We have developed a computable two-country general equilibrium model with overlapping generations of agents. Two main issues are addressed: (i) how does the differential ageing process across countries affect international capital flow, and (ii) to what extent do the policy reforms play a...

We have developed a multi-period computable endogenous growth overlapping generations model generated by the accumulation of human capital. To study whether ageing itself and policy reform that aims to cope with aging make any quantitative impact through human capital formation on the Japanese...

We have developed a computable two-country general equilibrium model with overlapping generations of agents. Two main issues are addressed: (i) how does the differential ageing process across countries affect international capital flow, and (ii) to what extent do the policy reforms play a...

We have developed a multi-period computable overlapping generations model to study whether ageing itself and public pension reform that aims to cope with aging make any quantitative impact on the Japanese economy. We simulate baseline scenario and a policy change scenario, and compare the...

In this short paper, we investigate fiscal sustainability under an aging population in Japan from a financial market perspective. First, we focus on self-fulfilling expectations in the bond market and point out the risks of a fiscal collapse triggered by a change in market expectations. Second,...

While social security systems in the developed countries including Japan are taking pay-as-you-go system based on the cooperation between generations, the fertility number as a tax base of social security is decreasing and the low fertility tendency is common in the developed countries. And if...

The paper aims at quantifying the higher-order expectations that Keynes (1936) compared to the beauty contest, applying a measure of relative entropy to the Japanese ESP Forecast Survey data during the deflationary period. We conclude that during the deflationary period from June 2009 to April...

This paper examines the factors that lie behind the couples' declining number of children and desire for children, associating among living environment, economic situation, and husband and wife’s consciousness and sense of value. Data for this paper was compiled through a web-based...

Being healthy is one of the most important factors that affect the degree of human happiness. In an aging society, deaths due to cancer tend to increase. When considering the improvement of wealth of the aging society in Southeast Asia, the international transfer of Japanese R&D results and...

Less and late marriage and declining fertility of married couples are considered to be factors behind Japanese falling birth rate. The change in couple’s reproductive behavior is possibly related to couples’ economic and living situation including employment status of wives, educational...