Dynamic analysis of fiscal policy, deregulation/privatization policy

2022 Fiscal Year Final Research Report

• Project/Area Number: 17K17975
• Research Category: Grant-in-Aid for Young Scientists (B)
• Allocation Type: Multi-year Fund
• Research Field: Economic theory; Economic policy
• Research Institution: Ryukoku University (2021-2022); Aomori Public College (2017-2020)
• Principal Investigator: Takao Kizuku 龍谷大学, 経済学部, 講師 (10755680)
• Project Period (FY): 2017-04-01 – 2023-03-31
• Keywords: マクロ経済学 / 産業組織論 / 市場構造 / 財政政策 / 規制緩和 / 民営化

Outline of Final Research Achievements

We conducted three studies on fiscal policy and deregulation/privatization policy: (1) We theoretically pointed out that when competition in the goods market becomes tight, the trend economic growth rate increases, but at the same time, it may destabilize economic fluctuations. (2) We successfully characterize the Markov perfect Nash equilibrium solution for a mixed oligopoly market where public and private firms compete. We show that there exists a non-monotonic relationship between the degree of privatization and equilibrium prices and that the optimal degree of privatization is significantly higher than the results for other equilibrium concepts. (3) The interaction between goods and labor market competition is analyzed from a long-run perspective.

Free Research Field

マクロ経済学

Academic Significance and Societal Importance of the Research Achievements

最近の研究成果から, 長期的なマクロ経済政策を考察する際に, 市場構造の変化に伴う二次的効果を通じた生産・投資活動への間接的影響が, 政策含意に大きな影響を与えることが示されている. また, 産業組織論の既存研究では, 動学的視点を踏まえた市場構造の変化についての研究蓄積が乏しいことが指摘されている. 本研究は, 上記の学術的背景から, マクロ経済学と産業組織論双方の知見を有機的に結び付け, 財政政策, 規制緩和・民営化政策の政策含意を分析する点に大きな特色・独創性を持つ. また, マクロ経済学と産業組織論で個別に議論されているその他の経済諸問題への応用可能性を示唆することも期待される.