This paper uses a single‐sector dynamic stochastic general equilibrium model with heterogeneous households to analyse Japanese immigration policy. We examine the effects on output, consumption, factor prices, and utility. We do this for both steady states and transition paths. We find that: (a) aggregate output, investment, and consumption in Japan are likely to rise with any sort of loosening of immigration restrictions; (b) allowing more skilled immigration generates greater aggregate changes; (c) raising skilled immigration relative to unskilled immigration drives down skilled workers’ wages, consumption, and utility, while cutting the skilled to unskilled immigration share has the opposite effects; and (d) such immigration policy changes have small effects compared to those that occur naturally due to business cycle fluctuations

中文翻译：

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日本移民政策变化的动态影响

本文使用异质家庭的单部门动态随机一般均衡模型来分析日本的移民政策。我们研究了对产出，消费，要素价格和效用的影响。我们对稳态和过渡路径都这样做。我们发现：（a）随着对移民限制的任何放松，日本的总产出，投资和消费可能会增加；（b）允许更多熟练的移民产生更大的总体变化；（c）相对于非技术移民增加技术移民会降低技术工人的工资，消费和效用，而将技术移民减少到非技术移民的份额却有相反的效果；（d）与由于商业周期波动而自然发生的移民政策相比，这种移民政策的变化影响很小