Contents: Preface -- 1. Introduction and overview / Dongchul Cho, Takatoshi Ito and Andrew Mason -- Part I Aging, industry maturation and Japanization -- 2. Japanization: is it spreading to the rest of the world? / Takatoshi Ito -- 3. GDP growth from the perspective of demographic change: will...

Nobel Prize winner James Tobin has made outstanding contributions to modern macroeconomics. In this final collection of his work he examines the economic policies of the United States and its relations with other major economies after 1990. In James Tobin's view, the welfare of populations...

There is much confusion in the economics literature on wage determination and the employment-inflation trade-off. Few model builders pay as much careful attention to the definition and meaning of long-run concepts as did Albert Ando. Expanding on years of painstaking work by Ando, the...

Colombia has reduced extreme poverty in the past 16 years by almost half, moderate poverty by 22 percentage points, and made more than four million Colombians jump the threshold of multidimensional poverty. However, it remains one of the most unequal countries in the region, after Brazil and...

Fiscal policy is central to not only macroeconomic stability and growth, but also to poverty and inequality reduction. This paper provides the most comprehensive assessment of the distributional incidence of Turkey's fiscal policy to date. It analyzes the combined and individual incidence of...

This study assesses the redistributive effects of fiscal policy in Mali and Niger. Fiscal policy is poverty increasing in Mali (by 2.4 percentage points) and Niger (2.5 percentage points). This is a result of primarily two factors: indirect taxes (value-added taxes and import duties) and direct...