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Ritsuko Futagami Kimiyoshi Kamada & Toshiaki Tachibanaki 《Review of Income and Wealth》2002,48(2):235-244
This paper investigates income transfers between dynastic families caused by a public pension system. Using Japanese data, we present simulation results based on a model in which intergenerational altruism works, and income distribution exists between and within generations. The growth rates of income and population, as well as the formulation for the determination of the contribution rate and the payment rate, are crucial to determine both the qualitative and quantitative effects. Especially, under negative income growth over generations, pay–as–you–go public pensions can cause negative income redistribution. 相似文献
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Policy coordination in East Asia and across the Pacific 总被引:1,自引:1,他引:0
In this paper, we construct a macro-econometric model that describes the economic activity in the Asia-Pacific area and provide
quantitative insights into the recent policy debates on monetary and currency coordination among the East Asian economies.
The model includes a wide variety of monetary and currency policy rules that the East Asian economies adopt and allows for
one country's policymaking to have substantial effects on foreign countries. We apply the model to three current policy issues:
(1) the desirability of currency basket pegs in East Asia, (2) the anticipated effects of China's currency policy reform,
and (3) the non-negativity constraint on Japanese nominal interest rates. The simulation analyses show the external economy
effects of policy rules quantitatively and suggest the difficulty of monetary and currency policy coordination among the East
Asian economies.
相似文献
Koichiro Kamada (Corresponding author)Email: |
Izumi TakagawaEmail: |
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We propose a simple model of repeated games with private monitoring and time-varying information structures. We then obtain an example demonstrating that the set of achievable equilibrium payoffs may shrink when players' information regarding opponents' information structures is increased. 相似文献
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The purpose of this paper is to empirically assess the optimality of the level of public capital in Japan. We use a methodological
approach based on Burgess's (1988) procedure for calculating the public discount rate. This approach involves estimating a
production function, but does not necessarily require utility function estimation. The results indicate that, although the
Japanese economy experienced a public capital deficiency over the period 1960–1982, public capital moved toward optimal levels
throughout the period.
First version received: March 1997/final version received: June 1998 相似文献
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