Research Programs: International Macroeconomics

Microeconomics, Macroeconomics, and Political Philosophy toward Economic Growth

Project Leader/Sub-Leader


KOBAYASHI Keiichiro (Faculty Fellow)



We conduct comprehensive analysis of the policy measures that aim at enhancing economic growth in Japan. To this end, we focus on three aspects of the policy analysis, i.e., microeconomics, macroeconomics, and political philosophy. For the microeconomics aspect, based on the hypothesis that corporate governance affects aggregate productivity, we pursue the efficient reform measures of the investment chain, which consists of asset holders, asset managers, and investees (business firms). For the macroeconomics aspect, we analyze the hypothesis of secular stagnation using the standard neoclassical macroeconomic theory to find the policy implications for Japan and other developed economies. Finally, for the political philosophy aspect, we pursue a framework for political decision making for a policy agenda, of which the time horizon exceeds one or two generations.

July 27, 2015 - March 31, 2017

Major Research Results


RIETI Discussion Papers