17:00〜18:30
17:00-17:45 “Sequential dictatorship rules in multi-unit object assignment problems with money” 川﨑雅弘 (京都大学)
17:45-18:30 “Dynamic Many-to-One Matching under Constraints” 賀瑞（京都大学）
10:00〜17:20
2025 Kyoto Spring Workshop on Macroeconomics
10:00 – 10:50 岩崎 康平（京都大学経済学研究科）
”E-Money and Liquidity”
10:50 – 11:40 瀧川 拓史（神戸大学経済学研究科）
”Optimal Redistribution with Reference Dependent Utility”
11:40 – 11:50 休憩
11:50 – 12:40 小松 功拓（京都大学経済研究所）
”Temporary Layoffs and Unemployment Insurance”
12:40 – 13:40 昼食
13:40 – 14:30 上野 洋太郎（京都大学大学院経済学研究科・D1）
”Intermediation and Microfinance”
14:30 – 15:20 Mingyan Chen（京都大学大学院経済学研究科・D3）
”Analyzing Japan’s Public Pension Reform in an Overlapping Generations Economy with Heterogeneous Households”
15:20 – 15:30 休憩
15:30 – 16:20 池田 晃彦（京都産業大学経済学部）
”Commodity Price Shocks, External Borrowing, and Business Cycles in Small Open Economies”
16:20 – 17:20 阿曽沼 多聞（IMF）
”Fiscal Policy Analysis of Sovereign Debt”
17:00〜18:30
17:00〜18:30
15:00〜16:30
要旨：This paper examines the optimal design of retirement policies that rely on private insurance markets while accounting for financial frictions within these markets. We analyze the impact of uninsurable aggregate interest rate shocks in a life-cycle model where the government screens productivity, longevity, and altruism. We show that observing retirees’ annuitization choices helps separate individual types. However, private annuity markets face supply-side inefficiencies due to interest rate risk. To improve market efficiency, the government can issue long-term bonds, supported by interest rate-contingent taxes. Therefore, full privatization can only be optimal without interest rate shocks; otherwise, Social Security remains necessary.
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17:00〜18:30
15:00〜16:30
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