In this paper, we analyze the effects of population aging on economic growth and the environment in a two-period overlapping generations model of growth, aging, and the environment. We show that aging may be beneficial to economic growth and the environment under perfect annuitisation, while...

We develop a two-country model in which each country contributes noncooperatively to the global environment by improving its local environment. We introduce an index of environmental awareness that measures the extent to which a country is aware of the global environment. Then we demonstrate...

How does aging affect the environment? We analyze this question using anoverlapping generations model featuring uncertain lifetimes andenvironmental externalities. We show that whether aging is harmful to theenvironment depends on the curvature of utility function, which ismeasured by the degree...

This paper analyzes a social security policy with public debt in an overlapping generations growth model. In particular, the paper considers a situation in which population aging causes a heavy burden of social security payments where public debt is issued by the government to finance the...

We develop an overlapping generations model of growth and the environment in which industrial firms produce environmentally harmful emissions. A government controls the emissions by assigning emission quotas to firms, and permits could be issued and freely traded as financial instruments across...

This paper empirically investigates the determinants of subordinated debt issuance by Japanese regional banks during the period 2000-2005 using a probit model. The empirical results suggest the following: (i) Throughout the period, Japanese regional banks with a lower capital/asset ratio have a...