Pricing of public utilities has long been discussed after Hotteling (1947), and most preceding arguments have provided a negative answer to the question to attain a Pareto-efficient allocation in an economy with non-convex production possibilities. Contrasting to these, Kamiya (1995) provided an...

All the social insurance systems in Japan have faced number of difficulties in recent years mainly because, on the one hand both aging and number of children declining had accelerated and on the other hand Japan experienced stagnated economy after 1990. Among them the public pension system...

A decade ago A. Hatta and J. Haltiwanger (1986) gave a theoretical foundation for the intuitive tax policy recommendation that if two strong substitutes have different ad valorem tax rates, lessening the difference between their tax rates improves consumer's welfare. This note demonstrates that...

Privatization was one of the significant public policy adopted by many countries in the last two decades. Previous and recent studies on its efficacy have focused mostly on the gains at the firm and industry levels. Differing from that approach, this paper attempts to reconsider impacts of the...

Privatization has been one of the significant public policies adopted in the last two decades. Previous studies have focussed on efficacy gains at the firm and industry levels. This paper intends to reconsider the distributive impacts of privatization on the economy as a whole from a theoretical...

The problem of the optimal tax system in the presence of tax-evading behavior is analyzed. This paper provides the conclusion, assuming identical households and proportional income and sales taxes, that the optimum tax system depends critically on the households' attitude toward risk: the...

In an earlier paper the authors clarified the relationship between the stability of long--run equilibrium and the possibility of paradoxical comparative statics in the Lerner--Samuelson two--by--two model of production with factor--market distortions (see "Review of International Economics" 9...

In the late 1960s and early 1970s there was a strong revival of interest in the role of factor-market distortions in those branches of our subject which rely on the Lerner-Samuelson two-by-two model of production. Among the legacies from that period were several comparative statical propositions...