Under a declining population, the engine for economic growth is regarded as broadly defined technical progress or innovation. We demonstrate that the production of goods always follows logistic growth. This simple fact results from the saturation of demand for any existing goods and services....

Tackling issues relating to low fertility and aging population is widely acknowledged as the most important challenge for the Japanese economy and society in the twenty-first century. There is a general consensus that given these issues of low fertility and aging population, innovation that is...

In the process of economic growth, changes of industrial structure play an important role. According to Aoki and Yoshikawa (2002), the asymmetry exists between "old" industries and "new" industries depending on different growth rates of demand. When new goods or new sectors are created, demand...

Technological progress, especially product innovation, plays an important part in generating economic growth under the conditions of low fertility and an aging population. Technological progress is typically measured by growth accounting, that is, total factor productivity (TFP). The analysis of...

Technological progress, especially product innovation, plays an important role in generating economic growth under the conditions of low fertility and an aging population. Technological progress is typically measured by total factor productivity (TFP) and much research is done internationally....

We shed light on the current status of small- and medium-sized (SMS) firms in Japan by studying their distribution of labor productivity on the basis of exhaustive financial data on one million firms. In fact, the labor productivity shows significant variance in disagreement with the prediction...