The Institute of Economic Research was established in 1962 with the primary purpose of promoting quantitative economic research with special emphasis on the Japanese economy. The range of current research activities includes theoretical and empirical studies of Japanese industrial organizations; comparative studies of industrial relations; comparisons of economic systems; cost-benefit analyses of environmental systems; public economics; urban economics; financial economics; financial engineering; and game theory. The range of these research activities includes research and development of short-term econometric forecasting and quantitative management models of the Japanese economy