What is it about?
We have investigated how to manege public deficit and studied some debt policies in order to avoid fiscal unstability or its default. We have also engaged on some research retated to social security systems in aging economies. I have some published papers in academic journals (e.g., Macroeconomic Dynamics, International tax and Public Finance, and Journal of public Ecnomic Theory).
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Why is it important?
Weak fiscal condition, lower economic growth, population aging, and the risk of financial crises in recent years make it difficult for policy makers to implement effective policies. In order to break throgh these situation, fiscal consolidation and other public debt manege system are necessary. We obained some interesting results. First, to create fiscal space, fiscal consolidation should be implemented more rapidly, leading to Pateto improvement. Second, in order to avoid fiscal unstability, expenditure cut rather than tax increase is preferable for welfare.
Perspectives
Writing these articles were a great pleasure as it has co-authors with whom I have had long standing collaborations. These also lead to a greater involvement in the field of these researches. Further, our works help train students, specifically for the analytical investigations.
Noritaka Maebayashi
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This page is a summary of: DEBT POLICY RULE, UTILITY-GENERATING GOVERNMENT SPENDING, AND INDETERMINACY OF THE TRANSITION PATH IN AN AK MODEL, Macroeconomic Dynamics, October 2017, Cambridge University Press,
DOI: 10.1017/s1365100517000724.
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