文献一覧: JAPANESE ECONOMIC ASSOCIATION (出版者)

1 0 0 0 OA AN INCENTIVE COMPATIBLE TAX RULE FOR ATTAINING LINDAHL ALLOCATIONS

著者: TADAAKI YOSHIOKA
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.3, pp.284-288, 1993-09-20 (Released:2007-10-19)
参考文献数: 10

2021-01-28 20:42:00
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1 0 0 0 OA A NOTE ON PUBLIC GOODS PROVISION AND COMMODITY TAXES

著者: HIDEO KONISHI
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.2, pp.178-184, 1993-06-18 (Released:2007-10-19)
参考文献数: 12

In this note, we investigated a rule for the optimal provision of public goods in a many consumerseconomy when an optimal commodity tax is available. We obtained an intuitive formulawhich demonstrates that divergence from the first best rule is based on (i) the revenue repercussioneffect, (ii) the Pigou-Harberger's dead weight loss effect, and (iii) the total distribution effectof public good provision. How this result relates to previous works was also analyzed. It was shown that our decomposition formula does apply even for the cost benefit approach employed in Batina (1990).

2021-01-28 20:41:00
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1 0 0 0 OA INDIVIDUAL WELFARE, THE VOLATILITY OF PRICES, AND RATES OF RETURN ON NOMINAL ASSETS

著者: BERNHARD ECKWERT
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.3, pp.193-205, 1993-09-20 (Released:2007-10-19)
参考文献数: 21

Within the framework of a stochastic version of the overlapping generations model a general choice theoretic portfolio approach is presented. Competitive equilibria are shown to be nonoptimal in a Pareto sense (and hence can potentially be improved by some policy action), if there exist two individuals of some generation t, such that the ratio of marginal utilities of future consumption is random. Finally, a short-run welfare criterion is provided, which is based on observable data only. The ordering induced by this criterion on the set of competitive equilibria is not complete, however.

2021-01-28 20:41:00
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1 0 0 0 OA COLLUSION VERSUS EFFICIENCY IN THE JAPANESE REGIONAL BANKING INDUSTRY

著者: WILSON A. ALLEY
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.3, pp.206-215, 1993-09-20 (Released:2007-10-19)
参考文献数: 11

This paper uses a behavioural approach to test the hypothesis that Japan's regional banking performance is primarily the result of efficiency and is best described by the efficient structure hypothesis as opposed to the structure-conduct-performance hypothesis. Our model allows us for the first time to estimate the degree of (implicit) collusion in the Japanese regional banking industry. This paper finds that significant collusion does occur. This result leads us to conclude that the structure-conduct-performance hypothesis better explains Japan's regional banking performance.

2021-01-28 20:41:00
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1 0 0 0 OA OVERINVESTMENT AND OVERBORROWING UNDER THE DEBT CONTRACTS

著者: MASAYA SAKURAGAWA
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.3, pp.216-232, 1993-09-20 (Released:2007-10-19)
参考文献数: 11

In the presence of asymmetric information between a lender and a borrower with costly monitoring, we investigate a contract form and an optimal loan size are investigated. The optimal contract has the features of a standard debt contract. However, the optimal loan size does not always take the form of maximum equity participation. If per unit of return from lending is a decreasing function of the loan size, the contract takes the form of maximum equity participation. Conversely, if per unit of return from lending is an increasing function of the loan size, overinvestment or overborrowing may arise.

2021-01-28 20:41:00
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1 0 0 0 OA PERFORMANCE OF THE STEIN-RULE ESTIMATORS WHEN THE DISTURBANCES ARE MISSPECIFIED AS SPHERICAL

著者: A. CHATURVEDI TRAN VAN HOA GOVIND SHUKLA
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.2, pp.97-107, 1993-06-18 (Released:2007-10-19)
参考文献数: 9

The paper investigates the effects of misspecifying the disturbances in a linear regression model as spherical on the efficiency properties of the Stein-rule estimators. Asymptotic distribution of the Stein-rule estimator based on the OLS estimator is derived when the disturbances covariance matrix is nonscalar. The effects of non-spherical disturbances on the dominance conditions of the Stein-rule estimator is also observed. The risks under quadratic loss function of the Stein-rule estimators based on the OLS and the FGLS estimators are compared under a Pitman drift criterion.

2021-01-28 20:40:00
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1 0 0 0 OA ON INFLATION AND GROWTH IN THE LDCs

著者: RICHARD G. ZIND
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.2, pp.108-116, 1993-06-18 (Released:2007-10-19)
参考文献数: 19

We analyze in this study the relation between changes in the price level and in income growth in the LDCs. Based on the World Bank 1965-1980 growth rates data drawn from 66 LDCs, we found significant evidence of a positive causal relation between the money supply growth rate and the inflation rate and a negative causal relation between income growth and the inflation rate. We also found that the money supply growth rate impacted positively both the inflation rate and income growth. The effect of this increase on income depends on the response of economic agents to the price increases. Our estimates, based on Summers and Heston data, agree with a basic postulate of the Lucas model: there is a significant weakening of the response as the variance of the nominal income growth rate increases. Finally, we found that prices have tended to converge among nation over the past two decades.

