The optimal formation of regions changes over time, which prompts the question: how can regions survive by expanding their unique competitive advantages? One of two key factors cited in response to this question is competitive economic forces related to economic infrastructure elements. The...

The evaluation of economic development level is commonly measured by the growth rate of GDP. However, this single-dimensional measurement may cause potential issue to investigate sustainable economic development and growth model. An alternative framework is introduced to economic development...

In this paper we incorporate endogenous productivity growth into a medium-scale new Keynesian dynamic stochastic general equilibrium (DSGE) model, to which a new shock regarding R&D activities is added. By matching the model parameters to the Japanese economy from 1980:Q2 to 2013:Q4 and...

Using a Markov-switching prediction pool method (Waggoner and Zha, 2012) in terms of density forecasts, we assess the time-varying forecasting performance of a DSGE model incorporating a financial accelerator a la Bernanke et al. (1999) with the frictionless model by focusing on periods of...

We consider how and the extent to which a pure technology shock driven by R&D activities impacts on business cycles as well as economic growth, using a medium-scale neo-classical dynamic stochastic general equilibrium (DSGE) model following Comin and Gertler (2006). We try to identify a pure...

The evaluation of economic development level is commonly measured by the growth rate of GDP. However, this single-dimensional measurement may cause potential issue to investigate sustainable economic development and growth model. An alternative framework is introduced to economic development...

There are two types of regional development elements those are namely economic and social terms. While both developing and developed countries initially need to establish regional economic infrastructure, the next concern should be given to the social infrastructure. In local regions, the...

In population declining countries, public services in rural areas face potential problematic issues on the long-run sustainability, which are namely brought by insufficient economies of scale. Since these services play important roles as social infrastructure elements, a disappearance from the...

The optimal formation of regions changes over time, which prompts the question: how can regions survive by expanding their unique competitive advantages? One of two key factors cited in response to this question is competitive economic forces related to economic infrastructure elements. The...