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Politico-economic analysis of redistribution policies

Research Project

Project/Area Number 15K03509
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Research Field Public finance/Public economy
Research InstitutionOsaka University

Principal Investigator

Ono Tetsuo  大阪大学, 経済学研究科, 教授 (50305661)

Project Period (FY) 2015-04-01 – 2018-03-31
Project Status Completed (Fiscal Year 2017)
Budget Amount *help
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2017: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2015: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Keywords失業 / 経済成長 / 投票 / 世代間厚生 / 社会保障 / 人的資本 / 教育選択 / 厚生 / 年金 / 公教育 / 国債 / 世代重複モデル / 高齢化
Outline of Final Research Achievements

This project includes three studies. First, I examine how debt and tax financing differ in terms of growth and welfare across generations, as well as which fiscal stance voters support. The analysis shows that the growth rate in debt financing is lower than that in tax financing, and that debt financing creates a tradeoff between generations. Second, I present voting over public pensions, and show that the growth rate is higher in the presence of an annuity market than in its absence, but its presence implies an intergenerational trade-off in terms of utility. Third, I present a model featuring collective wage-bargaining and voting over fiscal policy, and show that an increase in the political power of elderly persons lowers the growth rate and shifts government expenditure from unemployed persons to elderly ones; and that prohibiting debt finance increases the growth rate and benefits future generations; however, it worsens the state of present-day employed and unemployed persons.

Report

(4 results)
  • 2017 Annual Research Report   Final Research Report ( PDF )
  • 2016 Research-status Report
  • 2015 Research-status Report
  • Research Products

    (4 results)

All 2018 2017 2016

All Journal Article (3 results) (of which Peer Reviewed: 2 results,  Acknowledgement Compliant: 2 results) Presentation (1 results)

  • [Journal Article] Growth, Unemployment, and Fiscal Policy: A Political Economy Analysis2018

    • Author(s)
      Tetsuo Ono
    • Journal Title

      Macroeconomic Dynamics

      Volume: forthcoming Issue: 8 Pages: 1-41

    • DOI

      10.1017/s1365100517001067

    • Related Report
      2017 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Aging, Pensions, and Growth2017

    • Author(s)
      Tetsuo Ono
    • Journal Title

      FinanzArchiv/Public Finance Analysis

      Volume: in press Issue: 2 Pages: 1-30

    • DOI

      10.1628/001522117x14877521353519

    • Related Report
      2016 Research-status Report
    • Acknowledgement Compliant
  • [Journal Article] Pension, Education, and Growth: A Positive Analysis2016

    • Author(s)
      Tetsuo Ono, Yuki Uchida
    • Journal Title

      Journal of Macroeconomics

      Volume: in press Pages: 1-30

    • DOI

      10.1016/j.jmacro.2016.03.005

    • Related Report
      2016 Research-status Report 2015 Research-status Report
    • Peer Reviewed / Acknowledgement Compliant
  • [Presentation] Inequality and education choice2017

    • Author(s)
      Tetsuo Ono
    • Organizer
      THE 2ND BELGIAN-JAPANESE PUBLIC FINANCE WORKSHOP
    • Place of Presentation
      Universite Catholique de Louvain , Center for Operations Research and Econometrics(CORE)
    • Year and Date
      2017-03-02
    • Related Report
      2016 Research-status Report

URL: 

Published: 2015-04-16   Modified: 2019-03-29  

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