The Japanese economic policy experience in the 1990s was the worst observed in the country for manydecades. The government withheld critically important economic information from the public, such as thesize of non-performing loans held by financial institutions, while policy-makers were waiting...

This paper examines three benefit measures of a large transportation improvement in a general equilibrium framework. Three issues are analyzed. The first is whether the measures can be reduced to the area to the left of a suitably defined transportation demand curve. Second, the measures are...