This paper attempts to review the "16 economic mechanisms" of the EMU (Economic and Monetary Union) in Europe summarized in "One Market, One Money" (1990). Some of their impacts may have already appeared, and others may still be unknown. In the author's opinion, two groups -"impacts relating to...

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...

This paper analyzes labor market frictions, caused by heterogeneity among traders on the demand side (firms). Vacancy numbers per firm created at once can vary, and this heterogeneity affects the application rate by job seekers. On the aggregate level, theory predicts that vacancy distribution...

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...

We examine the period from 1991 to 2002 to document the effects of a changing Japanese labor market on trends in the cost of job change. Evidence is also found of a diminishing specificity in human capital (in firm-size and industry) for job changers in the Japanese labor market.

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....