本稿では，健康資本の蓄積を考慮した内生的成長モデルに依拠して，マクロ経済の収束問題を理論的に分析する．モデルから導出された収束係数について数値シミュレーションを行うことにより，その収束特性に関して2つの理論的可能性が示唆される．はじめに，標準的なパラメータセットの下で，ここで提示する2部門成長モデルは一般的な内生的成長モデルの収束特性を再現することになる．すなわち，相対的にハイテンポな収束過程が実現する．一方で，第2部門としての健康資本生産部門において，追加的な健康資本生産に対して資本深化外部性の影響が相対的に軽少で，かつ公的医療支出をファイナンスする所得税率が現実的に妥当な水準にあるケースで，ゆっくりとした収束過程が現れる．そうした相対的に緩慢な収束過程は，経済成長とβ-収束性に関する標準的な実証分析の結果と整合的である．, This paper investigates a speed of convergence in a growth model with health capital. The simulation of the model reveals two theoretical possibilities. First, under standard parameter set, this type of two-sector model replicates a notable feature of endogenous growth models on convergence property. That is to say, our model exhibits a higher rate of convergence. Second, when a capital deepening externality in the second sector has relatively weak impacts to additional health capital production and income tax rates which finance public health expenditure lie in realistically reasonable level, a slower speed of convergence comes true. Such the slower adjustment process is consistent with the standard empirical results on growth and β-convergence.
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Paper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series Discussion Paper with number
238.
Find related papers by JEL classification: E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models