Updated on 2024/03/25
Ph.D. (Economics) ( Harvard University, Graduate School of Arts and Sciences (Economics) )
ハーバード大学大学院 経済学研究科 doctor course completed
The University of Tokyo Faculty of Economics graduated
埼玉県立浦和高校 graduated
2018.4 -
中央大学法学部教授
2005.4 - 2018.3
一橋大学国際・公共政策大学院（兼 経済学研究科）准教授
2015.4 -
東京大学法学部非常勤講師
2000.8 - 2005.3
一橋大学大学院国際企業戦略研究科准教授
1998.8 - 2000.7
大阪大学大学院経済学研究科准教授
1984.4 - 1998.7
大蔵省（現財務省）勤務
American Economic Association
日本経済学会
日本財政学会
International Institute of Public Finance
財政学
マクロ経済学
Humanities & Social Sciences / Public economics and labor economics / Public finance/Public economy
Humanities & Social Sciences / Economic theory / 理論経済学
国際的なデジタル課税の理論的基礎
國枝繁樹
租税研究 ( 885 ) 130 - 154 2023.7
日本の所得税制に関する税務データに基づく分析の意義
NTC Discussion Paper ( 1 ) 2023.4
新しい国際法人課税の考察:完全価格差別モデルによる予備的分析
國枝繁樹
金融調査研究会調査報告書（第２グループ） 64 - 89 2021.7
MMT（現代貨幣理論）はどこが間違っているのか？
國枝繁樹
租税研究 ( 861 ) 108 - 124 2021.7
MMT（現代貨幣理論）はどこが間違っているのか？
証券レビュー 61 ( 4 ) 7 - 40 2021.4
國枝繁樹
金融調査研究会報告書（第２グループ） 102 - 124 2020.11
資産形成支援税制について
國枝繁樹
租税研究 ( 836 ) 96 - 123 2019.6
少子高齢化社会における相続税制のあり方
國枝繁樹
個人金融 14 ( 1 ) 56 - 65 2019.5
金融調査研究会報告書（第２グループ） 97 - 111 2018.7
金融調査研究会報告書 37 - 55 2017.7
金融危機後の金融関連税制：アップデート
金融調査研究会報告書（第２グループ） 2016.6
國枝 繁樹
租税研究 ( 800 ) 130 - 162 2016.6
公共経済学における現在の租税理論と租税法：配偶者控除制度を巡る議論を中心に
國枝 繁樹
租税研究 ( 794 ) 50 - 75 2015.12
低い国債金利は、我が国の財政再建を遅らせてよいことを意味するのか？
國枝 繁樹
一橋経済学 9 ( 1 ) 9 - 43 2015.7
Is Alesina's Augment on the Tax-Spending Mix in Fiscal Consolidation Applicable to Japan?
國枝 繁樹
Public Policy Review 11 ( 2 ) 303 - 332 2015.3
國枝 繁樹
租税研究 ( 780 ) 152 - 177 2014.10
財政再建における増収措置と歳出削減措置の割合に関するAlesinaらの議論は我が国に適用されるのか？
國枝 繁樹
フィナンシャル・レビュー 2014 ( 120 ) 91 - 119 2014.9
國枝 繁樹
租税研究 ( 779 ) 73 - 89 2014.9
國枝 繁樹
税研 29 ( 3 ) 32 - 37 2013.9
國枝 繁樹
租税研究 ( 763 ) 4 - 30 2013.5
國枝 繁樹
租税研究 ( 761 ) 166 - 183 2013.3
新しい最適所得税理論と日本の所得税制 Reviewed
國枝 繁樹
日本経済研究 ( 67 ) 21 - 38 2012.7
國枝 繁樹
租税研究 ( 749 ) 29 - 55 2012.3
New Optimal Income Tax Theory and Japan's Income Tax System
國枝 繁樹
The Japanese Economy 39 ( 4 ) 60 - 78 2012.1
國枝 繁樹
一橋経済学 5 ( 1 ) 21 - 50 2011
國枝 繁樹
租税研究 ( 733 ) 41 - 52 2010.11
勤労所得税額控除の経済効果
國枝 繁樹
財政研究 5 96 - 106 2009.10
國枝 繁樹
租税研究 ( 718 ) 23 - 38 2009.8
Working Hours and Taxation: Does the Prescott Thesis Apply toJapan?
