The purpose of this paper is to examine, using choice experiments, the Japanese consumers’ valuation of domestic Wagyu beef, domestic dairy beef, Australian beef, and US beef when considering their bovine spongiform encephalopathy (BSE) test status. Some Japanese consumers give high priority...

Keynes' "liquidity trap" rarely occurs. But when it does, it has a tremendously adverse effect on the economy concerned. Such was the case of the United States in the 1930s and now that of contemporary Japan. In a liquidity trap, monetary policy pushes the money interest rate to the zero level...