著者

JACQUES THÉPOT

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.3, pp.270-281, 1990-09-20 (Released:2007-10-19)

参考文献数

9

---

This paper develops an analysis of price and investment strategies of duopolists over a business cycle by using a differential game model. The results indicate how competition within an industry contributes to the instability of investment of the firms and to the spreading of the recession throughout the economic system.

著者

KAZUHIKO MIKAMI

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.3, pp.259-269, 1990-09-20 (Released:2007-10-19)

参考文献数

15

---

This paper considers a trade-off between efficiency and equity which results from a commodity tax reform. First we derive a theoretical proposition which characterizes the efficiency effect and the equity effect brought about by a tax reform. Then, we apply the theoretical result to Japanese liquor tax structure and calculate the welfare variation caused by a tax reform.

著者

KEN URAI

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.3, pp.235-246, 1990-09-20 (Released:2007-10-19)

参考文献数

8

---

In a general overlapping-generations economy, the existence of a Pareto-optimal allocation is proved by using Zorn's lemma, and the existence of a competitive equilibrium is proved, without truncation, by using Glicksberg's fixed point theorem. The assumptions such as Intertemporal Irreducibility or Intertemporal Resource-relatedness are not needed.

著者

CHULSOON KHANG

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.3, pp.221-234, 1990-09-20 (Released:2007-10-19)

参考文献数

13

---

In wake of the recent Black Monday stock market crash it is often argued that the twin deficits of the U.S. (government) budget and trade are the main causes for the “ailing” U.S. and world economies. It is argued within the framework of a two-country dynamic model that the persistent current account imbalance and its implied national indebtedness are a natural consequence of differential national saving rates in the world of integrated capital markets and that any direct interference hampering an orderly flow of capital makes both countries worse off. It is also shown that, though an increase in the saving rate of the higher saving country makes the lower saving country better off, an increase in the saving rate of the lower saving country makes the higher saving country worse off, both in the short run and long run.

著者

ANTONIO D'AGATA

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.3, pp.247-258, 1990-09-20 (Released:2007-10-19)

参考文献数

17

---

In dealing with the existence of gains from trade due to overhead costs, Negishi (1969) and (1972) extended Bain-Sylos Labini theory of oligopolistic markets to a general equilibrium framework. In our opinion, Negishi's analysis exhibits several drawbacks which should be clearly spelled out and removed if one wants to have a satisfactory study of barriers to entry in a general equilibrium framework.The aim of this paper is to make clear what, in our view, the weak points in Negishi's analysis are, and to formulate a more satisfactory general equilibrium model in which, following Bain and Sylos Labini's analysis, overhead costs yield barriers to entry.

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

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

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

JUN IRITANI

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.2, pp.124-133, 1990-06-20 (Released:2007-10-19)

参考文献数

10

---

The non-linear Leontief System has been built on the‘Input Function.’The objectives of this paper are to give a micro foundation of input functions in a competitive economy and to examine whether or not standard results remain true in the non-linear environments. The results obtained here are (i) that we can successfully construct an input function from the neoclassical production functions, (ii) that the duality equality holds, and (iii) that weak solvability implies local solvability.

著者

KATSUSHI TERASAKI

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.2, pp.115-123, 1990-06-20 (Released:2007-10-19)

参考文献数

7

---

The purposes of this article are to construct a simple general equilibrium model with pure public good and endogenous factor income tax based on the Lindahl pricing rule and consistently to generalize Okamoto (1985) further. The main result is that if all the factor augmenting functions attached to the primary inputs in the private sectors are directly proportional to each other, then the stability condition is satisfied and the main trade theorems hold.

著者

TADASHI YAGI

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.2, pp.134-154, 1990-06-20 (Released:2007-10-19)

参考文献数

16

---

Many people believe that it is undesirable to redistribute income through an annuity system. From an efficiency point of view, it seems to be better to use a tax system to redistribute income. This paper examines the reasons why an annuity system is used to redistribute income, even when the tax system has a redistributive role. Without myopia and capital market imperfections, redistribution through an annuity system has no advantage compared with a tax system. If individuals are myopic and the capital market is imperfect, however, redistribution through an annuity system increases national saving and has a positive effect on capital formation. The paper shows, in addition, that differences in behavior among income classes are important for public policy-making.

