Evidence suggests that Japan's basic research levels seem to lag behind that of the USA. This paper seeks to investigate (1) the reasons for this difference in the context of societal impact on the creation of intellectual products, (2) the influence of the different legal systems as they relate...

We present a simple monetary model (with sticky prices) to highlight spillovers to output gaps. We then show using a sequence of nonstructural VARs and a Global VAR, the effects of monetary policies measured using short-term interest rates and money base stocks. We conclude that money base...

We analyze statistical properties of a set of deterministic threshold elements which is introduced as a model for the stock market. The macroscopic variable of the stock market price shows seemingly stochastic fluctuation with a f-2 power spectrum consistent with real economic fluctuations. The...

This book is a concerted attempt by economists to investigate and offer remedies for some of the difficulties associated with an ageing labor market.