In affluent countries such as U.S., the U.K. as well as Japan, subjective well-being remains unchanged for the past fifty years whereas the per capita GDP has increased several times. The answer to this issue has already discussed in terms of economics. This paper tries to provide more advanced...

It is a main issue of this paper that capital of ICT (Information Communication Technology) in many industries and companies is not clear about whether it affected corporate management. We have been studying on this issue since 1996 and published several papers in some scholarly journals. But it...

This study starts to analyze the comprehensive economic impact and transmission mechanisms of the quantitative monetary easing policy (QMEP) based on Honda et al.[2007]. Analysis using the VAR model has shown the following four observations. First, an increase of base money raises aggregate...

Japan's labor standard law defines weekly legal work hours, and employers must pay a 25- percent wage premium for overtime. The number of legal work hours was 48 in 1987 and gradually declined to 40 by 1997. During the corresponding period, the average weekly hours of work dropped from 45 to 41,...

Statistical filters such as Hodrick-Prescott and Band-pass filters are widely applied in business cycle studies for detrending time series data and measuring their cyclical components, nevertheless theoretical literature has criticized that they may distort the statistical properties of...

This paper examines forecast data of the ESP Forecast (hereafter ESPF), the monthly survey of forecasts for the Japanese economy, for 4 variable -- three quarterly figures of real GDP growth rates, year-on-year CPI growth rate and unemployment rate, and fiscal year real GDP growth rate -- in FY...

It is pointed out that Local allocation tax (LAT), an intrinsic local revenue source aimed at offsetting and balancing the disparity between local governments, relates to efforts to increase tax revenue and mitigate expenditure. This work investigates whether local governments confront Soft...

This paper describes the basic structure and multipliers of the 2006 revised version of The ESRI Short-Run Macroeconometric Model of the Japanese Economy, which was first released in 1998 (Hori et al. [1998]). The model is basically a demand-oriented, traditional Keynesian-type model with an...

This paper describes the basic structure and multipliers of the 2008 revised version of The ESRI Short-Run Macroeconometric Model of the Japanese Economy, which was first released in 1998 (Hori et al. (1998)). The model is basically a demand-oriented, traditional Keynesian-type model with an...

Postwar Germany accepted a large number of workers, especially from Turkey, Italy, and Greece, in the course of the "German Wirtschaftswunder," or "Economic Miracle." After the ban on recruitment in 1973, the inflow of foreign workers to Germany decreased; however, due to the inflow of the...