Jun Iritani

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JEL classification: E62 H54 H32 Keywords: Fiscal policy Investment Crowding-out Crowding-in FAVAR a b s t r a c t Fujii, Takao, Hiraga, Kazuki, and Kozuka, Masafumi—Effects of public investment on sectoral private investment: A factor augmented VAR approach Public investment decreases aggregate private investment in both neoclassical and Keynesian models.(More)
In this paper, we present a new neutrality theorem in the theory of private provision of public good. Our new theorem is qualitative or global in the sense that it does not depend on the original equilibrium allocation. The theorem will reveal that the equilibrium obtained under a proper income redistribution can be made more efficient in the strict(More)
Recently, much attention has been paid to tradable emission permits (TEP) which many countries contemplate introducing as a key instrument of reducing emissions of greenhouse gases. In this paper, we construct a general equilibrium model in which the price of TEP is determined through the global market trading. We deal with two countries. There are one(More)
We construct an algebraic model of the social choice theory. First we give an arithmetic proof of Arrow's Impossibility Theorem. Next we apply our algebraic method to single-peaked preference domain to establish two theorems. (i) A value of Arro-vian social welfare function on single peaked preference domain is single-plateaued with at most two maximal(More)
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