2010 Fiscal Year Final Research Report
The roles of time-inconsistent preferences in economic growth models
| Project/Area Number |
21830035
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| Research Category |
Grant-in-Aid for Research Activity Start-up
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| Allocation Type | Single-year Grants |
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| Research Field |
Economic theory
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| Research Institution | Hitotsubashi University |
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Principal Investigator |
HORI Takeo Hitotsubashi University, 大学院・経済学研究科, 講師 (80547513)
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| Research Collaborator |
FUTAGAMI Koichi 大阪大学, 大学院・経済学研究科, 教授 (30199400)
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| Project Period (FY) |
2009 – 2010
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| Keywords | 経済政策 / 時間非整合性 / 行動経済学 / 経済成長 / 時間割引率 |
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| Research Abstract |
This research develops a simple model where the agent discounts utility from consumption at a different rate from disutility of labor supply. I show that in our non-unitary discount rate model, the preferences of the agent are time-inconsistent. It is shown that the policy effects in our model are quite different from those in the standard model. For example, when the agent discounts utility from consumption at a higher rate than the disutility of labor supply, the utility level of the agents can be improved by imposing a positive consumption tax. The development of credit market has possibility to deteriorate the utility level of the agents.
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Research Products
(12 results)
