Economic Development and Time Preference Schedule: The Case of Japan and East Asian NICs
Economic Development and Time Preference Schedule: The Case of Japan and East Asian NICs
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经济发展与时间偏好表：日本和东亚新兴工业化国家的案例
DOI：
10.1007/978-4-431-55501-8_9
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发表时间：
1993
影响因子：
5
通讯作者：
K. Ogawa
中科院分区：
文献类型：
--
作者：
K. Ogawa
时间偏好率的恒定性一直是消费者跨期选择研究的传统假设。本章实证检验了时间偏好表的恒常性假设的有效性。三个备择假设的时间偏好率进行了研究。第一个假设假定时间偏好率随着经济的发展而下降（费希尔假设）。第二个假设是时间偏好率随着经济的发展而增加（宇泽假设）。第三个假说是第二个假说和第三个假说的结合，认为随着国家的发展，时间偏好率在一定程度上下降，之后时间偏好率上升（滨田-尾尾假说）。本研究以台湾、日本、韩国的战后年度时间序列资料来验证这些假设。我发现，在台湾和日本的时间偏好率是恒定的，而滨田的时间偏好率是支持。
The constancy of the time preference rate has been a traditional assumption of the literature on intertemporal choice of consumers. This chapter examines empirically the validity of the constancy hypothesis of the time preference schedule. Three alternative hypotheses concerning the time preference rate are investigated. The first hypothesis posits that the time preference rate decreases as the economy develops (Fisher hypothesis). The second hypothesis posits that the time preference rate increases as the economy develops (Uzawa hypothesis). The third hypothesis, which is a combination of the second and third hypotheses, posits that as a nation develops, the time preference rate decreases up to a certain point, and thereafter, the time preference rate increases (Fukao-Hamada hypothesis). Post-war annual time series data from Taiwan, Japan, and Korea are employed to examine these hypotheses. I find that the Fukao-Hamada hypothesis is supported for Taiwan and Japan, while the time preference rate is constant for Korea.