An Application of Macroeconomic Heterogenous Agent Model to Monetary and Fiscal Policies and Social Security Systems in Japan

2023 Fiscal Year Final Research Report

• Project/Area Number: 21K01464
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Review Section: Basic Section 07040:Economic policy-related
• Research Institution: Nihon University (2022-2023); Tokyo Metropolitan University (2021)
• Principal Investigator: IIBOSHI Hirokuni 日本大学, 経済学部, 教授 (90381441)
• Project Period (FY): 2021-04-01 – 2024-03-31
• Keywords: 社会保障政策 / ヘテロエージェントモデル / 実証マクロ経済分析 / ライフサイクルモデル / 重複世代モデル

Outline of Final Research Achievements

Throughout the last three years, we have estimated Japan's social security and childcare support policies from a macroeconomic approach, using a life-cycle model and an overlapping generations model. For this purpose, the validity of the model was assessed by comparing the results of the model calculations with actual demographic and labour wage data for Japan. For the calculation of the model, Matlab was employed as the calculation software and a GPU (Graphic Processor Unit) as the hardware for parallel calculation. These studies were reported at the Japan Economic Association in 2022 and 2023.

Free Research Field

計量経済学、　マクロ経済学

Academic Significance and Societal Importance of the Research Achievements

日本をはじめ先進諸国は少子高齢化という課題を抱えている。さらに人口減による経済成長の停滞も大きな課題となっている。このような状況で、どのような社会保障政策が持続可能を担保しつつ国民の厚生を向上させるのか、また、どのような子育て支援政策が夫婦の負担を減らし出産の増加に寄与するのか、これらの課題を定量的に答えることは社会的に大きな意義があると思われる。