國枝 繁樹
The Japanese Economy 36 ( 2 ) 3 - 22 2009.7
日本企業の配当政策と税制 Reviewed
國枝繁樹, 布袋正樹
財政研究 4 165 - 183 2008.10
國枝 繁樹
日本労働研究雑誌 50 ( 575 ) 49 - 61 2008.6
國枝 繁樹
税務弘報 53 ( 8 ) 8 - 14 2005.7
國枝 繁樹
租税研究 ( 659 ) 80 - 89 2004.9
國枝 繁樹
国際税制研究 ( 11 ) 107 - 121 2003.10
コーポレート・ファイナンスと税制
國枝 繁樹
フィナンシャル・レビュー ( 65 ) 108 - 125 2003.10
Japanese pension reform: Can we get out of intergenerational exploitation?
S Kunieda
HITOTSUBASHI JOURNAL OF ECONOMICS 43 ( 2 ) 57 - 71 2002.12
國枝 繁樹
フィナンシャル・レビュー ( 65 ) 108 - 125 2002.10
國枝 繁樹
証券アナリストジャーナル 38 ( 5 ) 69 - 83 2000.5
國枝 繁樹
国際税制研究 ( 4 ) 59 - 84 2000.4
國枝 繁樹
国際税制研究 ( 3 ) 103 - 125 1999.10
特定目的会社による特定資産の流動化に関する法律及びその関係法律の整備法の概要(下）
國枝 繁樹
NBL 649 ( 649 ) 24 - 30 1998.9
特定目的会社による特定資産の流動化に関する法律及びその関係法律の整備法の概要(上）
國枝 繁樹
NBL 647 ( 647 ) 25 - 32 1998.8
日本の家計の資産形成 : 私的年金の役割と税制のあり方
日本証券経済研究所（ Role： Joint author第８章 経済格差と金融税制）
中央経済社,中央経済グループパブリッシング(発売) 2023.7 （ ISBN:9784502466410 ）
企業課税をめぐる最近の展開
國枝繁樹（ Role： Contributor第３章 企業貯蓄と税制：予備的考察）
日本証券経済研究所 2020.6
現代租税法講座第１巻 理論・歴史
（ Role： Contributor第９章 租税法と公共経済学）
日本評論社 2017.5
リスクと税制
（ Role： Contributor第２章 バブルと税制：再考）
日本証券経済研究所 2016.11
金融税制と租税体系
証券税制研究会（ Role： Joint author担当：第７章 行動経済学と金融税制）
日本証券経済研究所 2014.10
ブリーリー・マイヤーズ・アレン著 コーポレート・ファイナンス(第10版）（上下）
國枝繁樹, 藤井眞理子（ Role： Supervisor (editorial)担当：全体（共監訳））
日経ＢＰ社 2014.6
証券税制改革の論点
証券税制研究会（ Role： Joint author担当：第１章 金融危機後の金融関連税制）
日本証券経済研究所 2012.9
資産所得課税の新潮流
証券税制研究会（ Role： Joint author担当：第１章 ニュー・ダイナミック・パブリック・ファイナンスと資本課税）
日本証券経済研究所 2010.9
バブル/デフレ期の日本経済と経済政策５：財政政策と社会保障
井堀利宏その他（ Role： Joint author担当：第９章 税制）
慶応義塾大学出版会 2009.12
金融所得課税の基本問題
証券税制研究会（ Role： Joint author担当：第２章 金融サービスに対する消費課税のあり方について）
日本証券経済研究所 2008.9
生活保護の経済分析
阿部彩, 國枝繁樹, 鈴木亘, 林正義（ Role： Joint author担当：第２章 公的扶助の経済理論Ⅰ：公的扶助と労働供給|rn|担当：第３章 公的扶助の経済理論Ⅱ：公的扶助と公的年金）
東京大学出版会 2008.3
経済格差の研究
貝塚啓明その他（ Role： Joint author担当：第８章 相続税と経済格差）
中央経済社 2006.12
企業行動の新展開と税制
証券税制研究会（ Role： Joint author担当：第４章 業績連動型報酬と税制）
日本証券経済研究所 2006.9
日本の財政改革
青木昌彦その他（ Role： Joint author担当：第９章 税制改革の政治経済学）
東洋経済新報社 2004.12
調査報告書：公的年金積立金運用のあり方について：予備的考察
2015.9
消費増税延期と財政（中）：党利党略優先、再建遅れも
2014.12
調査報告書：安全資産としての国債
2014.9
法人税率引き下げ今は効果なし
2014.6
税収が上がる企業課税とは何か 投資減税後に法人税率の引き下げを (特集 消費税、相続税から社会保険料まで 大増税が来る!!) -- (増税ニッポンの未来を知る)
國枝 繁樹
週刊東洋経済 = Weekly toyo keizai ( 6507 ) 54 - 55 2014.2
投資減税後に法人税率の引下げを
2014.2
92 ( 3 ) 78 - 79 2014.1
