完全雇用実現のための財政政策について： 世代重複モデルによる理論的分析 (On the Fiscal Policy for Full Employment: Theoretical Analysis With an Overlapping Generations Model)

2021 ◽  
Author(s):  
Yasuhito Tanaka
Keyword(s):  
Fiscal Policy ◽  
Theoretical Analysis ◽  
Overlapping Generations ◽  
Full Employment ◽  
Overlapping Generations Model

scholarly journals INCOME DISTRIBUTION BY AGE GROUP AND PRODUCTIVE BUBBLES

2020 ◽  
pp. 1-31
Author(s):  
Xavier Raurich ◽  
Thomas Seegmuller
Keyword(s):  
Fiscal Policy ◽  
Overlapping Generations ◽  
Consumption Smoothing ◽  
Age Group ◽  
Overlapping Generations Model ◽  
Aggregate Production ◽  
Speculative Bubbles ◽  
Intertemporal Consumption ◽  
Distribution Of Income

The aim of this paper is to study the role of the distribution of income by age group on the existence of speculative bubbles. A crucial question is whether this distribution may promote a bubble associated to a larger level of capital, that is a productive bubble. We address these issues in an overlapping generations model where agents live three periods and productive investment done in the first period of life is an illiquid investment whose return occurs in the following two periods. A bubble is a liquid speculative investment that facilitates intertemporal consumption smoothing. We show that the distribution of income by age group determines both the existence and the effect of bubbles on aggregate production. We also show that fiscal policy, by changing the distribution of income, may facilitate or prevent the existence of bubbles and may also modify the effect that bubbles have on aggregate production.

Involuntary Unemployment as a Nash Equilibrium and Fiscal Policy for Full Employment

2021 ◽  
pp. 2150018
Author(s):  
Yasuhito Tanaka
Keyword(s):  
Nash Equilibrium ◽  
Fiscal Policy ◽  
Budget Deficit ◽  
Full Employment ◽  
Aggregate Demand ◽  
Fiscal Policies ◽  
Budget Deficits ◽  
Overlapping Generations Model ◽  
Involuntary Unemployment ◽  
Game Theoretic

This study aimed to provide a game-theoretic interpretation of the analyses of involuntary unemployment by deficiency of aggregate demand and fiscal policy to achieve full employment using an overlapping generations model. We showed that involuntary unemployment is in a Nash equilibrium of a game with a firm and consumers. Moreover, we showed that full employment can be achieved through fiscal policies that create budget deficits in recessionary conditions with involuntary unemployment. Once full employment is achieved, it can be sustained without a budget deficit.

Fiscal Policy in an Overlapping Generations Model with Bequest-as-Consumption

2004 ◽  
Vol 6 (3) ◽  
pp. 397-407 ◽  
Author(s):  
Philippe Michel ◽  
Pierre Pestieau
Keyword(s):  
Fiscal Policy ◽  
Overlapping Generations ◽  
Overlapping Generations Model

Imperfect Competition in an Overlapping Generations Model: A Case for Fiscal Policy

1995 ◽  
pp. 531 ◽  
Author(s):  
d'Aspremont ◽  
Dos Santos Ferreira ◽  
Gerard-Varet
Keyword(s):  
Fiscal Policy ◽  
Imperfect Competition ◽  
Overlapping Generations ◽  
Overlapping Generations Model
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