2021-01-28 20:40:00
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1 0 0 0 OA AUSTERITY MEASURES UNDER DEBT FINANCE IN A WORLD ECONOMY WITH OVERLAPPING GENERATIONS

著者: RAYMOND G. BATINA TOSHIHIRO IHORI
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.2, pp.117-130, 1993-06-18 (Released:2007-10-19)
参考文献数: 16

An increase in the foreign country's stock of debt will raise the world interest rate and may cause the world economy to begin following a divergent path which eventually leads to bankruptcy. A number of austerity measures are discussed, e.g., tax increases, public spending decreases, and institutional reforms. Each will have a different effect on the steady state equilibrium and the dynamic adjustment path of the economy and paradoxical results may occur depending on the response of capital accumulation.

2021-01-28 20:40:00
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1 0 0 0 OA A TAX PROGRESSIVITY INDEX BASED UPON THE EXPECTED LIFE-CYCLE UTILITY

著者: MOTOTSUGU FUKUSHIGE
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.2, pp.131-141, 1993-06-18 (Released:2007-10-19)
参考文献数: 22

After tax income and consumption of each income class are cointegrated respectively, we can estimate an ideal before tax consumption from the Permanent Income Hypothesis point of view. In this paper, with this estimated before tax consumption, we calculate the before tax version of the economic inequality measure proposed by Fukushige (1989), and evaluate the tax progressivity by their rate of change from the before tax version to the after tax version. This index has several theoretical advantages. Also its empirical application to Japanese data makes its advantages clear.

2021-01-28 20:40:00
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1 0 0 0 OA ESTIMATION OF EQUIVALENCE SCALE USING JAPANESE DATA

著者: TERUKAZU SURUGA
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.2, pp.169-177, 1993-06-18 (Released:2007-10-19)
参考文献数: 15

2021-01-28 20:40:00
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1 0 0 0 OA GLOBAL WARMING AND ECONOMIC POLICY

著者: AKIHIRO AMANO
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.1, pp.1-12, 1993-03-19 (Released:2008-02-28)
参考文献数: 30

2021-01-28 20:39:00
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1 0 0 0 OA A STUDY OF HOUSEHOLD INVESTMENT PATTERNS IN JAPAN: AN APPLICATION OF GENERALIZED TOBIT MODEL

著者: TAKESHI AMEMIYA MAKOTO SAITO KEIKO SHIMONO
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.1, pp.13-28, 1993-03-19 (Released:2008-02-28)
参考文献数: 6

In this paper we analyze the investment patterns of Japanese households using three kinds of generalized Tobit models. We consider the following three types of investments: (1) bank deposits, (2) long-term income-gain assets, and (3) capital-gain assets. Generalized Tobit models are called for because there are households which do not possess either or both of the last two types of assets. In our data every household does possess the first type of asset, and this fact will be incorporated into our models as a priori specification. The three models we estimate are a simultaneous equations Tobit model, a Dubin-McFadden type model, and a sequential Tobit model. The first model arises from a Kuhn-Tucker solution to the maximization of a quadratic utility function subject to the constraint that the sum of the investments into the three types of assets is equal to an exogenously-determined value of the total assets of a household. The second model is based on the assumption that there are fixed costs of owning the last two types of assets. Finally, the last model is derived from the assumption that a household first determines the amount of the first type of asset it should hold and second allocates whatever left into the other two types of assets. Simpler, more obvious ways to analyze our data are available, such as ordinary least squares, probit and logit, and standard Tobit. These estimates are also reported and compared with our elaborate estimates in a later section.

2021-01-28 20:39:00
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1 0 0 0 OA TENURE CHOICE AND THE DEMAND FOR RENTAL HOUSING IN JAPAN

著者: YOKO MORIIZUMI
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.1, pp.29-40, 1993-03-19 (Released:2008-02-28)
参考文献数: 14

2021-01-28 20:39:00
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1 0 0 0 OA OPTIMAL TAXATION AND PRODUCTION EFFICIENCY RECONSIDERED

著者: MASATOSHI YAMADA
出版者: JAPANESE ECONOMIC ASSOCIATION
雑誌: The Economic Studies Quarterly (ISSN:0557109X)
巻号頁・発行日: vol.44, no.1, pp.41-53, 1993-03-19 (Released:2008-02-28)
参考文献数: 16

This paper elucidates the question of whether production efficiency (in the weak sense) obtains in an optimally taxed economy, which is posed by the seminal paper of Diamond and Mirrlees. This paper presents a complete conclusion and a proof for that the (desirability of) production efficiency holds, except (i) a not interesting case where private production is wholly less efficient than public production, or (ii) a case where some good(s) is exempt from tax imposition.