The global financial crisis transmitted several factors which have aggravated the economic situation of the new members of the European Union on the background of their strong financial and trading relations with the developed European countries. This article is a brief presentation of some...

At the moment, very substantial reforms in the field of security are being undertaken in Japan. “The New National Defence Program Guidelines for 2005 and After”, as well as the “Midterm Defence Program Fiscal Year 2005-2009” both talk about a thorough restructuring of the Self Defence...

The adoption of the euro as a common currency in 17 of the 27 member states of the European Union was achieved in a process that did not strictly observe the recommendations of the economic theory of an optimal monetary area. The elimination of exchange rates before the establishment of European...

Stabilising the financial health of local governments, as well as restructuring their financing system gained increased attention in recent years both in Hungary and abroad. This increased attention should be emphasised on account of two reasons. Firstly, the financialeconomic rippling effect of...

This study examines the effects of central matching grants for the School Expense Assistance (SEA) in the midst of increasing child poverty in Japan. The 2005 reform replaced SEA grants with increases in general revenues through the system of Local Allocation Tax (LAT). By exploiting the facts...

This study considers the discretionary premium-setting behavior of municipalities in the Japanese system of long-term care insurance (LTCI). Although, the LTCI system is managed by the municipality, but the financial system is controlled by national health insurers, and the municipality seems to...

Political coalition formation games can describe the formation and dissolution of nations, as well as the creation of coalition governments, the establishment of political parties, and other similar phenomena. These games have been studied from a theoretical perspective, but the models have not...

Political coalition formation games can describe the formation and dissolution of nations, as well as the creation of coalition governments, the establishment of political parties, and other similar phenomena. These games have been studied from a theoretical perspective, but the models have not...

This paper presents a theoretical framework for policy making based on the “impossible trinity” or the “trilemma” hypothesis. A simple optimization model shows that placing more weight in terms of preference for each of the three open macroeconomic policies—exchange rate stability,...