This study estimates average expenditures on children by families in Japan on the basis of the rich information about household expenditures and demographics obtained from the Family Income and Expenditure Survey. We show that the total expenditure on the first child accumulated from birth...

The Earned Income Tax Credit (EITC) is the largest cash or near-cash U.S. antipoverty program. Taxpayers gain access to the EITC by having incomes below certain thresholds and by filing a tax return. For a taxpayer to receive a larger EITC available to families with children, the EITC-qualifying...

To quantify qualitative survey data, the Carlson-Parkin method assumes normality, a time-invariant symmetric indifference interval, and long-run unbiased expectations. Interval-coded data do not require these assumptions. Since April 2004, the Monthly Consumer Confidence Survey in Japan asks...

Recently in Japan, regional promotion policies that focus the science and technology innovation are nationally implemented. One of the aims of this paper is to revaluate these Science and Technology Innovation Policy, especially Regional Cluster Program from a perspective of Social Capital. And...

Exploiting an ideal experiment situation, this paper provides clear evidence of consumption smoothing against an anticipated income change. Until FY2002, Japanese public employees received large and predictable bonus payments three times a year, but the third bonus in March was abolished in...

It is noteworthy that the cross-border technology flow has increased rapidly with progress of globalization in recent years. Although the issue on how intellectual property rights (IPRs) affect the international technology flow is of great interest, the empirical study using micro-data is not...

One of the urgent problems the Japanese economy is confronted with is understood how to raise the productivity of service industries which have more than 70% share in the total economy. The real problem in the current situation, however, is that the solution goes to a superficial and ad-hoc...

The middle 1990s began a serious economic recession for Japan known as the "lost decade". Productivity appears to be a contributing factor to the recession with service sectors receiving an especially bad reputation for low productivity compared to the manufacturing industries. But this...

This paper is an introduction to Dynare and New Keynesian, dynamic stochastic general equilibrium models. In recent years, micro-founded macroeconomic models is a hot topic in monetary policy analysis, for example, Yun (1996), Gali (2002). A simple new Keynesian model is often called new IS-LM....

The Great Depression in Japan, also known as the Showa Depression, was not as serious as the Great Depressions in other countries. There have been many arguments to back up this claim: Harada, Sato, and Nakazawa [2007] concluded that Japan's monetary policy alleviated the Depression. This...