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This study develops a dynamic Ricardian trade model that incorporates productive infrastructures into the manufacturing sector. The costs of building infrastructures are financed by tax. We investigate the relationship between the timing of opening trade and total welfare. The main results are...
Persistent link: https://www.econbiz.de/10014126310
In contemporary Japan, the realization of a virtuous cycle of growth and distribution (i.e., how the "new form of capitalism" should be) has been discussed. To examine the validity of economic policies suggested by the new form of capitalism, we present a Kaleckian model that considers the wage...
Persistent link: https://www.econbiz.de/10015213867
This study presents a three-sector growth model that consists of manufacturing, private services, and public services, and examines the relationship between sectoral compositions and the tax rate. We identify an optimal tax rate that maximizes instantaneous utility. The optimal tax rate...
Persistent link: https://www.econbiz.de/10015213868
This study builds a Kaleckian model that incorporates endogenous technological progress and investigates how a change in a parameter that directly fosters technological progress affects growth and distribution. In this model, there is an optimal wage share that maximizes the technological...
Persistent link: https://www.econbiz.de/10015213869
This study extends Goodwin’s growth cycle model by considering low- and high- skilled workers. Using the parameters obtained from the Japanese economy data, we conduct numerical simulations to reproduce Japanese business cycles. We investigate how the introduction of the minimum wage share and...
Persistent link: https://www.econbiz.de/10015213870