The close economic relationship between the US and Japan raises an interesting question about the effect of price movements in the US and Japan on the bilateral exchange rate. This paper investigates the long-run purchasing power parity between the US dollar and the Japanese yen. While earlier...

The empirical results reported in this paper suggest that only about 20% of the aggregate effects of public investment in highways in the US are captured by the direct effects on each state output of public investment in the state itself. The remaining 80% correspond to the spillover effects...

We estimate the long-term impact of changes in social security and social protection spending on economic performance in the United states. We estimate a VAR model relating GDP, unemployment rates, saving rates and social spending. Our results suggest that social spending has significant...