This paper examines whether or not the property tax in Japan functions as a benefit tax through the empirical investigation and simulation. The simulation given the current Japanese local public financial system reveals that while the property tax is a benefit tax for the residents (or the...

The present paper considers a simple (Keynesian) macroeconomic model to quantify impacts of the large scale earthquake in Tokyo on national economy variables such as economic growth, price level, interest rate, fiscal balance by Monte Carlo simulations. In doing so, we account for the current...