Measuring Impacts of Governmental Subsidies on Household Consumption

• Project/Area Number: 22730226
• Research Category: Grant-in-Aid for Young Scientists (B)
• Allocation Type: Single-year Grants
• Research Field: Economic policy
• Research Institution: Hitotsubashi University (2012-2013); Kobe University (2010-2011)
• Principal Investigator: UNAYAMA TAKASHI 一橋大学, 経済研究所, 非常勤研究員 (20348840)
• Project Period (FY): 2010-04-01 – 2014-03-31
• Project Status: Completed (Fiscal Year 2013)
• Budget Amount: ¥3,770,000 (Direct Cost: ¥2,900,000、Indirect Cost: ¥870,000); Fiscal Year 2013: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000); Fiscal Year 2012: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000); Fiscal Year 2011: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000); Fiscal Year 2010: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
• Keywords: 消費 / ライフサイクル仮説 / 家計行動 / ミクロデータ / 補助金政策 / 定額給付金 / 児童手当 / 家計調査

Research Abstract

This project measures the impact of governmental subsidies on household consumption to 1) test the lifecycle-permanent income hypothesis (LCPIH) and 2) derive an implication to the macroeconomic policy. We find that household behavior looks contradict to the LCPIH but the degree of deviation is not so large. The implication of this results is that a consumption-stimulating macro policy is not so effective.

Research Products

• [Journal Article] The Impact of Retirement on Household Consumption in Japan (2012)
  • Author(s): Melvin Stephens Jr. and Takashi Unayama
  • Journal Title: Journal of Japanese and International Economies Volume: vol.26 Pages: 62-83
  • NAID: 210000175434
  • Peer Reviewed
• [Journal Article] The impact of retirement on household consumption in Japan (2012)
  • Author(s): Stephens, M., Unayama, T.
  • Journal Title: Journal of the Japanese and International Economies Volume: 26 Pages: 62-83
  • NAID: 210000175434
  • Peer Reviewed
• [Journal Article] The Consumption Response to Seasonal Income : Evidence from Japanese Public Pension Benefits (2011)
  • Author(s): Melvin Stephens Jr. and Takashi Unayama
  • Journal Title: American Economic Journal : Applied Economics Volume: vol.3 Pages: 86-118
  • Peer Reviewed
• [Journal Article] 家計調査のパネル化について : 世帯照合の方法 (2011)
  • Author(s): 宇南山卓
  • Journal Title: 国民経済雑誌 Volume: 第204巻-3号 Pages: 51-64
  • NAID: 110008658609
• [Journal Article] 家計調査の課題と改善に向けて (2011)
  • Author(s): 宇南山卓
  • Journal Title: 統計と日本経済 Volume: 第1巻-1号 Pages: 1-26
• [Journal Article] The Consumption Response to Seasonal Income : Evidence from Japanese Public Pension Benefits (2011)
  • Author(s): Stephens, M., Unayama, T.
  • Journal Title: American Economic Journal : Applied Economics Volume: 3 Issue: 4 Pages: 86-118
  • DOI: 10.1257/app.3.4.86
  • Peer Reviewed
• [Journal Article] 結婚・出産と就業の両立可能性と保育所の整備 (2011)
  • Author(s): 宇南山卓
  • Journal Title: 日本経済研究 Volume: 65号 Pages: 1-22
  • NAID: 40018977069
  • Peer Reviewed
• [Presentation] The Impact of Japan's ChildBenefit on Consumption and Savings (2013)
  • Author(s): 宇南山卓
  • Organizer: 日本経済学会春季大会
  • Place of Presentation: 富山大学、富山県
  • Year and Date: 2013-06-22
  • Invited
• [Presentation] Measuring Intertemporal Substitution : Evidence from a Consumption Tax Rate Increase in Japan (2012)
  • Author(s): David B. Cashin and Takashi Unayama
  • Organizer: NBER Japan ProjectMeeting
  • Place of Presentation: アジア開発銀行研究所、東京都
  • Year and Date: 2012-06-29
• [Presentation] The Consumption Response to Seasonal Income : Evidence from Japanese Public Pension Benefits (2011)
  • Author(s): Melvin Stephens Jr. and Takashi Unayama
  • Organizer: NBER Japan Project Meeting
  • Place of Presentation: アジア開発銀行研究所、東京都
  • Year and Date: 2011-06-24
• [Presentation] Measuring Intertemporal Substitution: Evidence from a Consumption Tax Rate Increase in Japan
  • Author(s): David B. Cashin and Takashi Unayama
  • Organizer: NBER Japan Project Meeting
  • Place of Presentation: アジア開発銀行（東京）