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Firm Heterogeneity and Macroeconomic Policy

Research Project

Project/Area Number 26380237
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Research Field Economic theory
Research InstitutionDoshisha University (2016)
Kyoto University (2014-2015)

Principal Investigator

Mino Kazuo  同志社大学, 経済学部, 教授 (00116675)

Project Period (FY) 2014-04-01 – 2017-03-31
Project Status Completed (Fiscal Year 2016)
Budget Amount *help
¥3,770,000 (Direct Cost: ¥2,900,000、Indirect Cost: ¥870,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2015: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2014: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Keywords企業の異質性 / 経済成長 / 課税政策 / 政府支出 / 金融政策 / 金融市場の不完全性 / 研究開発 / 内生的経済成長 / インフレ率 / 借入制約 / R&D / 企業の規模分布 / 財政・金融政策の効果 / 企業の生産性格差 / 新古典派成長モデル
Outline of Final Research Achievements

This research explores the long-run effects of fiscal and monetary policies in the presence of firm heterogeneity. As to the fiscal policy, we analyze the models in which productivity of firms are heterogeneous and there are financial frictions. In this setting, fiscal policies such as taxation and government spending affect the cutoff level of efficiency that divides active and inactive firms. Since such an effect is absent in the standard models with homogeneous firms, the effects of fiscal actions on long-run growth would be different from these established in the models with homogeneous firms.
As to the long-run impacts of monetary policy, we use models with endogenous growth in which firms' ability of developing new goods are heterogeneous. In this case, the monetary policy affects the cutoff level of the R&D ability. Again. we find that the policy effects are substantially different from these obtained in the forgoing studies that assume homogeneous firms.

Report

(4 results)
  • 2016 Annual Research Report   Final Research Report ( PDF )
  • 2015 Research-status Report
  • 2014 Research-status Report
  • Research Products

    (14 results)

All 2016 2015 2014

All Journal Article (7 results) (of which Int'l Joint Research: 1 results,  Peer Reviewed: 7 results,  Acknowledgement Compliant: 2 results,  Open Access: 2 results) Presentation (7 results) (of which Int'l Joint Research: 3 results,  Invited: 1 results)

  • [Journal Article] Fiscal Policy in a Growing Economy with Financial Frictions and Firm Heterogeneity2016

    • Author(s)
      Kazuo Mino
    • Journal Title

      Japanese Economic Review

      Volume: 67 Issue: 1 Pages: 3-30

    • DOI

      10.1111/jere.12087

    • Related Report
      2016 Annual Research Report 2015 Research-status Report
    • Peer Reviewed
  • [Journal Article] Time Preference and Income Convergence in a Dynamic Heckscher-Ohlin Model2016

    • Author(s)
      Taketo Kawagishi, Kazuo Mino
    • Journal Title

      Review of International Economics

      Volume: 近刊予定 Issue: 3 Pages: 592-603

    • DOI

      10.1111/roie.12224

    • Related Report
      2016 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Heterogeneous conformism and wealth distribution in a neoclassical growth model2016

    • Author(s)
      Kazuo Mino and Yasuhiro Nakamoto
    • Journal Title

      Economic Theory

      Volume: 62 Issue: 4 Pages: 689-717

    • DOI

      10.1007/s00199-015-0923-6

    • Description
      印刷中 [掲載確定]
    • Related Report
      2016 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Conformism And Structural Change2015

    • Author(s)
      】Takeo Hori and Masako Ikefuji and Kazuo Mino
    • Journal Title

      International Economic Review,

      Volume: 56 Issue: 3 Pages: 939-961

    • DOI

      10.1111/iere.12127

    • Related Report
      2015 Research-status Report
    • Peer Reviewed / Acknowledgement Compliant
  • [Journal Article] Welfare Implications And Equilibrium Indeterminacy in a Two-Sector Growth Model With Consumption Externalities2015

