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...

Due to rapid aging of the country's citizens, Japan faces an enormous long-term care future demand. To control care demand and maintain the current long-term care insurance, policies should be based on price and income elasticities obtained from empirical studies in Japan. This study is meant to...

This paper rigorously justifies the approximation of aggregate imitational behavior in large populations by the deterministic dynamics given by Bjonerstedt and Weibull. We first clarify what models fit their formulation, in which the stochastic dynamics depends only on the average frequencies of...

We have developed a computable two-country general equilibrium model with overlapping generations of agents. Two main issues are addressed: (i) how does the differential ageing process across countries affect international capital flow, and (ii) to what extent do the policy reforms play a...

Japan's development of information technology (IT) is said to have lagged behind the U.S. throughout the "lost decade", as the 1990s are often described. However, if we harmonize the national accounts for the two countries, the contribution of IT to economic growth turns out to be nearly...

This paper investigates the effectiveness of policies, especially credit guarantees and governmental institution lending, to facilitate funding for small and medium enterprises (SMEs) in Japan in the late 1990s. We set up a panel from different Japanese prefectures from 1993 to 2001 to estimate...

We have developed a multi-period computable overlapping generations model to study whether ageing itself and public pension reform that aims to cope with aging make any quantitative impact on the Japanese economy. We simulate baseline scenario and a policy change scenario, and compare the...

The purpose of this paper is to investigate the choice of invoice currency under exchange rate uncertainty. The analysis is motivated by the fact that the U.S. dollar has been the dominant vehicle currency in developing countries. The theoretical analysis is based on an open economy model of...