This paper investigates whether an increase in ABS issuance, or securitized products, by leasing companies has been influenced by Japanese banks’ tightened lending attitudes in 1990s. Our focus is in particular to examine the importance of asset securitization for leasing companies when...

Three basic mechanisms are behind the statistical relationship between fertility decisions and labor force participation decisions. 1) Causal direct effect: the time spent in child-care reduces the labor market effort leading to a temporary drop in post-birth labor force participation. 2) Causal...

We examine in this paper the role of an economy's social interaction structure, defined as a graph. Individuals care about the decisions of their neighbors. We extend the behavioral discrete-response rules along the lines of the interactive discrete choice model of Brock and Durlauf (2001) to...

Abstract It is increasingly recognized that institutional factors such as trade unions do play a dominant role in determining the levels of wages, standard of working conditions. This is more pronounced in the industrial sector of developing economies. The role of labor organizations in the...

Unlike previous studies on major choice of university students, this study considers a university's prestige in their choice of a major field. This study sets up an estimation model for a joint decision about where to go to university (prestigious or non-prestigious) and what major field to...

We describe a two-step algorithm for estimating dynamic games where the agents are assumed to play a Markov Perfect equilibrium. In the first step, the policy functions and the law of motion for the state variables are estimated. In the second step, the remaining structural parameters are...

There are different views on the specifications of market share models between economists and marketing researchers. The paper made a multi-criteria comparison between the two well-known demand system models, the AIDS and Translog model that are subject to the symmetry and homogeneity...

Recent terrorist attacks such as the attacks on the World Trade Centre in September 2001 have generated new interest in the debate on capital punishment. It has been suggested that support for the death penalty could be higher in the wake of terrorist activity. Using data from the Australian...

Valuation of the benefits from the preservation of water resources is often of interest to policy makers and funding institutions. In developing countries, valuation studies are potentially useful for designing funding policies when inequality is a concern. To fulfil this goal, however,...

This paper examines empirically the impact of reproductive externalities on fertility behaviour in one developing society - Kenya. We examine this issue by quantifying the effects of group membership on the number of children ever born. The focus of this study is the identification of structural...