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THE ECONOMIC IMPACT OF THE PEACE DIVIDEND
CHANGES IN POLITICAL ENVIRONMENT AND THE U S JAPAN
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Abel's after-tax analysis Asian NIEs asset baseline business fixed investment changes cooperative corporate tax cut cost currency 1980 billion current account defense spending demand Democratic depreciation discount factor dollar domestic economic growth effects elasticity empirical equation equilibrium expansionary expansionist expenditures external imbalances fiscal deficit fiscal expansion fixed investment growth rate impact inflation investment function investment tax credit investment-oriented tax policy Japan and OECD labor LDCs loss function macroeconomic macroeconomic policy marginal-q monetary expansion monetary policy money growth Nash equilibrium Nominal Interest Rate noncooperative Oceania OECD OPEC optimal output gap parameters partisan theory peace dividend policy coordination policymakers political predicted price of capital production function public capital stock rate of investment rational expectations regions Republican administrations RMSPE Scenario simulation results small-scale global model STEM supply side Takenaka trade balance trends U.S. and Japan U.S. defense U.S. dollars U.S. fiscal variables world economy