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Solving Hayashi and Prescott (2007) "The 1990s: Japan's lost decade" (extended with an exogenous population growth and labour-augmenting technical progress) using a Linear-quadrati...

Vasilev, Aleksandar - 2016

This notes outlines how to solve Hayashi and Prescott (2007) "The 1990s: Japan's Lost Decade", extended with an …

Persistent link: https://www.econbiz.de/10011427597

The depressing effect of agricultural institutions on the prewar Japanese economy

Hayashi, Fumio; Prescott, Edward C. - 2006

Persistent link: https://www.econbiz.de/10003298527

Can IT be Japan's savior

Hayashi, Fumio; Nomura, Koji - 2005

Persistent link: https://www.econbiz.de/10003207293

Ex-Day Behavior of Japanese Stock Prices : New Insights from New Methodology

Hayashi, Fumio - 2011

We study the ex-dividend day behavior of Japanese stock prices for the period 1983-87. We find that, contrary to previous findings, prices of ex-day stocks drop by nearly the full amount of the dividend. However, ex-day stocks shows an abnormal return. Also, for the many ex-dividend day stocks...

Persistent link: https://www.econbiz.de/10013118692

Nowcasting Japan's GDP

Hayashi, Fumio - 2020

This paper backtests a nowcast of Japan's real GDP growth. Its distinguishing features are use of genuine real …

Persistent link: https://www.econbiz.de/10012834028

Taxes and Corporate Investment in Japanese Manufacturing

Hayashi, Fumio - 2001

This paper examines the impact of taxes on the incentive to invest for the Japanese manufacturing sector in the postwar period. The idyosyricratic feature of the Japanese corporation tax system as compared to the U.S. is the prevelence of tax-free reserves and the tax deductibility of a part of...

Persistent link: https://www.econbiz.de/10012787995

The Relation between Firm Growth and Q with Multiple Capital Goods : Theory and Evidence from Panel Data on Japanese Firms

Hayashi, Fumio; Inoue, Taroh - 2021

We derive from a model of investment with multiple capital goods a one-to-one relation between the growth rate of the capital aggregate and the stock market-based Q. We estimate the growth-Q relation using a panel of Japanese manufacturing firms taking into account the endogeneity of Q....

Persistent link: https://www.econbiz.de/10013217217

The Permanent Income Hypothesis and Consumption Durability : Analysis Based on Japanese Panel Data

Hayashi, Fumio - 2021

The permanent income hypothesis is tested on a four-quarter panel of about two thousand Japanese households for ten commodity groups. Consumption is a distributed lag function of expenditures, and the utility function is additively separable in time. Durability is defined as the persistence of...

Persistent link: https://www.econbiz.de/10013218128

Measuring Depreciation for Japan : Rejoinder to Dekle and Summers

Hayashi, Fumio - 2021

rate (ratio of depreciation to the capital stock) is implausibly high. I argue in this rejoinder that Japan's high … Japan. Second, equipment capital (a component of the denominator in the depreciation rate) in the Japanese national accounts … seems underestimated. Therefore, my estimate of the level of depreciation for Japan does not seem exaggerated …

Persistent link: https://www.econbiz.de/10013221935

Japan'S Saving Rate : New Data and Reflections

Hayashi, Fumio - 2021

This paper examines available evidence on Japan's wealth accumulation. Time-series evidence over the last one hundred … accumulation in pre-war Japan was so slow. Perhaps growth in pre-war Japan was hampered by harmful effects of misguided government …

Persistent link: https://www.econbiz.de/10013235295