In March, 1999, the Japanese Government handed out "shopping coupons" worth 20,000 yen (about 200 dollars) to families for every child under the age of 15 and to roughly half of Japan's elderly population. In total, 25 percent of Japan's population received the coupons. The coupons expired after...

1. Research Theme It has been pointed out that the existence or rise in unemployment rate caused by 'mismatch' in labor market is one of the major factors for recent continuous high unemployment rate in our country. Such 'mismatch' has often been regarded as coming from technical problems, which...

This paper tests for the presence of market discipline by examining the effects of deposit-taking institutions' risk on the growth of deposits. The study analyzes a large panel of 689 small deposit-taking institutions (shinkin banks and credit cooperatives) in Japan during the period from FY...

This paper describes the basic structure and multipliers of the 2004 revised version of the ESRI Short-Run Macroeconometric Model of the Japanese Economy, which was firstly released in 1998 (Hori et al. [1998]). The following are some of the multipliers of our policy simulations. The peak of...

This paper attempts to introduce forward-looking expectations to the ESRI Short-Run Macroeconomic Model. The effects of changes in fiscal and monetary policy are evaluated under two alternative expectation formations, namely, adaptive expectations and forward-looking ones. For the latter,...

This study analyzes a panel of nearly 800 deposit-taking institutions in Japan during the period from March 1992 to March 2003. We are concerned with two questions that are relevant to the design of a new regulatory framework for Japanese banking: 1) whether depositors respond to bank risks as...

This paper describes the basic structure and multipliers of the 2005 revised version of The ESRI Short-Run Macroeconometric Model of the Japanese Economy, which was first released in 1998 (Hori et al. [1998]). The model is basically a demand-oriented, traditional Keynesian-type model with an...

Taking advantage of annual panel data on farm households collected by the Statistical Survey on Farm Management and Economy, this paper investigates whether a retirement consumption puzzle can be observed in Japan and, given that this is the case, what the reasons are. Our long-run panel data...

This paper tries to quantitatively examine the impact of intergenerational transfers on asset inequality among Japanese households. For that purpose, we estimate an intergenerational asset transfer function with various control variables, using a unique micro dataset taken from the "Household...

Despite the prolonged recession and sizable environmental changes after the burst of the Japanese economic bubble, a drastic degeneration has not been seen, either in seniority-based wages or in Japan's practice of lifetime employment, in the previous studies analyzing the negative impact of...