This paper provides numerical examinations on sustainability of genuine saving (GS) using theWorld Bank database. Unlikely to previous criteria of sustainability, we consider future sustainability by focusing on evolution of GS. In this case even if the historical average GS of a country is...

Developing countries have increased sanitation investment to reduce diarrheal diseases. However, the direct health benefits of latrine construction can be offset by water pollution externalities due to poor treatment of fecal sludge. I estimate these negative externalities of a sanitation policy...

This paper presents a numerical examination of sustainability from the perspective of quot;Genuine Savings,quot; using a data set provided by the World Bank. Unlike previously-used criteria of sustainability that focuses on observed paths of genuine savings rates, we consider future...

Developing countries have increased sanitation investment to reduce diarrheal diseases. However, the direct health benefits of latrine construction can be offset by water pollution externalities due to poor treatment of fecal sludge. I estimate these negative externalities of a sanitation policy...

This paper examines the role of dual sourcing (e.g., outside options) in vertical and horizontal relations. In a bilateral monopoly market, if either the upstream or downstream firm has outside options, the other firm could lose from seemingly positive shocks, e.g., market expansion or...

Tax changes are often announced before their implementation and are not permanent, but rather only temporary. Accordingly, R&D firms will optimally adjust their investment decisions to fit tax schedule changes. This study analyzes how changes in various tax rates relevant to corporate activities...

We investigate a Cournot model with strategic R&D investments wherein efficient low-cost firms compete against less efficient high-cost firms. We find that an increase in the number of high-cost firms can stimulate R&D by the low-cost firms, while it always reduces R&D by the high-cost firms....

This paper combines three prototype endogenous growth models, the models with human capital accumulation introduced by Uzawa [1965] and Lucas [1988], variety expansion by Romer [1990], and quality improvements by Aghion and Howitt [1992], in order to investigate how these three engines of growth...

We investigate the incentive and the welfare implications of a merger when heterogeneous oligopolists compete both in process R&D and on the product market. We examine how a merger affects the output, investment, and profits of firms, whether firms have merger incentives, and, if so, whether...

This paper investigates an asymmetric duopoly model with a Hotelling line. We find that helping a small (minor) firm can reduce both social and consumer surplus. This makes a sharp contrast to existing works showing that helping minor firms can reduce social surplus but always improves consumer...