「慎重」見通しで財政再建を 消費増税後の課題(下) （経済教室）
2013.10
消費増税を考える４：低所得者への配慮視野へ （経済教室）
2010.3
調査報告書：公的金融の現代的役割について
2009.9
米オバマ政権の税制改革：所得の再分配を重視 （経済教室）
2009.4
國枝 繁樹
ESP ( 520 ) 43 - 46 2009.3
財源確保 慎重予測前提に （経済教室）
2007.11
調査報告書：我が国の金融税制のあり方について
2007.9
インタビュー：成長を考える 識者に聞く
2006.12
国枝 繁樹
租税研究 ( 676 ) 44 - 53 2006.2
国枝 繁樹
税研 16 ( 2 ) 60 - 67 2000.9
「特定目的会社による特定資産の流動化に関する法律」およびその関係法律の整備法の概要
国枝 繁樹
旬刊金融法務事情 46 ( 21 ) 6 - 19 1998.8
我が国の高額所得者の所得分布
國枝繁樹
日本財政学会第８０回全国大会（九州大学） 2023.10
日本の所得税制に関する税務データに基づく分析の意義
國枝繁樹
日本経済学会2023年秋季大会 2023.9
A Price Discrimination Model of Digital Taxation
2022.10
"Modern Money Theory" as the Ricardian Equivalence with Seigniorage under a Liquidity Trap
International Institute of Public Finance (IIPF) 2022.8
A Price Discrimination Model of Digital Taxation
International Institute of Public Finance (IIPF) 2022.8
A Price Discrimination Model of Digital Taxation International conference
International Conference on Public Economic Theory (PET2022) ( フランス・マルセイユ ) 2022.6
国際的なデジタル課税の理論的基礎：個人情報を利用した価格差別の場合
日本経済学会春季大会（オンライン） 2022.5
An Exploration of the Relation among Financial Literacy, Numeracy, Overconfidence and Risk Asset Investment of the Aged in Japan
國枝繁樹
第78回日本財政学会（オンライン） ( オンライン ) 2021.10
An Exploration of the Relation among Financial Literacy, Numeracy, Overconfidence and Risk Asset Investment of the Aged in Japan
國枝繁樹
日本経済学会秋季大会2021 （オンライン） 2021.10
The Effects of Numeracy and Risk Aversion on Portfolio Choice of the Aged and Their Implications on Capital Income Tax Policy in Japan International conference
Shigeki Kunieda
International Institute of Public Finance Annual Congress 2021 (online) ( Online ) 2021.8 International Institute of Public Finance
Modern Monetary Theory as the Ricardian Equivalence with Seigniorage in a Liquidity Trap
國枝繁樹
第77回日本財政学会（オンライン） 2020.10
Modern Monetary Theory as the Ricardian Equivalence with Seigniorage in a Liquidity Trap
國枝繁樹
日本経済学会秋季大会（オンライン） 2020.10
The Effects of Numeracy and Risk Aversion on Portfolio Choice of the Aged and Their Implications on Capital Income Tax Policy in Japan
國枝繁樹
日本経済学会春季大会（オンライン） 2020.5
The Effects of Numeracy and Risk Aversion on Portfolio Choice of the Aged in Japan International conference
World Fianance Banking Symposium (University of Delhi) 2019.12
