The book examines the effect of various public policies on economic performance in Japan. Various public policies include tax policy, regulation, macroeconomic policy, labour policy and some others. Many fields regarding economic performance are covered in this book: savings, portfolio choice, housings, investments, cost of capital, taxes, unemployment, wages, inequality, etc. Emphasis is placed on the examination of the two factor markets, namely, the capital and labour markets in Japan.

TOSHIAKI TACHIBANAKI is Professor of Economics at Kyoto University, Japan.

Preface - Introduction - PART 1: TAXATION - The Japanese Tax System and Its Effect: Efficiency versus Equity - Income Redistribution through the Tax System - PART 2: SAVINGS - Introduction to Savings Behaviours - The Increasing Importance of Contract-compulsory Savings - Household Portfolio Behaviour and the Implication of Tax Policies - The Effect of Housing on Savings - PART 3: CAPITAL MARKET AND INVESTMENT - Government Policies, and the Working of Capital Market - Capital Income Taxation and the Cost of Capital - The Effect of Regulation and Deregulation on the Financial Industry - PART 4: LABOUR MARKET AND UNEMPLOYMENT - The Working of Labour Market - Labour Supply, Mis-match and Unemployment - Wages and Labour Market Policies - PART 5: OVERALL EVALUATION - An Increasing Inequality Trend - Concluding Remarks - Index