The international public good model is an extension of the public good model, allowing for different productivities of producing the public good across countries. By extending the proofs of Bergstrom <italic>et al.</italic> (1986, 1992), which are the seminal studies in the public good literature, this article...

The paper examines whether the form of job-sharing strategy adopted in Nordic countries is theoretically effective. This strategy converts workers approaching the age of retirement to part-timers by giving them partial pensions, which thereby creates job openings for younger unemployed workers....

In a recent year, the conditional expectation for technical inefficiency (i.e., the predictor) in stochastic frontier production models and its confidence interval are proved to be increasing in the individual firm's inefficiency effect, which is defined as the mean of the normal distribution...

This note re-examines the flexible-price monetary approach to the exchange rate between the Korean won and the three key currencies: the US dollar, the German mark and the Japanese yen. The note reports the important findings. First, at least one cointegrating vector exists, which indicates that...

The median is proposed as an alternative to the expectation of the conditional distribution in order to predict the technical inefficiency in stochastic frontier production models with panel data. Numerical comparison reveals that the two predictors can take different values when the...

The purpose of this article is to propose a seigniorage model including the contributions of Bailey (1956) and Marty (1976), using an alternative framework from Mankiw (1987), to test how much degree their results are supported and to estimate the seigniorage model. The government decides the...

The rapid ageing of the population and the strong desires for working by the retired old has become a serious issue on the Japanese pension management. This paper suggests a partial solution for the issue in an overlapping generation framework. It is shown that providing the old with jobs rather...