This study examines whether or not aging is increasing the political influence wielded by Japan’s elderly and promoting a so-called “gray democracy.” Using a median voter model based on data from Japan’s 47 prefectures during the period from 2000 to 2010, we examined the relationship...

We employed the Generational Accounting model in estimating the generation-specific lifetime (both past and the future) benefits/burdens and income and evaluating their values as of 2010, thus estimating the lifetime net burden ratio (= lifetime net burden/lifetime income). As a result, the...

This paper uses a two-period overlapping generations model in order to provide a theoretical design for an optimal public pension system based on a partial equilibrium analysis. Household preferences only depend on two periods consumption and leisure and is homogeneous of degree m with respect...

From the standpoint of reconciling heightened earthquake risk with sound fiscal policy, this paper performs a simplified simulation analysis of obtainable risk reduction in proportion to reinsurance premiums to explore the potential for improving the claims-paying capacity of Japan’s...

This paper constructs an overlapping generations model in order to demonstrate low political intervention and interaction in the working and retired generations affect the allocation rate in future growth-stimulating public investment and the public pension. It also analyzes the possibility of...

We present results from a survey conducted in December 2011, in order to see if introduction of Demeny voting system will have the desired have effect of addressing gerentocracy. We have identified several facts from the survey that provides a positive answer to this question. We found that...

We look at cumulative innovations and the protection of basic research which does not carry stand-alone commercial values in an international setting. Due to the complementarity of the innovations, we ・d that for some parameter range, technology leading countries do not always prefer the...

We develop a framework to examine how a standard evolves when a standard consortium or firm (incumbent) innovates either to improve the standard or to strengthen the installed base, which increases switching costs. Both investments make it more difficult for another firm (entrant) to introduce a...