This paper rigorously justifies the approximation of aggregate imitational behavior in large populations by the deterministic dynamics given by Bjonerstedt and Weibull. We first clarify what models fit their formulation, in which the stochastic dynamics depends only on the average frequencies of...

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...

Japan's development of information technology (IT) is said to have lagged behind the U.S. throughout the "lost decade", as the 1990s are often described. However, if we harmonize the national accounts for the two countries, the contribution of IT to economic growth turns out to be nearly...

This paper investigates the effectiveness of policies, especially credit guarantees and governmental institution lending, to facilitate funding for small and medium enterprises (SMEs) in Japan in the late 1990s. We set up a panel from different Japanese prefectures from 1993 to 2001 to estimate...

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...

The purpose of this paper is to investigate the choice of invoice currency under exchange rate uncertainty. The analysis is motivated by the fact that the U.S. dollar has been the dominant vehicle currency in developing countries. The theoretical analysis is based on an open economy model of...

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...