Minchung Hsu

Associate Professor

National Graduate Institute for Policy Studies (GRIPS)


Tel: +81-3-6439-6186

Email: minchunghsu@grips.ac.jp

Address: 7-22-1 Roppongi, Minato-ku

Tokyo 106-8677, Japan







C.V. (PDF)






Research Interests:

Health Insurance and Social Insurance Programs, Public Finance and Macroeconomic Policy,  Population Aging/Demographic Changes


1.   The Development of Universal Health Insurance Coverage in Thailand: Challenges of Population Aging and Informal Economy (with Xianguo Huang and Somrasri Yupho), 2015, Social Science & Medicine, forthcoming   working paper with technical details  (2014 impact factor: 2.89; 5 year: 3.54)

2.  Financing National Health Insurance: Challenge of Fast Population Aging (with Pei-Ju Liao), Taiwan Economic Review (Special Issue of Macroeconomic Theory and Empirics), 2015 43:2, 145-182   paper

3.   Health Insurance Reform – The Impact of a Medicare Buy-in (with Gary Hansen and Junsang Lee), 2014,  Journal of Economic Dynamics and Control, 45, 315-329  working paper

4.  Optimal Linear and Two-bracket Income Taxes with Idiosyncratic Earnings Risk (with CC Yang), 2013,  Journal of Public Economics, 105:6, 58-71.
working paper

5.  Health Insurance and Precautionary Saving – A Structural Analysis, 2013,
Review of Economic Dynamics, 16:3, 511-526  working paper

6.  The Provision of Public Universal Health Insurance: Impacts on Private Insurance, Asset  Holdings and Welfare (with Junsang Lee), 2013, Macroeconomic Dynamics, 17:6, 1252-1280  working paper

7.  China’s Economic Fluctuations and Consumption Smoothing: Is Consumption More Volatile than Output in China?  (with Min Zhao), 2012, 
China Economic Review, 23:4 ,918–927 working paper  Supplemental material (consumer durables  1981-2006)


Working Papers:  

Financing Health Care in Japan: A Rapidly Aging Population and the Dilemma of Reforms (with Tomoaki Yamada), 2012, working paper  (R&R)

Revisiting Private Health Insurance and Precautionary Saving: A Theoretical and Empirical Analysis (with Per-Ju Liao and CC Lin), First version: 2011; current: 2013, working paper.

China’s Business Cycles between 1954 – 2004: Productivity and Fiscal Policy Changes (with Min Zhao), 2009, MPRA Paper 21283

Determinants of Foreign Direct Investment into China: Do Tax Incentives Matter? (with Yanqing Zhao and Roberto Leon Gonzalez), 2011, working paper

Accounting for China's Long-term Growth: How Important is Demographic Change (with Pei-Ju Liao and Min Zhao), 2010, working paper

Population Policy and Economic Growth: Impacts of Deviation from the One-Child Policy in China (with Pei-Ju Liao and Min Zhao), 2009, working paper

Work in Progress:  

Optimal piecewise linear income tax (with CC Yang)

Medicaid and long-term care insurance (with Gary Hansen and Elena Capatina)

Low Fertility, Rapid Aging and Fiscal Challenges with the Presence of Informal Employment (with Tanyasorn Ekapirak and Per-Ju Liao)

Revisiting tax policy on employer-sponsored health insurance: is it still necessary (with Gary Hansen and Junsang Lee)