The purpose of my research at the East-West Center is to analyze the effects of demographic changes, such as changes in longevity and fertility, on private education expenditures and economic growth in Japan and the United States. This research seeks to answer the following questions: (1) How do private education expenditures and private savings change if longevity and/or the number of children changes? (2) Are the effects of longevity and the number of children on savings and private expenditures in Japan different from those in the United States? (3) What types of policies regarding education and childcare should be implemented in both countries? I will begin by theoretically analyzing the effect of longevity and fertility on human capital and economic growth. I will use economics theory to analyze the effect of longevity and changes in the number of children on private education expenditures and economic growth. I will then investigate the implications of my theoretical findings using macroeconomics data and household data from Japan and the United States. First, I will use time-series data from the United States and Japan and will estimate the effects of longevity and the number of children on private education expenditures, savings, and economic growth, and will then compare the results. Second, I will analyze household data from both countries, investigating how individuals' health status and number of children influence education expenditures and savings behavior. In the research process, I would like to learn and apply the method of the National Transfer Accounts project, of which Professor Andrew Mason is the co-director. I will consider the age profile of private education expenditures using this method and estimate the effects of the individual's health status and willingness to care for elderly parents on education expenditures. Finally, I will consider policy issues in detail, comprehensively taking into account the results of the theoretical and empirical analyses. I will compare the results of Japan and the United States and will consider the types of policies that might contribute to an increase in private expenditures and sustainable economic growth in both countries. If the commonly accepted system of either country is disadvantageous to economic growth, extensive reforms may be suggested. The East-West Center, where I will be a visiting scholar next year, is considered the most appropriate place to conduct this research because it is host to many excellent population and economics researchers. Above all, Professor Mason is one of the most well-known population economists worldwide, and he and other researchers at the East-West Center are very interested in East Asian countries, including Japan. I intend to present the interim and final results and conclusions at seminars held by the East-West Center and the University of Hawaii and at the international conference. Upon returning to Japan, I will make a presentation at the academic association in Japan and at a seminar held by my university so that many researchers in Japan can learn about and further develop my research.