This paper reexamines the dynamic impacts of the proportional consumption tax in a perfect foresight model of general equilibrium with nondurable and durable consumption goods as well as productive capital. In contrast to the previous literature, it is shown that the consumption tax is not...

This paper provides a general framework for the supply side when a firm employing multiple workers faces convex search friction. It also provides analytical scheme for non-steady states. Convex search friction makes the path outside of unbounded steady states possess greater significance than...

We consider a game with " meta-players" who observe each other's actions before actual play. The observability exerts an effect like repeated games without discounting. The game has Nash equilibria with any individually rational payoff profiles. In addition, the outcomes that satisfy a modified...

Feldstein (1977) questioned the classical proposition which attributed to Ricard (call the Ricardian Classical Proposition), that an increase in the land rent tax lowers the price of land by the capitalized value of the tax and thus the landowners bear the entire burden of the tax, in an...

This paper shows that in the short run, following an exogenous price shock, the union wage always increases, while the competitive wage may decrease, which contrasts the case in which labor is not unionized.

This paper studies the international and intertemporal implications of increased government expenditure. First, it reviews the conventional proposition that increased government expenditure raises interest rates, crowds out investment, and reduces growth. Then, it shows that this proposition...

The purpose of this paper is to examine the feature and the transition of trade in the Asia-Pacific region during the post-World War II period. The paper employs the gravity model with some regional dummy variables to estimate trade flows among 80 economies through temporal cross-section data...

This paper reports the result of an empirical study designed to examine the relationship between the manager's perceptions of the sources of budget variances and his motivation. A questionnaire survey drew the responses from sixty-eight middle managers sampled from nine manufacturing companies...

In this report, similarities and differences in the future direction of the agricultural policy in the U.S. and the Japan will be discussed. The 1996 American agricultural law, in terms of price and income support, it is moving towards liberalization. Constitutionally it still obeys the price...

In this article, we consider how effect consumer's earlier decision to purchase a discount ticket will have on the competition, price and timetable, between airlines. We focus on a relationship between consumer's purchasing behavior and a competition between airlines. We consider that a consumer...