Research Programs: Macroeconomy and Low Birthrate/Aging Population

Macroeconomic Policy and Political Philosophy toward Economic Growth

Project Leader/Sub-Leader

KOBAYASHI Keiichiro

KOBAYASHI Keiichiro (Program Director and Faculty Fellow)

Leader

Overview

We conduct comprehensive analysis of the policy measures that aim at enhancing economic growth in Japan. To this end, we focus on macroeconomic policy, political philosophy and corporate governance. For the project’s focus on macroeconomic policy, we analyze the hypothesis of secular stagnation using standard neoclassical macroeconomic theory to find the policy implications for Japan and other developed economies. For the political philosophy aspect, we pursue a framework for political decision-making towards effective policy agenda formulation with a time horizon that extends beyond one or two generations. Furthermore, we evaluate the significance and potential of policymaking and decision-making in the interests of future generations by deeply discussing the mechanism known as future design, which originated in Japan. Concerning the issues on corporate governance, we investigate the implications of increasing shareholdings by employees and present a vision of a governance system which would be consistent with multi-stakeholder type capitalism, which will be dominant in the near future.

August 8, 2022 - January 31, 2025

(During the research project period, the research activity period is set from August 8, 2022 to July 31, 2024, and the data usage reporting period is set from August 1, 2024 to January 31, 2025.)

Major Research Results

2022

RIETI Policy Discussion Papers