This paper describes the basic structure and multipliers of the 2015 version of The ESRI Short-Run Macroeconometric Model of the Japanese Economy, which was first released in 1998. The model is basically a demand-oriented, traditional Keynesian model with IS-LM-BP framework; however, it adopts...

Because habit formation among consumers preference has strong influence on policy effects, it is crucially important for public policy management. In this article, I estimate the Euler equation allowing habit formation based on Dynan (2000), using data from the Japanese Panel Survey of Consumers...

This paper describes the basic structure and multipliers of the 2010 revised version of The ESRI Short-Run Macroeconometric Model of the Japanese Economy, which was first released in 1998. The model is basically a demand-oriented, traditional Keynesian-type model with an IS-LM-BP framework;...

This paper describes the basic structure and multipliers of the 2008 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...