This paper uses a synthetic control method (SCM) and a Ridge Augmented SCM to estimate the impact of holding the Tokyo Olympic games on the number of newly confirmed COVID-19 cases in Tokyo (Japan). Our analysis with these methods enables us to estimate the causal impact of the Tokyo Olympics on...

This paper uses a two-period overlapping generations model in order to provide a theoretical design for an optimal public pension system based on a partial equilibrium analysis. Household preferences only depend on two periods consumption and leisure and is homogeneous of degree m with respect...

This paper investigates empirically the substitutability of savings among the household, corporate and government sectors in OECD countries. First, theoretical micro-foundations are constructed, wherein, each sector behaves under intertemporal optimization. Second, empirical investigations are...

In this study, we investigate the effect of a positive public investment shock on Japan's private consumption, real wages, and real effective exchange rate using a factor augmented vector autoregressive (FAVAR) model applied to a rich dataset. We demonstrate that private consumption increases,...