The Effects of Numeracy and Risk Aversion on Portfolio Choice of the Aged and Their Implications on Capital Income Tax Policy in Japan
第76回日本財政学会（横浜国立大学） 2019.10
GDP-linked Bonds in Japan and Their Implications on Public Pension Policy International conference
Shigeki Kunieda
75th Annual Congress of the International Institute of Public Finance (IIPF 2019) ( University of Glasgow ) 2019.8 International Institute of Public Finance (IIPF)
Speculative Bubbles and Tax Policy International conference
Shigeki Kunieda
75th Annual Congress of the International Institute of Public Finance (IIPF 2019) ( University of Glasgow ) 2019.8 International Institute of Public Finance (IIPF)
The Effects of Numeracy and Risk Aversion on Portfolio Choice of the Aged and Their Implications on Capital Income Tax Policy in Japan International conference
Shigeki Kunieda
International Conference on Public Economic Theory (PET) 2019 ( University of Strasbourg ) 2019.7
GDP-linked Bonds in Japan and Their Implications on Public Pension Policy
國枝繁樹
日本経済学会2019年度春季大会 ( 武蔵大学 ) 2019.6 日本経済学会
高齢者の資産選択と税制
第７５回日本財政学会 ( 香川大学 ) 2018.10
GDP-linked Bonds in Japan and Their Implications on Public Pension Policy International conference
International Conference on Public Economic Theory (PET2018 Hue) ( ベトナム フエ ) 2018.6 Association of Public Economic Theory
Taxes and the Debt Policy of Japanese Firms International conference
World Finance Confrence ( イタリア カリアリ大学 ) 2017.7
Magical Economic Policy: An Explanation of Fiscal Fatigue
International Institute of Public Finance 2016.8
Speculative Bubbles and Tax Policy
International Institute of Public Finance 2016.8
Fiscal Policy in a Rare Disasters Model: Bohn meets Barro in Japan
International Institute of Public Finance 2015.8
Is Alesina's Augment on the Tax-Spending Mix in Fiscal Consolidation Applicable to Japan?
International Institute of Public Finance 2015.8
Is Alesina's Augment on the Tax-Spending Mix in Fiscal Consolidation Applicable to Japan?
Public Choice Society 2015.3
Rare Disasters and Fiscal Policy: Bohn meets Barro in Japan
Association of Public Economic Theory 2014.7
Why are Magical Economic Policies Chosen?
Public Choice Society 2014.3
Why are Magical Economic Policies Chosen?
