Determination of wage and asset distribution: An analysis using a labor search model with firm heterogeneity

2020 Fiscal Year Final Research Report

• Project/Area Number: 17KK0047
• Research Category: Fund for the Promotion of Joint International Research (Fostering Joint International Research)
• Allocation Type: Multi-year Fund
• Research Field: Economic theory
• Research Institution: Doshisha University (2018-2020); Nagoya University (2017)
• Principal Investigator: Arawatari Ryo 同志社大学, 経済学部, 准教授 (20547335)
• Project Period (FY): 2018 – 2020
• Keywords: 所得分布 / 政府支出 / 国債 / 国債発行ルール

Outline of Final Research Achievements

I conducted the following four studies. The first study examines the relationship between the size of government expenditure and economic growth. Our theoretical and numerical shows that when there are variations in people's R&D ability and the size of government expenditure is moderate, the correlation between the size of government expenditure and economic growth rate　is not prominent.
The second study considers a difference in age gap in voter turnout and its impact on fiscal policymaking. We show that a higher turnout of the elderly in voting may have a positive or a negative effect on the size of government debt.
The third and fourth studies consider the optimal public debt rules when a violation of debt rules is possible. We show that the optimal level of debt ceiling is strongly related with the degree of impatience of people in each country.

Free Research Field

マクロ経済学

Academic Significance and Societal Importance of the Research Achievements

「研究成果の概要」で示した一つ目の研究の結果は，政府支出のサイズが極端な水準にない場合には，政府支出サイズの変化は所得分布には影響するものの，経済成長率にはあまり影響しないことを意味する．この結果は実証分析結果とも整合的であり，政府サイズと所得分布・経済成長率の関係について，新しい知見を与えるものである．
二つ目，三つ目，四つ目の研究はいずれも公債発行に注目した研究である．これらの研究では年齢別投票率格差や有権者の我慢強さなど，各国固有の諸条件が公債発行量や好ましい公債発行ルールと強く関係しており，ひいては所得・資産格差の形成においても重要な役割を果たし得ることが示唆されている．