We construct a continuous-time overlapping-generations model with labor market friction in order to examine the relationship between bubbles, economic growth, and unemployment. We show that the existence of bubbles is contingent upon the equilibrium unemployment rate. Asset bubbles can (not)...

This study investigates the market for traditional dress in Japan in the second half of the 20th century. The textile industry has been regarded as a gdecliningh or mature industry in Japan since around the 1970s, and imports from developing countries with lower wages have increased rapidly....

This paper examines the influences of policy duration effects and quantitative monetary easing policy (QMEP) implemented by the Bank of Japan from 2001-2006 on economic growth toward future periods. We employed a simple equation with the term spread explaining economic growth, and obtained the...

In this paper, we verify the predictability of marginal q on rms' capital invest- ments. We compare Granger's causality of four manufacturing industries with the LA-VAR model and Vector Error Correction Model(VECM). We obtain the empirical results that the null hypothesis of no Granger's...