著者

TAKEAKI KARIYA

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.2, pp.155-165, 1990-06-20 (Released:2007-10-19)

参考文献数

11

---

In this article, we generalize the Carlson-Parkin (1975) method for the estimation of expected inflation rates based on qualitative surveys. An important generalization is that in our model, people's responses to the question given can be random while in the Carlson-Parkin method, they are not random. Second, alternative determinations of a threshold value are proposed. Third, the problem is treated with a gamma response function under a gamma distribution.

著者

WOLFGANG MAYER

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.2, pp.97-114, 1990-06-20 (Released:2007-10-19)

参考文献数

14

---

This paper adopts a non-Walrasian formulation of the labor market, as suggested by Arrow, Negishi, and Hahn, and constructs a general equilibrium trade model in which unemployment occurs although wage rates adjust. The purpose of the study is to examine the effectiveness of various trade policies on unemployment in different sectors and on income received by factor owners. Different assumptions about intersectoral mobility of both labor and capital are introduced, with the implication that policies which seem to fight sectoral unemployment in the short run might lead to higher unemployment in the long run. Concerning endowment changes, if a country experiences an inflow of labor, this will raise unemployment rates only temporarily, but leave them unchanged in the long run. Finally, the impact of tariffs on factor returns in unemployed industries is limited to short-run effects, while endowment changes have no impact on factor returns in either short or long run.

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

---

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

上島 康弘

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.78-87, 1990-03-20 (Released:2008-02-28)

参考文献数

19

---

In this paper, we build a two-period model which focuses on On-the-Job training and derive the effects of specific training on wage profiles and on dismissals. The main results we obtain are as follows:(i) Our two period wage-employment contract dominates the familiar repetitive spot contract in the environment of restricted information.(ii) In this contract, the employees are not necessarily dismissed even if a business deficit is incurred.(iii) In principle, greater amounts of specific training make wage profiles steeper and restrict dismissals.

著者

TAKAO FUJIMOTO

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.40, no.4, pp.364-368, 1989-12-20 (Released:2007-10-19)

参考文献数

11

著者

TAKAO FUJIMOTO

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.40, no.4, pp.369-373, 1989-12-20 (Released:2007-10-19)

参考文献数

18

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)

著者

NAOTO KUNITOMO TAKU YAMAMOTO

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.1, pp.15-33, 1990-03-20 (Released:2008-02-28)

参考文献数

27

---

The method of testing the cross-equation restrictions under the rational expectation (RE) hypothesis based upon the fitted vector autoregressive (VAR) time series models has been used. It has been applied to test the cross-equation restrictions implied by the expectation hypothesis for the term structure of interest rates, the present value relation in the stock market, and the efficiency hypothesis without risk premium in forward exchange rate market.We point out that two conventional econometric practices of the prefiltering (or differencing) and the use of law of iterated projection are often inconsistent with the restrictions imposed by the RE hypothesis. We explore the general relation between this inconsistency problem and the cointegrated stochastic processes. New sufficient conditions for logical consistency to test the restrictions imposed by the RE hypothesis are given. We show that some cointegrated filter can be used as a possible solution in some cases. Further, we propose a necessary and sufficient condition for testing the cross-equation constraints imposed by the RE hypothesis based upon the vector autoregressive moving average (VARMA) models, which can be useful as a solution to the difficulty caused by an improper use of the law of iterated projection.

著者

MAKOTO TAWADA SEI-ICHI KATAYAMA

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.41, no.1, pp.34-47, 1990-03-20 (Released:2008-02-28)

参考文献数

16

---

This paper gives an empirical examination of efficiency of the regulated firm. Rate of return regulation is a typical feature of the public utility environment. The theoretical analysis by Averch-Johnson showed the existence of a regulatory bias toward overcapitalization. We reexamine and elaborate the method of the empirical test for the Averch-Johnson proposition. And we apply it to the Japanese electric power industry. We showed that the Averch-Johnson proposition was not necessarily confirmed and the production in the Japanese electric power industry was efficient for some period in spite of regulation.