In this paper, we conduct a theoretical analysis of personal taxes (defined to include consumption and income taxes), describe and evaluate the past and present structure of personal taxes in Japan, and based on our findings, make a number of policy recommendations about how to reform personal...

This paper examines the optimal entry policy towards oligopoly in a globalized world. In an open economy free entry is socially suboptimal, but corrective tax policy to curb entry proves insufficient unless internationally harmonized. Thus, while conferring the gains from trade, globalization...

We construct a monopolistic competition model considering different markups across industries and firm-level heterogeneity of productivity. An excess entry occurs in low-markup (competitive) industry, and vice versa in high-markup (non-competitive) industry. To achieve the optimum allocation, a...

In this paper, we conduct a theoretical analysis of the consumption and income taxes from the viewpoints of efficiency and equity, we evaluate the past and present structure of Japan’s consumption and income taxes, we consider the role of the consumption tax in stimulating the economy, in...

Recently, several papers have re-examined the so-called production efficiency theorem and the Atkinson and Stiglitz theorem on commodity taxes in the optimal taxation literature. Naito (1999) showed that indirect redistribution through production distortion or consumption distortion can...

Recently, several papers have re-examined the so called production efficiency theorem and the Atkinson and Stiglitz theorem on commodity taxes in the optimal taxation literature. Naito (1998) showed that indirect redistribution through production distortion or consumption distortion can...

I study the welfare implications of size-dependent firm regulation policies (SDPs) in the presence of entrepreneurial risks. Although SDP has been considered a source of misallocation, I show that, once entrepreneurial risks are taken into account, SDP can improve efficiency. Quantitatively, I...

This paper reports experiments that elicit subjects' initial responses to 16 dominancesolvable two-person guessing games. The structure is publicly announced except for varying payoff parameters, to which subjects are given free access, game by game, through an interface that records their...

Using data on one-shot games, we investigate the assumption that players respond to underlying expectations about their opponent’s behavior. In our laboratory experiments, subjects play a set of 14 two-person 3x3 games, and state first order beliefs about their opponent’s behavior. The sets...