We estimate a corporate demand model for bank loans on the basis of a panel data set of the Japanese corporations. What is novel is an explicit treatment of borrowing constraints in the estimation, which is formulated as a function of the land asset of the firms. The model is estimated by...

We estimate a corporate demand model for bank loans on the basis of a panel data set of the Japanese corporations. What is novel is an explicit treatment of borrowing constraints in the estimation, which is formulated as a function of the land asset of the firms. The model is estimated by...

We project the future trends of the japanese saving rates with special emphasis on an analysis of the consumption and saving behavior of the household sector. Notable feature of our modeling is that savings are divided into financial and real savings components. This approach is useful since the...

Many attempts have been made to explain practical pay and promotion systems in a firm as a consequence of rational behaviour of both the employer and the employee. Recently the incentive theory has played a key role in this literature. The main subject of the incentive approachesis analyzing how...