Construction and Analyses of Macroeconomic Model including individuals with non-unitary discount rates
| Project/Area Number |
22530179
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Economic theory
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| Research Institution | Osaka University |
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Principal Investigator |
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| Co-Investigator(Kenkyū-buntansha) |
HORI Takeo 青山学院大学, 経済学部, 准教授 (80547513)
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| Project Period (FY) |
2010 – 2012
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| Project Status |
Completed (Fiscal Year 2012)
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| Budget Amount *help |
¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2012: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2011: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2010: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
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| Keywords | 時間選好率 / サイン(符号)効果 / 領域効果 / 時間非整合性 / 所得 / 消費 / 消費税 / 内生成長モデル / 時間割引率 / 利子税 / サイン効果 / 資本蓄積 / スムージング / 経済厚生 / Domain Effects / Discount rate / Time inconsistency / Consumption tax / Friedman rule / Time dependent discount rate / Naive / Sophisticate |
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| Research Abstract |
We have constructed macroeconomic model that has individuals with non-unitary discount rates. Decision making of the individuals shows time inconsistency. Thus, we must treat an individual at different times as different individuals; we call these individuals as selves. In this research project, we have been able to show that there exists optimal rate of consumption tax that maximize the welfare levels of all selves. Moreover, we have shown that this property holds even in a growth model.
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Report
(4 results)
Research Products
(11 results)
