We construct a theoretical model for equilibrium distribution of workers across sectors with different labor productivity, assuming that a sector can accommodate a limited number of workers which depends only on its productivity. A general formula for such distribution of productivity is...

Technological progress, especially product innovation, plays an important role in generating economic growth under the conditions of low fertility and an aging population. Technological progress is typically measured by total factor productivity (TFP) and much research is done internationally....

Under a declining population, the engine for economic growth is regarded as broadly defined technical progress or innovation. We demonstrate that the production of goods always follows logistic growth. This simple fact results from the saturation of demand for any existing goods and services....

Micro price data show that individual price settings are not time-invariant as presumed in the existing literature. Furthermore, the analysis of autocorrelations shows that interactions of micro prices with leads and lags ignored in the literature play a very important role in explaining the...

Technological progress, especially product innovation, plays an important part in generating economic growth under the conditions of low fertility and an aging population. Technological progress is typically measured by growth accounting, that is, total factor productivity (TFP). The analysis of...

This publication is in Japanese. Neither an English translation of the publication nor an English abstract is available.

This publication is in Japanese. Neither an English translation of the publication nor an English abstract is available.

Synchronization in international business cycles attracts economists and physicists as an example of self-organization in the time domain. In economics, synchronization of the business cycles has been discussed using correlation coefficients between gross domestic product (GDP) time series....

Tackling issues relating to low fertility and aging population is widely acknowledged as the most important challenge for the Japanese economy and society in the twenty-first century. There is a general consensus that given these issues of low fertility and aging population, innovation that is...

In the process of economic growth, changes of industrial structure play an important role. According to Aoki and Yoshikawa (2002), the asymmetry exists between "old" industries and "new" industries depending on different growth rates of demand. When new goods or new sectors are created, demand...