A great amount of donations were collected after the 2011 Tohoku Earthquake and the 1995 Hanshin Earthquake, both of which occurred in Japan. Such private donations ought to be enhanced in Japan, since the Japanese government already incurs enormous amount of debt, but little is known about what...

We theoretically examine voluntary policies' potential for controlling emissions from a large number of heterogeneous rms under an asymmetric information case as well as the exibility of the optimal voluntary policy. The potential of exible voluntary policies depends on the type of...

This paper constructs an overlapping generations model in order to demonstrate low political intervention and interaction in the working and retired generations affect the allocation rate in future growth-stimulating public investment and the public pension. It also analyzes the possibility of...

This paper analyzes the possibility of some generations' welfare improvement via child benefit programs, without making any generation worse off, in an overlapping generations economy that has endogenous fertility and large government debt levels. We derive the conditions for this improvement...