The present paper considers a simple (Keynesian) macroeconomic model to quantify impacts of the large scale earthquake in Tokyo on national economy variables such as economic growth, price level, interest rate, fiscal balance by Monte Carlo simulations. The simulations reveal that while GDP...

Because habit formation among consumers preference has strong influence on policy effects, it is crucially important for public policy management. In this article, I estimate the Euler equation allowing habit formation based on Dynan (2000), using data from the Japanese Panel Survey of Consumers...

When most populous nations like China and India become industrialized and globalized it will potentially open a new chapter in the human history. Under this major trend in the 21st century, there need foresights flexible enough to embrace non-linear changes and discontinued progress to depict...

People who trust others and actively engage in various kinds of social networks can earn more than people who don't. An estimation of the Mincerian wage regression function using the JGSS-2005 data reveals that social capital (trust and social networks) as well as human capital (schooling and...

This paper investigates effectiveness of consumer policy in shared resource management where producers' coordination and government regulation fail. For this purpose, we employ conjoint analysis and experimental design through an internet survey of marine eco-label. Our results suggest that...

In recent years, a salient and general motivation of researchers of a number of central banks has been to enhance macroeconometric models by Dynamic Stochastic General Equilibrium (DSGE) models. The central banks use the models to help produce economic projections, the analysis of policy issues,...

This paper examines the impact of public R&D subsidies on firm's R&D activities using micro-data on Japanese manufacturing firms from 1995 to 2005. We focus on two effects. One is the quantitative impact of whether the public R&D subsidies crowed out firm's own R&D investment or not. The other...

Economists unanimously agree that economic agents' expectations are crucially important in determining macroeconomic outcomes. However, mainstream macroeconomists usually simply assume that expectations are rational, leaving unexamined the fundamental question whether individual agents' actual...

This paper has estimated lifetime benefits and burdens of each future generation and underlying fiscal situation.Net burdens could be significantly different among the future generations depending on how to improve the primary fiscal balance, even though the government debt be eliminated in...

This study addresses the case of Tianjin in China and seeks a suitable environmental policy for the region. The Tianjin inter-regional input-output table is estimated and the economic and environmental impacts of environmental conservation technologies are measured. This study investigates the...