The Japanese government has advocated a wide range of policy measures to reduce greenhouse gas emissions from transportation, e.g. improvements of gas mileage, development of alternative fuel vehicles, shifts to walking, bicycles and public transportation for passenger transportation and to...

We examine two issues on duciary duty.First,what is the essential structure of duciary duty?Second,does duciary duty have elements of a mandatory rule? Concerning the rst question,the formation of a duciary relationship involves the di culty of writing a contract on the acts that the duciary has...

We estimate the consumption values of urban agglomeration economies and social overhead capital for Japanese metropolitan areas. Following the pioneering work of Tabuchi and Yoshida (2000), our approach exploits the fact that consumers tolerate higher living costs if they benefit from urban...

The Japanese government has advocated a wide range of policy measures to reduce greenhouse gas emissions from transportation, e.g. improvements of gas mileage, development of alternative fuel vehicles, shifts to walking, bicycles and public transportation for passenger transportation and to...

The Henry George Theorem (HGT), or the golden rule of local public finance, states that, in first-best economies, the fiscal surplus, defined as aggregate land rents minus aggregate losses from increasing returns to scale activities, is zero at optimal city sizes. We derive a general second-best...

This paper studies the effect that a labour market for older workers will have on the ratchet effect. Even though we assume that the information on worker type that a firm obtains will not be transmitted to the other firms, the presence of the ex post labour market eliminates the ratchet effect....