In August 2005, a small but important conference took place at Chuo University in Tokyo, Japan. This international conference, the Chuo Meeting on Economics of Time and Space 2005 (Chuo METS 05), aimed to enrich the respective disciplines of the economics of time (dynamic economics) and the economics of space (spatial economics) and to expand their applicability in the real world. The chapters contained herein are based on the papers presented at that conference. Part I of the book deals with Keynesian macrodynamics, which allows for the existence of involuntary unemployment; Part II focuses on nonlinear dynamics, with an emphasis on the complexity that is generated as a result of the nonlinearity of the system; Part III consists of an empirical analysis of spatial economics through geographical relationships with economic activity; and Part IV analyzes the effects of spatial competition between economic organizations or agents on economic performance in a region.
Economics of time : Keynesian macrodynamics
1 A sophisticatedly simple alternative to the new-Keynesian Phillips curve by Reiner Franke 3
2 Harrodian dynamics under imperfect competition : a growth-cycle model by Hiroyuki Yoshida 29
3 Endogenous technical change : the evolution from process innovation to product innovation by Gang Gong 41
4 Tobin's q and investment in a model with multiple steady states by Mika Kato and Willi Semmler and Marvin Ofori 55
5 Significance of the Keynesian legacy from a theoretical viewpoint : a high-dimensional macrodynamic approach by Toichiro Asada 81
II Economics of time : nonlinear dynamics
6 Instability problems and policy issues in perfectly open economies by Peter Flaschel 99
7 Corridor stability of the neoclassical steady state by Akitaka Dohtani and Toshio Inaba and Hiroshi Osaka 129
8 Time-delayed dynamic model of renewable resource and population by Akio Matsumoto and Mami Suzuki and Yasuhisa Saito 145
9 A determinantal criterion of Hopf bifurcations and its application to economic dynamics by Junichi Minagawa 161
III Economics of space : empirical analysis
10 Public- and private-school competition : the spatial education production function by David M. Brasington 175
11 Innovation, R&D cooperation, and the geography of regional labor acquisition by Jaakko Simonen and Philip McCann 205
12 Taxation of car commuters' employer-subsidized parking by Rickard E. Wall 227
13 Forest protection system and optimal land-use management policy in Japan by Masahiro Yabuta and Yasuhito Yamanishi 239
IV Economics of space : theoretical analysis
14 Railway competition in a park-and-ride system by Tatsuaki Kuroda and Kazutoshi Miyazawa 265