International Institute of Public Finance 2013.8
Speculative Bubbles and Tax Policy
International Institute of Public Finance 2011.8
Japanese Firm's Debt Policy and Tax Policy
Shigeki Kunieda, Junichiro Takahata, Haruna Yada
International Institute of Public Finance 2010.8
日経・経済図書文化賞
2008.11 日本経済新聞・日本経済研究センター 「生活保護の経済分析」への授与
A Study on Personal Income Tax based on Japanese Tax Administration Data
Grant number：23K01426 2023.4 - 2026.3
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C) Chuo University
Grant amount： \3510000 （ Direct Cost: \2700000 、 Indirect Cost： \810000 ）
財政危機の経済分析
Grant number：22H00859 2022.4 - 2026.3
日本学術振興会 科学研究費助成事業 基盤研究(B) 関西学院大学
亀田 啓悟, 宮崎 智視, 国枝 繁樹
Grant amount： \10140000 （ Direct Cost: \7800000 、 Indirect Cost： \2340000 ）
A Study of the Effects of Taxes on Household Portfolio and Corporate Financial Policy in Japan
Grant number：20K01713 2020.4 - 2023.3
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C) Chuo University
Grant amount： \3510000 （ Direct Cost: \2700000 、 Indirect Cost： \810000 ）
Research on Capital Taxation
Grant number：17K03758 2017.4 - 2020.3
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C)
Kunieda Shigeki
Grant amount： \3250000 （ Direct Cost: \2500000 、 Indirect Cost： \750000 ）
In this study of capital taxation, we analyze Japanese capital income tax policy based on behavioral economics, speculative bubbles and tax policy, and the effects of tac policy on Japanese firms' debt policy. Especially, we conduct a new internet survey with 1758 samples between 45 and 79 years old, and have some interesting results as below. Numeracy decreases after 60 years old. Absolute risk aversion increases with lower numeracy. Risk aversion affects portfolio choice. Higher numeracy, overconfidence, college or higher education, homeownership and larger financial wealth increase risk portfolio investment. We do not need the tax policy encouraging risk investment of the aged in Japan.
Theoretical and Empirical Analyses on Sovereign Yields
Grant number：16H03637 2016.4 - 2020.3
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (B) Kwansei Gakuin University
Kameda Keigo
Grant amount： \15990000 （ Direct Cost: \12300000 、 Indirect Cost： \3690000 ）
In this study, we conducted an empirical analysis of the relationship between Japan's public finances and long-term interest rates, overcoming methodological problems that remain in previous studies. Specifically, we constructed a daily "fiscal sentiment index" using natural language processing technology on textual information and regressed it on Japan's government bond interest rate. As a result, we confirmed that an increase in fiscal sentiment index significantly raises the JGB interest rate. In addition, we examined the impact of huge risks such as natural disasters and the existence of home bias on the JGB market. Moreover, as related research, we conducted (1) research on procyclical fiscal policies and (2) research on the productivity of social capital and public investment.
Risk management for market and public sectors: Asian perspective on public sector
Grant number：24330100 2012.4 - 2015.3
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (B) Hitotsubashi University
SATO Motohiro, TAJIKA Eiji, TAKAHASHI Shigeru, WATANABE Satoshi, YAMASHIGE Shinji, KUNIEDA Shigeki, AKIYAMA Nobumasa, II Masako, TAKEUCHI Kan
Grant amount： \15730000 （ Direct Cost: \12100000 、 Indirect Cost： \3630000 ）
This is a study on risk management of public sector in Asia. We undertake a comprehensive approach to cover various risks including natural disaster, fiscal deficit, PPP (public and private partnership), food fraud, nuclear proliferation and so on that have been increasingly concerned in Japan and emerging economies in Asia. The project is collaborative work of economics and law researcher and is not only academic work but also policy minded proposing a reform to cope with the above mentioned risks. We also develop research network with some public policy schools in China. This project produced many outcomes: research papers were individually published and the papers are now being prepared to be published in journals of the institute.
