著者

西 雷稔

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.43, no.5, pp.426-428, 1992-12-25 (Released:2008-02-28)

著者

幸村 千佳良

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.43, no.5, pp.428-429, 1992-12-25 (Released:2008-02-28)

著者

有賀 健

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.43, no.5, pp.429-431, 1992-12-25 (Released:2008-02-28)

著者

辻 賢二

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.43, no.3, pp.266-284, 1992-09-18 (Released:2007-10-19)

参考文献数

43

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The purpose of this paper is to make a empirical analysis of the adjustment speed of the bank loan rate. The crucial changes occurred in recent Japanese loan market. The previous studies showed that the adjustment speed of the bank loan rate increased. They estimated the parameters of a linear regression system obeying different regimes. They have a problem in that the regressions arn likely to be contaminated with observations from the other regimes. This paper circumvents this problem by a finding the switching points in time using the simulation method.

著者

北坂 真一

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.43, no.2, pp.165-176, 1992-06-20 (Released:2007-10-19)

参考文献数

20

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In this paper, the dynamic factor demand system that is derived from a firm's dynamic optimization behavior in the presence of adjustment costs is estimated for the Japanese iron and steel industry. The main estimation results we obtain are as follows;(1) The data indicate that adjustment costs for labor are much less important than those for capital.(2) We find that the demands for materials, energy and labor have become more responsive to changes in their own prices through the first and second oil crises, while the demand for capital has become less responsive to changes in each price.(3) It is found that capital and energy are substitutes in the long run.

著者

是川 晴彦

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.43, no.3, pp.246-257, 1992-09-18 (Released:2007-10-19)

参考文献数

15

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This paper considers the issues of gradual reform of not only commodity tax but also factor tax. Using the two-sector model, a simple rule of tax reform is proposed, after the effects of changes of tax rates on the social welfare are examined. This rule, which is expressed in terms of observable economic variables, is applicable however tax rates may be assigned.

著者

康 聖一

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.43, no.3, pp.258-265, 1992-09-18 (Released:2007-10-19)

参考文献数

4

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This paper examines the economic role of mandatory disclosure in a noisy rational expectations model. Many theoretical studies of discretionary disclosure suggest that firms never have the incentive to spend less on disclosure than is socially optimal and offer no support for mandatory disclosure regulations.This paper, however, derives the paradoxical result that mandatory disclosure may increase the social surplus even when firms have the incentive to spend more on disclosure than is socially optimal. The reason is that mandatory disclosure may increase the cost of disclosing too much information and discourage firms from making this overdisclosure decision.

著者

大住 康之

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.43, no.1, pp.67-79, 1992-03-19 (Released:2007-10-19)

参考文献数

15

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The disequilibrium theory developed by Barro-Grossman (1976), Malinvaud (1985), Muellbauer-Portes (1978) etc has contributed toward elaborating the theory of unemployment. Malinvaud expanded the static version of disequilibrium theory into dynamic one. He asserts that Keynesian unemployment is lasting, whereas classical unemployment is transient by nature. His analysis of the assertion, however, is incomplete in part.In this paper, we examine Malinvaud's assertion by using a generalized dynamic model. This model clalifies the dynamic movement of the system through the regimes of Keynesian unemployment, classical unemployment and repressed inflation. We find that whether Malinvaud's assertion holds true or not depends on the size of potential exess demand in goods markets and the relative regidities of prices and wages.

著者

脇田 成

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.42, no.3, pp.275-286, 1991-09-20 (Released:2007-10-19)

参考文献数

17

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Using survey data in the Tokyo foreign exchange market we consider the two popular hypothesis that explain the drastic appreciation of the yen after the G5. One hypothesis is that the long-term expected rate is drastically changed and the other is that the coordinated monetary policy moves the expectations of market participants. Standard tests of rational expectations do not give the affirmative evidence on these hypothesis.

