2017年5月11日(金) 16:20-17:50 第401演習室（文科系総合研究棟4階）
八木橋毅司 氏 (Old Dominion University)
Title: Intertemporal Elasticity of Substitution with Leisure Margin (abstract)
This paper investigates whether leisure time definitions matter in the estimation of the intertemporal elasticity of substitution of consumption (IES)
by using a utility specification that allows interaction between consumption and leisure time.
We find that the IES estimated using a narrowly defined leisure measure that excludes quasi-leisure activities is larger than that estimated using nonmarket time.
The discrepancy is largely driven by the substitution of consumption and several leisure components over the lifecycle.
This finding is robust in alternative specifications and holds well for subsamples of higher socioeconomic status.
Our results demonstrate the inseparable nature of consumption and time allocation.
2017年5月17日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
山田知明 氏 (明治大学)
Title: The Effects of Monetary Policy Shocks on Inequality in Japan (abstract)
The impacts of monetary easing on inequality have been attracting increasing attention recently.
In this paper, we use the micro-level data on Japanese households to study the distributional effects of monetary policy.
We construct quarterly series of income and consumption inequality measures from 1981 to 2008, and estimate their response to a monetary policy shock.
We find that monetary policy shocks do not have a statistically significant impact on inequality across Japanese households in a stable manner.
When considering inequality across households whose head is employed, we find evidence that,
before the 2000s, an expansionary monetary policy shock increased income inequality through a rise in earnings inequality.
Such procyclical responses are, however, scarcely observed when the current data are included in the sample period, or when earnings inequality across all households is considered.
We also find that transmission of income inequality to consumption inequality is minor,
including during the period when procyclicality of income inequality was pronounced.
Using a two-sector dynamic general equilibrium model with attached labor inputs,
we show that labor market flexibility is central to the dynamics of income inequality after monetary policy shocks.
We also use the micro-level data on households' balance sheets and show that distributions of households' financial assets and liabilities
do not play a significant role in the distributional effects of monetary policy.
2017年5月24日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
小西秀樹 氏 (早稲田大学)
Title: How Redistributive are the Hidden Welfare States?: Private Social Expenditure and Redistribution in OECD countries (abstract)
The modern welfare states provide social protection services not only directly from the public sector but also from the private sector, e.g.,
by mandating employment-based provisions and giving tax breaks for voluntary transactions for social purposes.
This paper incorporates such private social expenditures and estimates the redistributive impacts of social protection systems in OECD countries, using a dynamic panel model.
It is found that the redistributive impact decreases as the system relies more on the private sector, some countries have no statistically significant redistributive impacts,
and the OECD countries have strengthened redistribution thought social policy on average after 2000.
It is also discussed how the estimation results depend on the choice of the income inequality index to regress.
2017年6月7日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
白井大地 氏 (東北学院大学)
Title: TBA (abstract)
2017年6月21日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
島根哲哉 氏 (東京工業大学)
Title: TBA (abstract)
2017年6月28日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
松村敏弘 氏 (東京大学)
Title: TBA (abstract)
2017年7月5日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
釜賀浩平 氏 (上智大学)
Title: An axiomatization of the mixed Bentham-Rawls social welfare orderings (abstract)
We axiomatize the mixed Bentham-Rawls social welfare orderings (SWOs). A mixed Bentham-Rawls SWO is a convex combination of utilitarianism and the maximin principle.
We first show that for an SWO, the axioms of weak Suppes-Sen, Pigou-Dalton equity, composite transfer principle,
and continuity are jointly equivalent to the existence of a continuous and monotone ordering for pairs of average and minimum utilities that can be used to rank utility vectors.
We then show that the mixed Bentham?Rawls SWOs are characterized by adding the axiom of cardinal full comparability.
2017年7月19日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
Language: English, 応用統計計量ワークショップとの共催
YoungJin Choi 氏 (Temple University)
Title: TBA (abstract)
2017年8月2日(木) 16:20-17:50 第401演習室（文科系総合研究棟4階）
高橋修平 氏 (京都大学)
Title: Does State-Dependent Wage Setting Generate Multiple Equilibria? (abstract)
Does wage setting show strategic complementarity and produce multiple equilibria?
This study constructs a discrete-time New Keynesian model in which households choose when to change their wage subject to a fixed wage-setting cost.
I analyze a steady-state equilibrium of the state-dependent wage-setting model both analytically and numerically.
I find that for reasonable parameter values, complementarity in wage setting is weak and multiple equilibria are unlikely to exist at the steady state.
This result is robust to introducing imperfect insurance for consumption.
2018年4月19日(木) 16:20-18:20 第401演習室（文科系総合研究棟4階）
鈴木通雄 氏 (東北大学)
Title: Decomposition of Aggregate Productivity Growth with Unobserved Heterogeneity (abstract)
Aggregate productivity growth and the role of input reallocation have been hotly debated.
Yet, it has received little attention as to how the measurement of reallocation relies on the commonly-made assumption that a production technology is uniform within an industry.
To quantify the effects of unobserved heterogeneity in production technology, we estimate a random-coefficient Cobb-Douglas production function.
We identify plant type from the distribution of the intermediate inputs to sales ratio using the first order condition without permanent distortions in intermediate input markets.
The empirical analysis uses plant-level data from the Census of Manufacture.
We find that accounting for unobserved heterogeneity lowers the volatility of technical efficiency and reallocation contributions.
For knitted garments industry that features large dispersion in the intermediate input share, the average growth rate of the reallocation component over the 5-year period after the bubble burst in Japan is -0.5% with heterogeneity, while it is 0.4% without heterogeneity.
湯田道生 氏 (東北大学)
Title: Medical Assistance System and Outpatient Health Care Utilization: Evidence from Japan (abstract)
The medical assistance (MA) system in Japan provides medical care services to public assistance beneficiaries without any financial burden,
but it also could potentially increase the medical expenditure due to the two major inefficiencies: moral hazard and supplier-induced demand.
In this study, nationally representative sets of medical claim data are used to examine how assignment to the MA system affects the utilization of outpatient health care.
Empirical results obtained using a dummy endogenous variable model to control for non-random MA assignment,
which is subject to means testing by the local government, shows that MA assignment significantly increases medical expenditure.
Its arc elasticity ranges from -0.171 to -0.160, which is comparable to the RAND Health Insurance Experiment.
In addition, after excluding fatal patients, the elasticity increases to -0.250, which exceeds that obtained in recent empirical studies of low-income populations.
In addition, the elasticities for new MA patients are significantly larger than those for continuing patients and that MA clinic patients are particularly price-sensitive.
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