No.7

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SSo人マ/之 JON o，＂Information Bulletin ofヽcゞ
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シThe Union of National
Economic Associationsin Japan

日本経済学会連合

1987

INFORMATION BULLETIN OFTHE UNION OF NATIONALECONOMIC ASSOCIATIONS IN JAPANThis Information Bulletin is designed to serve as an introduction of the academic
activities of member associations of the Union to the economic societies throughout theworld. The copies will be distributed by the secretariat of the Union to libraries andinstitutions in other countries whose names have been given by the member associationsof the Union.
Managing Editors
Toshinobu KATO, Asia University
Fumimasa HAMADA, Keio University
Shoji NEDACHI, Nihon University
Terushi HARA, Waseda University
Masaru SAITO, Chuo University
Junko NISHIKAWA, Tokyo Metropolitan
College of Commerce

Mitsuhiro HIRATA, Waseda University
Koichi TANOUCHI, Hitotsubashi University
Masatoshi KAWANABE, St. Paul's University
Masahiro SUGIYAMA, Waseda University
Yoshinori SUZUKI, Kanagawa University
Kazuo NIMURA, Hosei University

Editorial Committee
Yoshio OKUDA, Chuo University
Shinya SUGIYAMA, Keio University
Hideo TAMURA, Chuo University
Shusaku YAMAYA, Toyo UniversityYoko SANO, Keio University
Hisanori NISHIYAMA, Meiji University
Shizuya NISHIMURA, Hosei University

Satoru TAKAYANAGI, University of Tsukuba
Masahisa HAYASHI, Yokohama Municipal University
Yasuo KAWASHIMA, Meiji Gakuin University
Kiyoshi OKAMOTO, Hitotsubashi University
Toshio WATANABE, University of Tsukuba
Hiroshi TSUKAHARA, Nagoya Economic University

Directors of the Union
Takashi SHIRAISHI, Kyorin University
President
Takashi FUJII, Nagoya University
Masao HAMABAYASHI, Hitotsubashi University
Kyojiro SOMEYA, Waseda University
Tomoji ICHINOSE, International Christian University
Masao UNO, Waseda University
Minoru MACHIDA, Waseda UniversityYoshiro MATSUDA, Hitotsubashi University
Yoshiaki SHIMABUKURO, Toyo University
Yasuo OKAMOTO, The University of Tokyo
Takehisa HAYASHI, The University of Tokyo
Norio TAMAKI, Keio University
Secretary General
AuditorHeizaburo SONODA, Nihon University
Satoru TAKAYANAGI, University of Tsukuba
Shigeto TSURU, Meiji Gakuin University
Emeritus
Yasuzumi IWAO, Chuo University
Yoichi ITAGAKI, Hitotsubashi University
Noboru YAMAMOTO, Soka University
Business letters to be addressed, Secretariat of The Union of National Economic
Associations in Japan, C/0 Professor Norio TAMAKI, Keio University, Mita 2-15-45,Minatoku, Tokyo 108, Japan.
COPYRIGHT 1987 BY THE UNION OF NATIONAL ECONOMIC ASSOCIATIONS
Printed in Japan. DAITO ART PRINTING CO., LTD. Tel. (03)552-8341

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The publication of The Information Bulletin is part of a.
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. d at promoting
program, azme
znternatwnal exch anges of economic
studies, commemorating in 1981 the 30th anniversary of theestablishment of the Union of National Economic Associations inJapan, when the first issue of The Information Bulletin appeared.
The purpose of The Bulletin is to introduce all over the world
the development of Japanese economic studies. We would be mostpleased if The Bulletin will assist every sort of academic societies
and institutions throughout the world in becoming familiar with theeconomic studies in Japan. It would also be our pleasure if economic
researches in Japan, introduced in The Bulletin, could interest
scholars abroad and thus contribute to the advancement ofeconomic studies in other countries.
The Information Bulletin No.7, 1987, provides records of thepapers given, and the discussion taken place, at the latest annual
conferences of Japanese economic associations during the pastacademic year of 1986 - 1987. Included in The Bulletin is a special
article, entitled CONTEMPORARY ISSUES FOR THE STUDY
OF ECONOMIC POLICY IN JAPAN. Finally, as an appendage
to The Bulletin, a list of the member assoczatwns, contammg
relevant organizational information, is presented.
The Information Bulletin is an annual publication, with eachannual issue being completed in March of each year. A copy will
be sent, with compliments of the Union, to universities, libraries andeconomic research institutions, which have strong relationships withthe member associations of our Union, throughout the world.

