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Recently, the outstanding debt of the Japanese government amounts to 695 trillion yen, which implies 139.5% of GDP. In this paper, we constructed three IS-LM type dynamic models and estimate the eigenvalues of their differential systems. Then we confirm whether or not the huge amount of public...
Persistent link: https://www.econbiz.de/10009365496
This paper reassesses the productivity of public capital in Japan by employing prefectural panel data from fiscal year 1975 to 2014. The study addresses key issues of non-stationarity and endogeneity in data, which have been overlooked in previous research. By applying the dynamic ordinary least...
Persistent link: https://www.econbiz.de/10014346043
Persistent link: https://www.econbiz.de/10012667753