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...