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函咄咄咄咄守守咄守咄守守咄守咄守守守咄咄守咄守守守守守守咄守守咄咄咄守守翁JAPANESE ASSOCIATION OF FISCAL SCIENCE
The 43rd annual meeting of the Japanese Association of Fisical Science was heldin Hosei University on October 17 and 18. There were seven themes this year. Theywere (1) the review of the theories of modern public finance, (2) problems of the moderntax systems, (3) the present state and the prospect of intergovernmental fiscal relations,(4) social insurance and public finance, (5) taxation of enterprises, (6) public financeand industry, and (7) how the policy-oriented public investment and loans should bemanaged in the future.
Five reporters presented papers on the first theme on the first day. Akifusa
FUJIOKA (Chiba Keiai College of Economics) discussed the theories to determine thelevel of public charges. Goro SAITO (Niigata University) analysed the relationshipbetween the science of public finance and the theory of the state. In the afternoon Yutaka
KODAIRA (Seijo University) reported on the application of general equlibrium analysis
to taxation problems. Kazuo YOSHIDA (Osaka University) examined the problem offluctuation of the size of the fiscal budget, while Kazuhiro ARAI (Hitotsubashi
University), made clear the issue of disclosure of information by the public agencies.
On the subject of modern tax systems Yasushi IINO (Keio University) considered
the problems of tax-paying units and deductions for the spouse, while Mamoru SUZUKI(Tokai University) examined the role of income tax as a means of redistributing wealth.
In the afternoon, Eiji TAJIKA (Hitotsubashi University) reported on capital costs andeffective corporate tax rate. Then·Hiroshi MIYAJIMA (The University of Tokyo)
explained the structure of current income tax in relation to the theory of taxation. The
third speaker was Junshichiro YONAHARA (Hiroshima University) who reported ontax reforms in Australia and New Zealand.
The third theme was the current state and the prospect of the intergovernmental
fiscal relations. Jun-ichi NAGAMINE (Otemon Gakuin University) evaluated the local
grant tax system (a Japanese version of local equalization grant system). Hideo NAKAI(Kinki University) discussed the structural changes of local grant tax system.
In the afternoon, Chuji SAKAMOTO (Okayama University) discussed the present
state and necessary reform of the national specific grant system. Akira KOBAYASHI(Kanazawa University) looked at the punitive mechanisms of the Block Grant and thecontrol of local government finance. The third speaker, Masatomi FUNABA (HiroshimaUniversity) discussed the structures and functions of various prefectural taxes.
The fourth theme was social security and the public finance which was taken up
in the morning session of the second day. Hiroyuki MATSUOKA was the first reporterand he discussed the problem of coordination among different systems of medical
insurance. Then Satoshi USHIMARU (Aoyama University) discussed on the relationshipbetween taxes and pension system. Yukio NOGUCHI (Hitotsubashi University) reported
on the issues of an aging population, public pension scheme and capital accumulation.
The fifth theme was taxation of enterprise. The theme was discussed in the afternoonof the second day. Yasuo HIRATSUKA (Tokyo Metropolitan University) tried to- 43 -THE JAPAN SOCIETY OF PUBLIC UTILITY ECONOMICSThe Japan Society of Public Utility Economics was founded in 1949. The aim of
the Society is to foster studies and conduct investigations on public utilities from political,
economic and technical standpoints, and to improve the general conception of publicservice, so as to induce a healthy development and thus contribute to public welfare.
The main activities of the Society are to publish The Journal of Public Utility
Economics, thrice yearly and to hold an annual national conference.
The 37th national conference of the Society was held on May 29 and 30, 1987 at
Kansai University, Suita City, Osaka. The overall theme in 1987 was "Public Utilities
in the Information Age". Under this theme five reports were presented together withfive reports under the free themes.
The subjects and summaries of each report under the overall theme are as follows.
(1) "Diversification of Electric Power Industry in the United States" by Masaaki!MURA (Kansai Electric Power Co., Inc.): Recently, many American electric utilities
have set about the diversifying their business. Energy situation and economic conditionof these years have prompted such activities. The reporter searched the background ofelectric utilities'business diversification and pointed out the recent situation, management
system and regulatory problems.
(2) "The Verification on the Natural Monopoly of Telecommunication Industry" by
Masaru MIYAJIMA (Tokyo Institute of Technology) and Nobuo OKUZAWA (NTT):On April 1985, NIT as a pubr1c corporation was pnvat1zed and the telecommumcat1on
industry has also become competitive. It is necessary to secure the efficienttelecommunication market to verify the characteristic of natural monopoly in theindustry. The reporters verified it applying'Box-Tide'type cost function.
(3) "Significance and Application of the Information Business Map" by Masanao
TANASE (NTT): Recent technical progress has produced various new media and has
also brought great changes to the information business. Many new business opportunities
have appeared. The reporter examined the trend towards new information business usingthe map.
(4) "Railway Industry in the Information Age" by Masanao HAMAI (Osaka Municipal
Transportation Bureau): Telecommunication technology is indispensable to the railway
operation. In Osaka Municipal Subway the technology has been utilized for theCTC/ PTC system, automatic ticket examiner, automatic announcement, and seatreservation. In the near future, such new services as CATV and NCC will be provided.
The high grade telecommunication technology will be able to be a strong weapon for
the vitalization of the railway business.
(5) "Energy Service Industry in the Information Age" by lchiro MATASHIRO (SenshuUniversity): The reporter regards the trend of information orientation as an "intelligence"in consequence of the fusion between consumers and producers utilizing the networkarchitecture or the intelligent terminal. He noted the fundamental structural change inthe energy service industry.

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