The purpose of this paper is to evaluate the Japanese deposit insurance scheme by contrasting the flat insurance rate with a market-determined risk-adjusted rate. The model used to calculate the risk-adjusted rate is that of Ronn and Verrna (1986) . It utilizes the notion of Merton(1977) that...

One of the proudest achievements of classical and neoclassical economics is the derivation of the superiority of free trade. This result is obtained by assuming constant returns to scale, perfect competition and absence of externalities. The recent realization that the incomplete appropriability...

Frontmatter -- CONTENTS -- Preface -- PART ONE Lectures from Fall 1993 -- 1. Bilateral Relations under New Administrations in Japan and the U.S. (September 23, 1993) -- 2. Trade Negotiations and Agreements: A Trend toward Further Liberalization (October 18, 1993) -- 3. International...

One of the proudest achievements of classical and neoclassical economics is the derivation of the superiority of free trade. This result is obtained by assuming constant returns to scale, perfect competition and absence of externalities. The recent realization that the incomplete appropriability...