This paper studies the short-term and long-term effects of tax policy changes on the Japanese economy by using a small open economy dynamic stochastic general equilibrium (DSGE) model with endogenous stochastic trends. The parameters of the model are estimated by a usual Bayesian method based on...

We propose a comprehensive public pension reform compatible with economic growth; the proposal combines partial privatization with full-tax financing of the basic pension scheme. Corporate tax reduction is included in view of invigorating firm activities. In order to keep government finance...

As cultural products become digitized and distributed in the Internet protocol (IP) broadband network, traditional cultural diversity regulations and their theoretical basis are being inevitably affected. In an emerging digital world, cultural products are produced, distributed, and consumed...

The Fukushima No. 1 Nuclear Power Reactor Accident in March 2011 caused radioactive pollution problems of various agricultural, forestry and fishery products in nearby Prefectures and government of Japan took production and shipment stoppage order for these products immediately. More than two...

It is frequently argued that the Trade Adjustment Assistance (TAA) program works not only as a "remedial device" for compensating losers from trade liberalization, but also as a "political device" for easing protectionist pressure and materializing further liberalization. This paper presents new...

This paper investigates whether or not (i) the decline in consumption after retirement is only from "work related expenses" and "food consumption," and (ii) even though food spending at home and that outside the home decline after retirement, actual food intake remains constant, as Hurst (2008)...

This paper examines the effect of negative demand shocks on the labor composition of firms, focusing on the change in the ratio of temporary agency workers to all workers.To distinguish a causal link from product demands to employee composition from the reverse causation, we used the global...

In the 1980s, the problems of structural unemployment and high unemployment among the youth intensified in the United States and the United Kingdom. As countermeasures to those problems, a series of new policies—such as the "flexibilization" of the labor market, relaxation of the labor law and...

Research in psychology and neuroscience has shown that negative emotions such as depression and anxiety lead to pessimistic risk estimates, while positive emotions such as happiness lead to optimistic risk estimates. We examined whether such trend is observed in the relationship between emotions...

This paper describes the construction of the Regional-Level Japan Industrial Productivity Database (R-JIP), which covers the period from 1970 through 2008 and comprises annual industrial output and factor input data of Japan's 47 prefectures classified by 23 industry. Output is measured in terms...