Comprehensive Reform of Tax and Social-Security Systems in Japan
Grant number：20243022 2008 - 2011
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (A) Hitotsubashi University
TAJIKA Eiji, WATANABE Satoshi, SATO Motohiro, YAMASHIGE Shinji, KUNIEDA Shigeki, TAKEUCHI Kan, BESSHO Shunichiro, HAYASHI Masayoshi, KOBAYASHI Wataru, YUI Yuji, KAWAGUCHI Hiroyuki, KIKUCHI Jun
Grant amount： \37830000 （ Direct Cost: \29100000 、 Indirect Cost： \8730000 ）
This is a study on Japanese tax and social-security policies. Japan has long been in a deflationary situation since the collapse of the bubble at the beginning of the 1990s, and the fiscal situation has been deteriorated due to successive fiscal stimulus policies. Under these circumstances, a comprehensive approach encompassing tax and social-security policies is one of the most sought-after types of research, and this project has been organized to deal with the issues from this perspective.
This project produced many outcomes : research papers were not only individually published, but made public by a collected volume ; a policy forum was organized with participation of a minister of the government in charge ; a symposium was carried out jointly with Policy Research Institute of the Ministry of Finance and the papers presented there are now being prepared to be published in journals of the institute ; and two books on population dynamics and family will be published.
Tax and Fiscal Reforms in Asia: Responses to Aging Population and Globalization
Grant number：17203024 2005 - 2007
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (A) Hitotsubashi University
TAJIKA Eiji, WATANABE Satoshi, KUNIEDA Shigeki, HAYASHI Masayoshi, NAITO Hisahiro, SATO Motohiro
Grant amount： \48620000 （ Direct Cost: \37400000 、 Indirect Cost： \11220000 ）
In FY2007, we continued our research on social security issues, particularly on public assistance, and on taxation issues in Asia.
On social security, we held four seminars on public assistance and had discussions with researchers in Japan and from abroad. Based on these discussions, we published a book titled as "Economic Analysis of Public Assistance"(2008, Tokyo University Press), in which we tried to advance theoretical and empirical study on the situation in Japan. We also set up a series of lectures on public assistance in the curriculum of the School of International and Public Policy in FY2008 to ensure feedback of research on education.
On taxation, we had a joint seminar(held by Hitotsubashi University and Central Fiscal and Economic University of China)on the recent Chinese corporate tax reform and transfer pricing issues in Beijing in July 2007. A report on this joint seminar, written in both Japanese and Chinese languages, was produced. In September 2007, we distributed our booklet on Asian taxation to participants to the annual meeting of International Fiscal Association held in Kyoto. In January 2008, we had a conference on Taiwanese tax policy and international taxation issues, including their relationship with the mainland China. We invited 5 public finance economists from National Chengchi University of Taiwan. The result of this conference can be found on the web site of the School of International and Public Policy, Hitotsubashi University.
Structural Change of Public Finance and Reform of Public Accounting
Grant number：11630096 1999 - 2000
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C) Osaka University
ATODA Naosumi, KUNIEDA Shigeki, SAITO Shin
Grant amount： \3800000 （ Direct Cost: \3800000 ）
In this paper, we reviewed not only actual condition of public accounting reforms in U.S.A.and U.K.but also some experiments for such reforms in local government of Japan. Those reviews showed that it is necessary for government to explain the true financial status of himself to people with so called governmental activity reports. To put them in the concrete, they are composed of following four reports :
(1) Explanation of concept or guideline for governmental action
(2) Explanation of governmental budget, cash flow balance, and capital gain/loss
(3) Explanation of asset and debt which present results of governmental policy
(4) Explanation of impact and outcome of governmental policy
We tried to produce balance of revenue and expenditure for (2) and balance sheet for (3) by using Japanese national accounting data. The former is consist of cash flow table according to cash basis and changing table of governmental net worth according to accrual basis. The later is B/S that includes depreciation, retirement debt, and capital gain/loss because of accrual basis standing.
Introduction of accrual basis to public accounting cleared up debt of 50 trillion by depreciation and 22 trillion by retirement debt on B/S.Furthermore, though cash flow balance according to cash basis was getting worse and worse since 1990, ballanc of revenue and expenditure according to accrual basis has taken a sudden turn for the worse from 1995. These results imply that financial evaluation according to only cash basis may introduce to bad policy selection and produce unintended policy effects.
