2017年10月5日(木) 16:20-17:50 TBA
中島賢太郎 氏 (一橋大学)
2017年10月26日(木) 16:20-17:50 TBA
これまでの研究会:2017年4月20日(木) 16:20-17:50 第21演習室（文科系総合研究棟10階）
Language: English, 応用統計計量ワークショップとの共催
What are the effect of foreign news exposure on voter policy preferences? The proportion of news reports about foreign government actions, relative to domestic government actions, has increased dramatically during the past decades. This paper tests three hypotheses on what voters learn from foreign news in forming their opinions on a forthcoming trade agreement: self-interests, socio-tropic inference and the extraction of government competence signal. We designed and conducted two-waves of coordinated survey experiments in Japan and Taiwan in 2015, which randomly assigned different but factual news reports of their neighboring countries (Korea and China) signing a trade agreement, and solicit support for their own government signing an agreement with China. The results suggest that exposure to foreign news increases opposition to PTA with China around 7% points in Japan and decreases opposition by 6%-7% points in Taiwan.? In both countries, socio-tropic inference shapes respondent attitudes and respondents did not seem to learn self-interests or sectoral distributional implications from the foreign news reports. The findings shed new lights on the voter-based mechanisms underlying diffusion of economic policies across countries.?
2017年4月27日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
This study revisits the relationship between competition and innovation by incorporating an endogenous market structure in a dynamic general equilibrium model. We consider a free-entry model that the leader engages in Cournot competition with both non-innovative and innovative followers in each industry. A competition-enhancing policy, which reduces entry cost, can stimulate the entry of innovative followers when the entry cost is high. However, when the entry cost is sufficiently low, the entry of non-innovative followers crowds out innovative followers from the market. As a result, there is a non-monotonic relationship (inverted-V shape) between competition and innovation. Furthermore, we show that, while strengthening patent protection positively affects innovation when competition is sufficiently intense, the effect may be negative under milder competition. This suggests that a competition policy could complement a patent policy.
2017年5月25日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
We study the features of regional business cycles and growth in Japan. We find evidence of unconditional convergence over the 1955-2008 period. For the 1975-2008 period, we find evidence of convergence conditional on TFP gap, population growth, private investment rate and TFP growth. We also find that the consumption-output correlation puzzle exists, which implies that the idiosyncratic income shocks are not shared among prefectures and regions. Our analysis implies that frictions in financial markets are responsible for the low consumption risk-sharing among prefectures.
2017年6月1日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
This paper characterizes the shape of the Laffer curve for consumption tax analytically. The Laffer curve for consumption tax can be hump-shaped if the utility function is an additively separable one in consumption and labor supply. Conversely, it cannot be hump-shaped if the utility function is the one employed by previous researchers. The difference in the utility functions has quantitatively significant effects on the peak tax rates of the Laffer curves for labor and capital income taxes.
2017年6月15日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
堀健夫 氏 (東京工業大学)
Title: Monetary Policy, Financial Frictions, and Heterogeneous R&D Firms in an Endogenous Growth Model (abstract)
Motivated by the empirical facts, we construct an endogenous growth model in which heterogeneous R&D firms are financially constrained and use cash to finance R&D investments. The interaction between financial constraints and heterogeneity is an important determinant of the optimality of the Friedman rule. If there are no financial frictions, the presence of heterogeneity does not affect the optimality of the Friedman rule. If there are severe financial frictions, however, heterogeneity has an important effect. Without heterogeneity, the Friedman rule is optimal. However, with heterogeneity among R&D firms, deviating from the Friedman rule improves social welfare under a plausible condition.
2017年6月29日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
This study constructs a model of anticompetitive exclusive-offer competition between two existing suppliers. Although previous studies assume that one of the suppliers is a potential entrant, which cannot make an exclusive offer, we assume that all suppliers are existing firms. When suppliers compete imperfectly, the exclusive-offer competition reduces the supplier’s profit for the case where it fails to exclude the rival supplier, which induces each supplier to make a better exclusive offer. We point out that this leads to an exclusion of the existing supplier even when there is no exclusion of the potential entrant.
2017年7月6日(木) 14:40-16:10 第21演習室（文科系総合研究棟10階）
Studies have repeatedly reported regional variations in health conditions within a country, but the reason behind such disparities is still under debate. In this study, among the contributors to health disparities, we focus on healthcare-seeking behavior. We examine how regional characteristics affect such behavior of individuals over 50 years old regarding screening and controlling common chronic conditions such as hypertension, hypercholesterolemia, and diabetes. Our analysis using the Japanese Study of Aging and Retirement (JSTAR) shows that there are differences of at least three to 10 percentage points in the proportion of those who seek care across 10 areas covered. On applying a multilevel regression framework, we find that the vast majorities of these differences are due to composition effects, namely, the difference in the distribution of health risk at the individual level. We also find that regional characteristics do not play a major role in explaining the difference in healthcare-seeking activities. However, the concentration of healthcare resources in a region is found to be correlated with the decision to seek healthcare for certain chronic conditions, suggesting that the role of healthcare resources could differ by chronic condition.
2017年7月24日(月) 16:40-18:10 第21演習室（文科系総合研究棟10階）
The current study aims to estimate the causal effect of a wealth shock on individual health, focusing on inheritance receipt. A challenge when examining this causality is to overcome a potential endogeneity of inheritances. To deal with this problem, the novel approach we employed here is to examine the effect of inheritances from respondents' spouse' s parents, instead of respondents' own parents, on the health of respondents themselves. We try to estimate the short-term and long-term impacts of spousal inheritance receipt on the respondents’health. As for the short-term impact, we examine the dynamics of health outcomes during years immediately before and after the inheritance receipt in an event study framework. When assessing the long-term impact, we estimate the effects on health of the cumulative amount of inheritance received from spousal parents by the current survey wave. Our findings are summarized as follows. Starting with the short-term impact, while the asset shock does not affect respondents' mental health, it would improve their self-rated health when the spousal inheritance is not expected beforehand. By contrast, as for the long-term impact, no significant change is found for either type of health measures.
2017年7月27日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
This paper builds a simple general equilibrium model which realizes the nominal interest rate on reserve deposit below zero. In this model, banks hold cash and reserve deposits to create lending and credit services. If reserve deposit holdings can create both lending and credit services but cash holdings can create only lending services, the lower bound of the nominal interest rate on reserve deposit can be negative. The lower bound of the reserve rate is endogenous, which depends on the quantity of high-powered money.
2017年8月3日(木) 16:20-17:50 第21演習室（文科系総合研究棟10階）
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