    • Author(s)
      】Been-Lon Chen, Yu-Shan Hsu and Kazuo Mino
    • Journal Title

      Macroeconomic Dynamics

      Volume: 19 Issue: 2 Pages: 535-577

    • DOI

      10.1017/s1365100514000613

    • Related Report
      2015 Research-status Report
    • Peer Reviewed / Int'l Joint Research / Acknowledgement Compliant
  • [Journal Article] A Simple Model of Endogenous Growth with Financial Frictions and Firm Heterogeneity2015

    • Author(s)
      Kazuo Mino
    • Journal Title

      Economics Letters

      Volume: 127, Issue C Pages: 20-23

    • DOI

      10.1016/j.econlet.2014.12.022

    • Related Report
      2014 Research-status Report
    • Peer Reviewed / Open Access
  • [Journal Article] Capital Accumulation and Structural Change in a Small-Open Economy2014

    • Author(s)
      Yunfng Hu and Kazuo Mino
    • Journal Title

      Pacific Economic Review

      Volume: 19 Issue: 5 Pages: 634-656

    • DOI

      10.1111/1468-0106.12087

    • Related Report
      2014 Research-status Report
    • Peer Reviewed / Open Access
  • [Presentation] On the Non-linear Relation between Inflation and Growth: A Thoretical Exposition2016

    • Author(s)
      Kazuo Mino
    • Organizer
      Asian Meeting of the Econometric Society
    • Place of Presentation
      同志社大学(京都府・京都市)
    • Year and Date
      2016-08-12
    • Related Report
      2016 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Stabilization Effects of Progressive Taxation in a Small Open Economy with Endogenous Growth2016

    • Author(s)
      Kazuo Mino
    • Organizer
      Taipei International Conference on Growth, Trade, and Dynamics
    • Place of Presentation
      台北市(台湾)
    • Year and Date
      2016-06-24
    • Related Report
      2016 Annual Research Report
    • Int'l Joint Research
  • [Presentation] 】On the Nonlinear Relation between Inflation and Growth: A Theoretical Exposition2015

    • Author(s)
      Kazuo Mino
    • Organizer
      Conference on Trade, Financial Integration and Economic Growth
    • Place of Presentation
      神戸大学
    • Year and Date
      2015-11-21
    • Related Report
      2015 Research-status Report
    • Int'l Joint Research
  • [Presentation] 】】Fiscal Policy in a Growing Economy with Financial Frictions and Firm Heterogeneity2015

    • Author(s)
      Kazuo Mino
    • Organizer
      日本経済学会
    • Place of Presentation
      上智大学
    • Year and Date
      2015-10-11
    • Related Report
      2015 Research-status Report
    • Invited
  • [Presentation] "Equilibrium Dynamics of a Neoclassical Growth Model under Alternative Financial Constraints2015

    • Author(s)
      Kazuo Mino
    • Organizer
      EI Joint Workshop
    • Place of Presentation
      Academia Sinica (台湾)
    • Year and Date
      2015-03-19 – 2015-03-20
    • Related Report
      2014 Research-status Report
  • [Presentation] ”Prgressive Taxation and Income Distribution in a Growing Econimy with Variable Labor Supply2014

    • Author(s)
      Kazuo Mino
    • Organizer
      Meeting of the Association of Public Economics Theory
    • Place of Presentation
      University of Washington (シアトル、米国)
    • Year and Date
      2014-07-11 – 2014-07-13
    • Related Report
      2014 Research-status Report
  • [Presentation] “Trade Structure and Growth Effects of Tax Policy in a Two-Country World2014

    • Author(s)
      Kazuo Mino
    • Organizer
      Asian Meeting of the Econometric Society
    • Place of Presentation
      Academia Sinica (台湾
    • Year and Date
      2014-06-19 – 2014-06-21
    • Related Report
      2014 Research-status Report

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Published: 2014-04-04   Modified: 2018-03-22  

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