The Comparison of Macroeconomic Policies between Japan and Australia

本研究可分为三个部分。第一组涉及公共财政问题。伊恩·克尔（Ian A.Kerr）和加里·麦克唐纳（Garry A.MacDonald）从经验上考察了税收组合对经济增长的影响。牧野元美探讨了在日本不断变化的社会和经济形势下关于预算问题的争论。第二组涉及金融和货币政策问题。Yuichi Fukuta使用时间序列分析测试了一些条件，以确定日本和澳大利亚的股票价格是否包含理性泡沫。矢野庆二对日本泡沫时期和泡沫之后的货币传导机制和货币政策效果进行了分析。他强调了信贷渠道的重要性，并指出，由于日本泡沫破裂后资产价格暴跌，货币政策的有效性被大大稀释。第三组涉及国际贸易问题。Helen Cabalu使用模拟模型分析了乌拉圭回合和东盟自由贸易区下的贸易自由化到2020年对日本农业的影响。Meher，Manzur引入了一种新的衡量真实的汇率的方法，作为国际竞争力的指标。这一措施适用于日本、韩国、泰国、马来西亚和新加坡的数据。松本洋一用新的方法将日本经常项目的波动分解为结构性和周期性两个部分进行了分析。三木田龙平对中间产品贸易的新贸易模式的发展进行了调查。

This research can be grouped into three sections. The first group deals with issues in public finance. Ian A.Kerr and Garry A.MacDonald empirically examines the influence of the taxation mix on economic growth. Motomi Makino examines the debate about budget problems in the changing social and economic situation in Japan. The second group deals with issues in finance and monetary policy. Yuichi Fukuta tests some conditions, using time series analysis, to determine whether Japanese and Australian stock prices contain rational bubbles. Keiji Yano examines the monetary transmission mechanism and the effect of monetary policy during and after the bubble period in Japan. He emphasizes the importance of the credit channel and shows that the effectiveness of monetary was much diluted owing to the asset price crash after the burst of the bubble in Japan. The third group deals with issues international trade problems. Helen Cabalu uses simulation model to analyze the effects of trade liberalization under the Uruguay Round and ASEAN Free trade Area on Japanese agriculture to the year 2020. Meher, Manzur introduces a new measure of real exchange rates as an indicator of international competitiveness. This measure is applied to the data for Japan, Korea, Thailand, Malaysia and Singapore. Yoichi Matsubayshi analyses the fluctuations in Japan's current account decomposing it into structural and cyclical components using a new methodology. Tatsuhei Mikita surveys the development of the new trade models which treat the trade in intermediate products.