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...

Japanese economic activities have generally been stagnant during the last decade in the 1990s, with occasional signs of modest improvement. Among others, one reason of such weak economic developments has been attributed to delay in easing the financial policy. This paper is attempting to provide...

The increase of Japanese real wages in the 1990s has gradually become well-known. This increase was formed by the institutional reduction of contracted labor hours in the early 1990s and by deflation in the 1990s. Quantitative studies on the effect of the increase of wages on real GDP, however,...

The quality of aid has been a worldwide concern in the wake of September 11, 2001. On the other hand, Japan's massive amount of Official Development Assistance (ODA) to the Asian economies has been questioned by the Japanese people. The main objective of this paper is to overview the...

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...

This paper constructs a stylized general equilibrium overlapping generations model in which child-rearing costs are modeled explicitly to evaluate quantitatively the effects of a demographic transition in five Asian economies: Japan, China, Korea, Taiwan, and Singapore. The model looks at two...

We have developed a multi-period computable endogenous growth overlapping generations model generated by the accumulation of human capital. To study whether ageing itself and policy reform that aims to cope with aging make any quantitative impact through human capital formation on the Japanese...

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...

We have developed a multi-period computable endogenous growth overlapping generations model generated by the accumulation of human capital. To study whether ageing itself and policy reform that aims to cope with aging make any quantitative impact through human capital formation on the Japanese...

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...