2023 Annual Research Report   Final Research Report ( PDF )
  • 2022 Research-status Report
  • 2021 Research-status Report
  • Research Products

    (9 results)

All 2024 2023 2022 2021

All Journal Article (4 results) (of which Peer Reviewed: 4 results,  Open Access: 1 results) Presentation (5 results) (of which Int'l Joint Research: 2 results)

  • [Journal Article] Estimating a Behavioral New Keynesian Model with the Zero Lower Bound2024

    • Author(s)
      HIROSE, Y., IIBOSHI, H., SHINTANI, M. and UEDA, K
    • Journal Title

      Journal of Money, Credit and Banking

      Volume: forthcoming

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed
  • [Journal Article] The Nexus between Public Debt and the Government Spending Multiplier: Fiscal Adjustments Matter2023

    • Author(s)
      Iwata, Y. and IIboshi, H
    • Journal Title

      Oxford Bulletin of Economics and Statistics

      Volume: 85 Pages: 830-858

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Estimating a Nonlinear New Keynesian Model with the Zero Lower Bound for Japan2022

    • Author(s)
      IIBOSHI HIROKUNI、SHINTANI MOTOTSUGU、UEDA KOZO
    • Journal Title

      Journal of Money, Credit and Banking

      Volume: Online Version Issue: 6 Pages: 1-35

    • DOI

      10.1111/jmcb.12908

    • Related Report
      2022 Research-status Report 2021 Research-status Report
    • Peer Reviewed / Open Access
  • [Journal Article] The Nexus between Public Debt and the Government Spending Multiplier: Fiscal Adjustments Matter2022

    • Author(s)
      Yasuharu Iwata, Hirokuni Iiboshi
    • Journal Title

      Oxford Bulletin of Economics and Statistics

      Volume: Forthcoming Issue: 4 Pages: 1-29

    • DOI

      10.1111/obes.12547

    • Related Report
      2022 Research-status Report
    • Peer Reviewed
  • [Presentation] “Child Care, Time Allocation, and Life Cycle”2023

    • Author(s)
      飯星博邦, 尾崎大輔. 好井優衣
    • Organizer
      2023年日本経済学会秋季大会(関西大学)
    • Related Report
      2023 Annual Research Report
  • [Presentation] Estimating a Behavioral New Keynesian Model with the Zero Lower Bound2023

    • Author(s)
      廣瀬康生, 飯星博邦, 新谷元嗣, 上田晃三
    • Organizer
      国際計算経済学・ファイナンス学会(CEF2023)
    • Related Report
      2023 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Estimating a Behavioral New Keynesian Model with the Zero Lower Bound2023

    • Author(s)
      廣瀬康生,,飯星博邦, 新谷元嗣, 上田晃三
    • Organizer
      International Association for Applied Econometrics (IAAE) Annual Conference
    • Related Report
      2023 Annual Research Report
    • Int'l Joint Research
  • [Presentation] "The Impact of the Social Security Reforms on Welfare: Who benefits and who loses across Generations, Gender and Employment Types?"2022

    • Author(s)
      Ozaki Daisuke, Hirokuni Iiboshi
    • Organizer
      日本経済学会 秋季大会 (慶応義塾大学)
    • Related Report
      2022 Research-status Report
  • [Presentation] Bayesian Estimation of Heterogeneous Agent New Keynesian Models Using Macro Data2021

    • Author(s)
      Ryo Hasumi & Hirokuni Iiboshi
    • Organizer
      日本経済学会 秋季大会 (大阪大学)
    • Related Report
      2021 Research-status Report

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Published: 2021-04-28   Modified: 2025-01-30  

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