The purpose of this paper is to evaluate the Japanese deposit insurance scheme by contrasting the flat insurance rate with a market-determined risk-adjusted rate. The model used to calculate the risk-adjusted rate is that of Ronn and Verrna (1986) . It utilizes the notion of Merton(1977) that...

One of the proudest achievements of classical and neoclassical economics is the derivation of the superiority of free trade. This result is obtained by assuming constant returns to scale, perfect competition and absence of externalities. The recent realization that the incomplete appropriability...

This paper uses a straightforward extension of the model of a profit-maximizing firm to consider biased technical progress. The firm faces increases in produ ction costs because of differential growth in input prices. A researc h program can increase the efficiencies of these factors. The firm...