I extend a simple new Keynesian model with the Markov-switching-type Taylor rule introduced by Davig and Leeper (2007 ) by incorporating the constraint of the zero lower bound (ZLB), using the concept and algorithms of the stochastic rational expectations equilibrium proposed by Billi (2013)....

This paper discusses the relative significance of a Free Trade Area of the Asia-Pacific (FTAAP) at the macro and sectoral levels. The impacts of trade liberalization and facilitation measures in an FTAAP are studied using a Computable General Equilibrium (CGE) model of global trade. The dynamic...

Is Japan equal society in income distribution? This article explores the features of wage disparity in Japan. Wage income is the main component of labor income, the largest part of total income of the people. Cross-country comparisons for 15 OECD countries are made for both annual wage disparity...

At the beginning of our research, "Happiness in Having Children", we summarize precedent researches on happiness to answer to question, "What is Happiness?" We first compose happiness concept, and survey precedent researches on the factors which affect a feeling of happiness. The survey result...

Children start their schooling at different actual ages because schools accept entering students only once a year. Those born in a late month in a school cohort are said to be handicapped because they are behind their peers in terms of physical and mental development. Primary schools in Japan...

This paper statistically examines regional distributions of foreign workers based on municipal data, and estimates their effects on regional economies. The distribution of the ratios of foreign to Japanese workers is approximately log-normal, and their joint distribution of 2000 and 2003 shows a...

This paper describes Russia's economic policy over the 20-year span from 1986 to 2006. It began with the reformation of the socialist system, initiated in the late 1980s by the Gorbachev administration, and goes through to the structural reform implemented from 2000 by the Putin government....

1.Problem setting The 11th Five-Year Plan is the first five-year plan to be drafted by the Hu Jintao-Wen Jiabao administration, and by analyzing and examining this in contrast with the 10th Five-Year Plan, it will be possible to shed more light on the difference in economic policy and guiding...

The purpose of this study is to examine what kind of corporate reforms are effective in accordance with investment in information technology. Based on the nation-wide survey data from 3141 firms, logit model analysis revealed three observations. First, paperless transactions make the business...

We use an unobserved components model to extract the foreign exchange risk premium from the excess ex post returns of East Asian currency assets over US dollar assets and derive the implied expected future spot rates of East Asian currencies against the US dollar. Empirical results, obtained...