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Japan's savings are among the highest in the world, and these high rates have played a valuable role throughout the post-war period. However, over the next several decades, Japan's population will be ageing rapidly. Will this lower Japanese savings rates? Using up-to-date financial and demographical data, author Robert Dekle finds that the answer to this question is an emphatic 'yes'. Understanding Japanese Saving holds key lessons for Western nations undergoing similar demographic transformations as well as developing countries looking to establish public savings institutions.

support --- ratio --- investment --- rates --- governments --- intertemporal --- budget --- constraint --- real --- interest

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This book pulls together papers presented at a conference in honour of the 1981 Nobel Prize Winner for Economic Science, the late James Tobin. Among the contributors are Olivier Blanchard, Edmund Phelps, Charles Goodhart and Marco Buti. One of the main aims of the conference was to discuss what potential role monetary policy has on economic activity and unemployment reduction in three key currency zones - the United States, European Union and Japan.

output --- gap --- real --- interest --- rate --- taylor --- rule --- central --- bank --- nominal

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In the face of challenges posed by a shifting digital media landscape, an array of international bodies continue to endorse public service media (PSM) as an essential component of democratisation. Yet how can PSM achieve viability in settings where models of media independence and credibility are unfamiliar or rejected by political leaders? The answer lies in a holistic approach that is neither media-centric nor defeatist about PSM’s place in a landscape marked by younger generations’ widespread preference for social media platforms. There are more ways of working towards PSM than are often recognized. Wide-ranging research from media NGOs and academics demonstrates the potential of diverse, incremental approaches to embedding the values and mechanisms of PSM. These are as likely to involve regulatory and licensing institutions, unions of media practitioners, audiences, advocacy groups or social media platforms as content producers themselves. This Policy Brief considers the issues, research and policy options around achieving viability for PSM. It concludes with six recommendations that are relevant to policymakers, practitioners and media studies specialists.

public service media --- policy --- social media --- broadcasting --- audiences --- public interest

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The focus of this volume is on the European context of public budget policy and a variety of different approaches are used - theoretical modelling, econometrics and applied general equilibrium modelling. Empirical evidence and case studies of European countries are contained in all the papers. The papers cover the four general themes of public budget policy: * economic stabilization, in view of the Economic and Monetary Union in the European Community * reinforcing structural change, involved in market liberalization and harmonization of economic structures * its distributional effects and implications for social equity * endogenous economic growth.

co-integration --- regressions --- real --- interest --- rate --- vectors --- public --- deficit --- granger --- causality

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In this fascinating collection of essays Harvard Emeritus Professor Karl S. Guthke examines the ways in which, for European scholars and writers of the eighteenth and early nineteenth century, world-wide geographical exploration led to an exploration of the self. Guthke explains how in the age of Enlightenment and beyond intellectual developments were fuelled by excitement about what Ulrich Im Hof called "the grand opening-up of the wide world”, especially of the interior of the non-European continents. This outward turn was complemented by a fascination with "the world within” as anthropology and ethnology focused on the humanity of the indigenous populations of far-away lands – an interest in human nature that suggested a way for Europeans to understand themselves, encapsulated in Gauguin’s Tahitian rumination "What are we?”The essays in the first half of the book discuss first- or second-hand, physical or mental encounters with the exotic lands and populations beyond the supposed cradle of civilisation. The works of literature and documents of cultural life featured in these essays bear testimony to the crossing not only of geographical, ethnological, and cultural borders but also of borders of a variety of intellectual activities and interests. The second section examines the growing interest in astronomy and the engagement with imagined worlds in the universe, again with a view to understanding homo sapiens, as compared now to the extra-terrestrials that were confidently assumed to exist. The final group of essays focuses on the exploration of the landscape of what was called "the universe within”; featuring, among a variety of other texts, Schiller’s plays The Maid of Orleans and William Tell, these essays observe and analyse what Erich Heller termed "The Artist’s Journey into the Interior.”This collection, which travels from the interior of continents to the interior of the mind, is itself a set of explorations that revel in the discovery of what was half-hidden in language. Written by a scholar of international repute, it is eye-opening reading for all those with an interest in the literary and cultural history of (and since) the Enlightenment.

Europe, Enlightenment, geographical exploration, indigenous populations, interest in human nature, exploration of the self, literary and cultural history