In Japan, the sustainability of public finance including that of social security is of serious concern. The underlying cause is that Japan is in transition to a new phase of economy and society because of medium-term changes in the revealed preferences of people about their lifestyle....

In Japan, the sustainability of public finance including that of social security is of serious concern. The underlying cause is that Japan is in transition to a new phase of economy and society because of medium-term changes in the revealed preferences of people about their lifestyle....

In comparing fiscal indicators of Japan and Australia, it is generally perceived that Japans fiscal conditions are very serious and those of Australia are very sound. However, in Australia the rising ratio of foreign liabilities to GDP is the source of anxiety in the market, which in turn...

This paper empirically investigates the effects of capital injections into Japanese banks, which were based on the Financial Function Stabilization Law and the Early Strengthening Law, on the capital crunch. Using financial panel data for all of the Japanese commercial banks, we estimate dynamic...

In the past, the experience of the ‘East Asian Miracle’ and the sufferings from the ‘East Asian Meltdown’ were the impetus to generate and develop East Asian regional identity. The situation, however, is changing drastically. The future of East Asia regionalism has become amorphous...

A consolidated filing of corporate income tax may induce firms to manipulate ownership interests in subsidiaries but no study has systematically examined such behavioral responses. This paper examines empirically inclusions/exclusions of subsidiaries to/from consolidation groups in a...

This paper evaluates one of the most drastic reforms of the Japanese public health insurance started in year 2006, by numerically examining the reform in an aging Japan in a dynamic context with overlapping generations within a computable general equilibrium framework. Our simulation results are...

This paper examines the impact of price fluctuations in foreign stock markets on the stock prices of domestic banks’ stocks to explore if and how external shocks have affected the banking system in Korea, Malaysia, Singapore, and Thailand during the 2000s. Some researchers insist that domestic...