In this paper, a new applied general equilibrium model is presented, where monopolistic competition under the economy of increasing return to scale is explicitly implemented. The equilibrium data sets are compiled from the 2000 Input-Output Tables released in 2004. Implementing monopolistic...

Using short-term interest rates from the 1980s to 2003, we test the real interest rate parity between Japan and eight Asian countries. The parity can not be rejected for Singapore only. Tests by 5-year period show the number of rejections is smaller in the 2000s than in the first half of the...

This is a revision of our previous paper (Shimizutani and Noguchi (2002) ESRI Discussion Paper Series No.60) based on a new dataset extended to 2003. This study takes advantage of micro-level information to make a projection of demand for at-home care services in Japan. We have observed a rapid...

This paper analyses possible causes of large discrepancies among official data for imputed rent for owner-occupied dwellings in Japan, those including National Accounts, Regional Accounts, Input-output Table, and National Survey on Family Income Expenditure. By reviewing the methodologies used...

This paper analyzes the macroeconomic impact of high oil prices on various national economies. Using an analytical model, I show that oil price-real GDP/nominal price elasticities can be estimated roughly from current oil prices, GDP, and oil imports and exports. In contrast to large-scale...

We observed a remarkable increase in elderly care expenses in Japan after the introduction of public elderly care insurance in 2000. This study explores the possibility that a greater number of care providers under the deregulation of the entry policy stimulated care utilization. We take...

Recently in Japan, a surcharge (administrative civil money penalty) system was introduced to the Securities and Exchange Law and surcharges are raised in the Antimonopoly Act. Up to now, surcharges were considered to be an administrative disciplinary action and not a criminal penalty. This is...

When measured in the purchasing power parity (PPP), China and India are largest economies in the world. They also registered high growth rates these years, combination of the two facts creates significant implications for the future economic relations: The Chinese economy will surpass the U.S....

The money multiplier is in a continuous downward trend now since the bubble burst, and, in addition, the trend has accelerated after 2000. It is said that the monetary policy is difficult because the money multiplier has declined. To think about the monetary policy for the future, we should...

As the household sector as a whole is very heterogeneous economically and socially, it is necessary to separate more homogeneous groups within the sector (United Nations et al. "System of National Accounts 1993"19.9). In this paper by sub-sectors of households according to size of income and net...