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Institutional Complementarity and Macro-economic Stability

制度互补与宏观经济稳定

基本信息

批准号：
13430002
负责人：
UNI Hiroyuki
金额：
$ 3.33万
依托单位：
Kyoto University
依托单位国家：
日本
项目类别：
Grant-in-Aid for Scientific Research (B)
财政年份：
2001
资助国家：
日本
起止时间：
2001 至 2003
项目状态：
已结题

项目摘要

First, in our research project, it was clarified theoretically and empirically what kind of combination between labor institutions and financial institutions brings about macroeconomic stability. The outline is as follows. It is well known that macroeconomic fluctuations are caused by various factors, the many of which are accompanied by the changes in investment. Investment fund is provided from two routes. The first one is the internal fund mainly based on profit, the second one is the external fund procured by capital market or banks. Labor institutions regarding employment and wages affect the elasticity of wage costs to the amount of production. Consequently, these institutions affect the elasticity of the amount of the profit and the internal fund. On the other hand, financial institutions influence the elasticity of the external fund. Thus, both labor institutions and financial institutions relate to macroeconomic dynamics through their influence on investment.Second, we analyze … More d theoretically and empirically the relation between public order and the monetary system, paying attention to institutional complementarities. Money has dual characteristics: public goods and private goods. This dualism cannot be overcome and people's credibility to money cannot be build by the legislation of the monetary system alone. The complementarities between monetary systems and other institutions such as the social security system or the fiscal system guarantees social stability of the monetary system, and plays the role to mediate money and public order.Thirdly, from the viewpoint of firms and nations, we analyzed how various economic subjects behaved when the institutional complementarities deteriorated and macroeconomic instability occurred. The existing institutional environment functions as a restriction against the reforms in firms. We clarified conditions for overcoming this restriction and the success of reforms. Moreover, we examined what kind of reforms in the fiscal policy and the social security system was preferable under a new kind of institutional complementarities. Less

首先，在我们的研究项目中，从理论和经验上阐明了劳动制度和金融制度之间的什么样的组合会带来宏观经济稳定。概要如下。众所周知，宏观经济波动是由各种因素引起的，其中许多因素都伴随着投资的变化。投资资金由两条途径提供。第一部分是以利润为主要来源的内部资金，第二部分是通过资本市场或银行获取的外部资金。有关就业和工资的劳动制度影响工资成本对生产量的弹性。因此，这些制度影响利润和内部资金的弹性，另一方面，金融制度影响外部资金的弹性，因此，劳动制度和金融制度都通过它们对投资的影响与宏观经济动态相关联。 ...更多信息从理论和实证两个方面分析了公共秩序与货币制度的关系，注意制度的互补性。货币具有公共物品和私人物品的双重属性。这种二重性是无法克服的，人们对货币的信誉也不能仅仅通过货币制度的立法来建立。货币制度与社会保障制度、财政制度等其他制度的互补性保证了货币制度的社会稳定性，发挥着货币与社会秩序的中介作用。第三，从企业和国家的角度分析了当制度互补性恶化、宏观经济不稳定时，各经济主体的表现。现有的制度环境对企业改革起着制约作用。我们阐明了克服这一限制和改革成功的条件。此外，我们还研究了在新的制度互补下，财政政策和社会保障制度的改革应该采取什么样的方式。少