オガワ　タカユキ   OGAWA Takayuki
  小川　貴之
   所属   大阪経済大学  経済学部 経済学科
   職種   教授
発表年月日 2005/02/09
発表テーマ Welfare Analysis of Debt Policy during Recessions
会議名 大阪大学社会経済研究所セミナー　第7回社研・森口賞入選者報告会
発表形式 口頭（一般）
単独共同区分 単独
開催地名 大阪大学
開催期間 2005/02/09～2005/02/09
発表者・共同発表者 Takayuki Ogawa（発表者）
概要 This paper develops an overlapping-generations model with nominal wage rigidities and examines the welfare effects of debt policy during recessions. Issues of public debt stimulate aggregate consumption demand and create employment. Future generations then face both increased wage incomes and higher taxes. If the amount of outstanding bonds is already large, debt policy deteriorates the welfare of future generations by levying heavy taxes. By contrast, if the outstanding bond issue is relatively small, debt policy can be Pareto improving by creating more employment. Therefore, the welfare implications of debt policy during recessions can be discriminated from those during booms.
researchmap用URL https://www.iser.osaka-u.ac.jp/ja/events/moriguchi
researchmap用URL2 https://www.iser.osaka-u.ac.jp/ja/events/moriguchi/past-winners