This paper considers how increasing longevity and declining birth rates affect market entry and endogenous productivity growth in a two-country model of trade. In each country, the demographic transition to an older population induces a contraction in the labor force through a decline in the...

This paper uses a dynamic general equilibrium model to examine whether financial innovations destabilize an economy. Applying a neoclassical production function, we demonstrate that as financial frictions are mitigated, the economy loses stability and a ip bifurcation occurs at a certain level...

By introducing an international relocation mechanism into a two-country model, we analyze the effects of an increase in the corporation tax in the richer country on employment and effective demand in both countries. This taxation policy proves to produce not only enterprise relocation, but also...

This paper analyzes the effect that an intergenerational redistribution policy has on effective demand by introducing the monetary stagnation model into an overlapping generations economy. We show that the redistribution from a younger generation to an older generation worsens effective demand...

This paper develops an efficiency wage model to highlight public policy for relieving unemployment. For the purposes of relief, we present unemployment benefits, public employment programs and wage subsidies. The results show that unemployment benefits have a negative effect on the employment...

This paper analyzes the effect that an intergenerational redistribution policy has on effective demand by introducing the monetary stagnation model into an overlapping generations economy. We show that the redistribution from a younger generation to an older generation worsens effective demand...

We theoretically analyze the effects of a child allowance, an improvement in the efficiency of child rearing and a labor income tax on the fertility rate and per capita consumption. The effects on per capita consumption are opposite in the absence, and the presence, of unemployment. For example,...

This paper develops a dynamic general equilibrium model of North-South trade and economic growth in a world economy with a continuum of countries. Countries are different in research productivity. Innovation, imitation and the relative wage between countries are endogenously determined as well...

Empirical studies show that the fertility rate (mortality rate) exhibits an inverted u-shaped dynamic in some countries, while it decreases monotonically in other countries. This paper formulates the concept of public health infrastructure and constructs a growth model that replicates various...