This paper investigates the dynamic implication of balanced-budget rules. We introduce public goods to an overlapping generations model with production and assume that public goods in each period are financed by the labor income taxes. We show that in our model, if the cost of providing public...

We investigate Japanese distribution systems by using a successive monopoly model in which the dealer can increase demand for the commodity. We compare the Tatene system (TS) with the open price system (OPS), and show that in cases where the dealer's power of sales promotion is small (large),...

We investigate the effect of a learning curve on the production of durable goods by examining a durable-goods monopolist in a two-period model. If the monopolist faces a learning curve, the model shows that the equilibrium quantity of the first- (second-) period products will be smaller (larger)...