Evidence on the effect of the social security earnings test on the labor supply of the elderly continues to be mixed. We utilize micro-level data compiled by the Japanese government in order to examine the labor supply effect for those aged 65-69 before and after two major reforms of the social...

This paper examines the effectiveness of public credit guarantee programs in not only increasing the availability of loans to small and medium enterprises (SMEs), but in also improving the ex-post performance of borrowing firms. Using a unique panel data set, we identify the effects of a massive...

Ranking infinite utility streams includes many impossibility results, most involving certain Pareto, anonymity, or continuity requirements. We introduce the concept of the future agreement extension, a method that explicitly extends orderings on finite time horizon to an infinite time horizon....

This paper reviews and compares patent pools and intellectual property clearinghouses as alternative systems for efficient access to licensable intellectual property in a 'market for technology' (Arora et al 2001). These systems improve aid downstream research and development by economizing on...

Despite a decrease in the number of working generations supporting Japan's social security system, the relationship between public pension benefits and health care expenditures since the inception of universal health insurance system has not been explored. We obtained one stable long-run...

We present an alternative explanation of the positive relationship between total fertility rate (TFR) and female labor participation rate (FLPR) observed in recent cross section of OECD countries. We first show quality adjusted consumption is related to fertility and female labor supply in a...