This paper forecasts the long-term trends in government subsidies to health insurance and long-term care insurance with the latest version (September 2009) of our Health and Long-term Care Insurance Model (HLIM). Many economic settings match those of simulations conducted by the National Council...

In this paper I study issues in choosing between insurance premiums and taxes as means of financing the social security programs. An outline of the present composition of financial sources is that general tax revenues are put into a social insurance program that has a difficulty in raising an...

Nominal rigidities due to menu costs have become a standard element in closed economy macroeconomic modeling. The ''New Open Economy Macroeconomics'' literature has investigated the implications of nominal rigidities in an open economy context and found that the currency in which prices are set...