To investigate how fertility rates interrelate with the modern economy, we construct a simple model in which variety expansion of consumption goods reduces fertility rates. In our model, variety expansion reduces the relative price of a composite of differentiated goods compared to child-...

This study theoretically investigates the effects of educational envy on schooling decisions. I develop a model where in workers enjoy utility from their levels of education and consumption. Moreover, workerfs utility also depends on other workerfs education levels, i.e., we assume the gkeeping...

The accumulation of pollution negatively impacts human health. Extreme increases in pollution, in particular, may have lethal implications for human beings|and, indeed, all living organisms. This paper thus devises a new model of economic growth that takes into account these lethal effects of...

This study constructs a variety expansion growth model that integrates basic research to analytically examine its effects on household welfare. In our approach, the research sector consists of applied and basic research components. The former creates blueprints and expands the variety of goods...

This study examines growth cycles in a simple discrete-time two-country model of in- novation. In this setting, we find that there are two key driving forces that give rise to cycles. They are perfect international capital mobility and perfect international knowledge spillovers. In addition,...

An overlapping generations model with the double infinity of commodities and agents is the most fundamental framework to introduce outside money into a static economic model. In this model, competitive equilibria may not necessarily be Pareto-optimal. Although Samuelson (1958) emphasized the...

By using the panel data of 59 semiconductor companies in 2001-2013 this study investigates the characteristics of financial condition of each product segment and explores the effective product line policy in semiconductor industry. Semiconductor is well-known as one of the fundamental products...

This article clarifies the management of peasant households in the Tsugaru district of the Aomori Prefecture between the 1870s and 1930s, especially focusing on the relationship between the advances in agricultural technology and the labor allocation strategy of the peasant households. We...

Life-Cycle/Permanent Income Hypothesis (LCPIH) could be decomposed into the following three hypotheses: (1) Rational expectation in a narrow sense; (2) Householdsf having planning ability; and (3) Householdsf having execution ability for his optimal consumption plan. We test the LCPIH by parts,...

This paper develops an overlapping generations model that involves the endogenous determination of fertility and an explicit city structure in order to analyze fully the social and natural changes in city populations. We provide conditions under which the model exhibits the spatial features of...