This article proposes pragmatic methods that incorporate recent contributions to public good theory to identify the members of the international club and how they select new members. This article also suggests simple applications to the recent problems in international clubs such as the euro and...

The international public good model is an extension of the public good model, allowing for different productivities of producing the public good across countries. By extending the proofs of Bergstrom <italic>et al.</italic> (1986, 1992), which are the seminal studies in the public good literature, this article...

This article assesses the program for Financial Revival (PFR) of the Japanese banks. To achieve the programme's goal of maximizing banks' profits, the government can inject capital and reduce bad loans of banks subject to the government budget constraint. We conclude that the government can...

The paper investigates whether the Japanese bank lending causes the long stagnation in the 1990s and if so whether this effect on the growth is more persistent than in the 1980s. Applying a VAR model for the annual prefecture panel data, the former can be verified by Granger causality test and...

This paper uses Hong Kong stock market’s four sub-indices to examine the existence and causes of rational expectation bubbles. The unit root test is applied to the rational bubble hypothesis. Various causality test methods are used to examine the causality of bubble among the four sub-indices....

The purpose of this paper is to produce an explicit rule of planner for country h on global income redistribution and to investigate the global effects of income transfer among N countries on national welfare of country h. The finding is, (i) when the cross product of costs of producing public...