Satoru Takahashi Department of Economics, National University of Singapore   Department of Economics National University of Singapore Singapore, 117570 Singapore   ecsst@nus.edu.sg   http://www.fas.nus.edu.sg/ecs/people/profile/ecsst.html           JEL Areas: C5 : Econometric Modeling: General E2 : Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)