著者

二神 孝一

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.42, no.2, pp.164-173, 1991-06-20 (Released:2008-02-28)

参考文献数

32

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This paper examines Harrodian instability by using the model in which a representative firm maximizes its own profit rate taking a subjective demand function into account. The subjective demand function considered by the firm contains the aggregate demand of economy as an important parameter. This implies that the firm would pay attention to the economic state as a whole. The analysis based on this model shows that its stationary state can be asymptotically stable or there can exist closed cycles around the stationary state in spite of Harrodian investment behavior. Applying the Hopf bifurcation theorem we can demonstrate such character of the dynamic system considered in this paper. Disequilibrium may take place at the stationary state, hence, we call the fluctuation "quasi growth cycle."

著者

土田 秀

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.42, no.2, pp.181-191, 1991-06-20 (Released:2008-02-28)

参考文献数

9

著者

島本 哲朗

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.42, no.1, pp.50-61, 1991-03-20 (Released:2007-10-19)

参考文献数

14

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There is a general view that the monetary authority can attain a better performance by using information known only to it. This paper discusses the validity of this view under the situation where the monetary authority does not know the information sets of the private sector. We conclude that while the above view still holds if the information known only to the monetary authority is released to the private sector, it is not necessarily true if such information is used to the feedback rule of money supply.

著者

大滝 雅之 山崎 福寿 深尾 京司

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.4, pp.336-352, 1990-12-20 (Released:2007-10-19)

参考文献数

26

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Deregulation of Japan's foreign exchange markets has remarkably progressed in 1980s. This paper studies how the deregulation affects the pattern of economic fluctuations and the optimal monetary policy. The monetary authority is assumed to control money supply in response to various exogenous shocks, in order to minimize the weighted average of variances of GNP and the price index. Interestingly, in the economy with deregulated foreign exchange markets, the monetary authority should response more sensitive to shocks which are occurred at foreign countries such as unexpected changes of foreign government expenditure and monetary policy than to domestic shocks. It is shown that the optimal monetary policy derived in this paper is free from Lucas Critic in that the policy which is optimal under the assumption of static expectation on government policy is not necessarily optimal under rational expectation.

著者

柳川 範之

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.4, pp.353-366, 1990-12-20 (Released:2007-10-19)

参考文献数

19

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Brander and Spencer (1984a) showed the new aspect of the tariff policy in the imperfectly competitive market (rent shifting). This paper examines how welfare is affected and the policy fails when the direct investment is induced by that tariff policy. It is shown, among other things, that (a) welfare of the host country is lowered even compared to the free trade regime when entry is restricted, that (b) with free entry of firms, welfare of the host country is enhanced compared to the free trade regime, and that (c) if the traiff war occurs, welfare of the both countries are always lowered compared to any regimes.

著者

荻野 和則

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.2, pp.183-187, 1990-06-20 (Released:2007-10-19)

参考文献数

13

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In a specific factor model we examined the equivalence of tariffs and quotas under capital movements. We derived three results. First, both policies become equivalent despite the presence of the foreign capital which is fixed. Second, under free capital mobility, welfare depends only on the domestic price irrespective of the kind of policies. Third, the equivalence breaks down and the quota policy establishes higher welfare, a lower domestic price and the lower foreign capital stock under free capital mobility.

著者

中込 正樹

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.1, pp.88-90, 1990-03-20 (Released:2008-02-28)

参考文献数

3

著者

永谷 敬三

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.1, pp.91-92, 1990-03-20 (Released:2008-02-28)

著者

酒井 泰弘

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.1, pp.92-93, 1990-03-20 (Released:2008-02-28)

著者

深谷 庄一

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.2, pp.166-182, 1990-06-20 (Released:2007-10-19)

参考文献数

23

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This econometric study is an attempt to build a politico-economic model of Japan. It explicitlyspecifies the interrelationship between policy decision process and economic mechanism. There seems to be a difficulty that political variables are too scarce to build an econometric model. This analysis interpolates many political data, making use of the so-called spline functions, so that our model consists of as many political variables as economic ones. The policy variable is public investment, determined through political process (political variables). Those political variables depend upon economic outcomes, caused partly by that policy.A simulation analysis shows that an expansionary fiscal policy will finally lower the popularity of the Liberal-Democratic-Party, although temporarily raise up its popularity.

著者

宇澤 弘文

出版者

日本経済学会

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.1, pp.1-14, 1990-03-20 (Released:2008-02-28)