HSU, Minchung

Position Associate Professor
Degree Ph.D. in Economics, University of California, Los Angeles (UCLA)
Specialty Macroeconomics, Health Insurance, Social Insurance, Demographic Changes and Growth, Public Policy, Economic Dynamics
Current Research Interests Health insurance and Social Insurance Systems, Population Aging, Public and Macroeconomic Policies
  • Professional Career

2016 Associate Director of Macroeconomic Policy Program, GRIPS

2013 Associate Professor, GRIPS

2007 Assistant Professor, GRIPS

2017 Visiting Researcher, UCLA

2012 Visiting Scholar, Academia Sinica (summer)

2009 Visiting Scholar, National Taiwan University (summer)



  • Selected publications
Economic fluctuations, volatility changes and the role of government spending in China: A structural analysis (with Junsang Lee and Min Zhao), Pacific Economic Review Wiley, 2019
Population Aging, Health Care and Fiscal Policy Reform: The Challenges for Japan (with Tomoaki Yamada), Scandinavian Journal of Economics, Wiley, 2019, 121-2, 547-577
Demographic Change and Long-term Growth in China: Past Developments and the Future Challenge of Aging (with Pei-Ju Liao and Min Zhao), Review of Development Economics, Wiley, 2018, 22, 928–952
Tax incentives and foreign direct investment in China (with Junsang Lee, Roberto Leon-Gonzalez & and Yanqing Zhao) Applied Economics Letters, Routledge, 2018, 26:9, 777-780
The Development of Universal Health Insurance Coverage in Thailand: Challenges of Population Aging and Informal Economy (with Xianguo Huang and Somrasri Yupho), Social Science & Medicine, Elsevier, 2015, 145, 227-236 (2014 impact factor: 2.89; 5 year: 3.54)
Financing National Health Insurance: Challenge of Fast Population Aging (with Pei-Ju Liao), Taiwan Economic Review (Issue of Macroeconomic-Theory and Empirics), 2015 43:2, 145-182
Health Insurance Reform – The Impact of a Medicare Buy-in (with Gary Hansen and Junsang Lee) , Journal of Economic Dynamics and Control, Elsevier, 2014, 45, 315-329
Optimal Linear and Two-bracket Income Taxes with Idiosyncratic Earnings Risk (with CC Yang), 2013, Journal of Public Economics, 105:6, 58-71.
Health Insurance and Precautionary Saving – A Structural Analysis, 2013, Review of Economic Dynamics, 16:3, 511-526
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
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


  • Other notable activities and achievements

Honors and Awards

Japan Society for the Promotion of Science (JSPS) Research Grant 2017-2020

Nomura Foundation International Exchange Grant 2017-2018

JSPS Research Grant for the Promotion of Joint International Research 2016-2018

GRIPS Policy Research Center Project Grant 2015-2016

JSPS Research Grant 2014-2016

GRIPS Policy Research Center Project Grant 2013-2014

Nomura Foundation International Exchange Grant 2013-2014

JSPS Research Grant 2010-2012


Academic Service

1.Journal Referee:
American Economic Review, American Economic Journal: Macroeconomics,
Academia Economic Papers, International Economic Review,
Japanese Economic Review, Journal of Economic Dynamics and Control
2.Conference organizer:
2008 -- GRIPS International Conference of Macroeconomics and Policy



  • Personal website



  • e-mail: minchunghsu

*Please add”@grips.ac.jp” to send a message.


  • CV



7-22-1 Roppongi, Minato-ku, Tokyo 106-8677

TEL : +81-(0)3-6439-6000     FAX : +81-(0)3-6439-6010


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