This paper investigates regression quantiles (RQ) for unstable autoregressive models. The unifoem Bahadur representation of the RQ process is obtained. The joint asymptotic distribution of the RQ process is derived in a unified manner for all types of characteristic roots on or outside the unit...

The marketing literature refers to the concept of brand capital and provides empirical evidence that firms with a large stock of well-established brands have an advantage in introducing new products. This paper develops a theory of brand extension as a mechanism for informational leverage in...

This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a desire for dynasty building) and shows that these assumptions have very different implications for bequest motives and bequest division. After reviewing some of the literature on...

In this paper, we conduct a dynamic panel analysis of the determinants of the household saving rate in China using a life cycle model and panel data on Chinese provinces for the 1995-2004 period from China's household survey. We find that China's household saving rate has been high and rising...

The purpose of this study is to evaluate the economic benefits of country of origin labeling (COOL) regulation by estimating the consumer's willingness to pay (WTP) for Taiwan products vs. other imported products if clearly labeled with their countries of origin. We employ the Vickrey...

In this paper, I conduct an international comparison of the financial health of households using data on household wealth and indebtedness for the Group of Seven (G7) countries and show that, even though household borrowings in Japan were the highest among the G7 countries, at least until 2000,...

In this paper, I analyze the causes of the prolonged slowdown of the Japanese economy in the 1990s and find that the stagnation of investment, especially private fixed investment, was the primary culprit. I then investigate the causes of the stagnation of household consumption during the 1990s...

This paper analyzes what adult children would do for their parents were they frail and in need of long-term care. Focusing on the special case of parents' illness, the paper then investigates altruism in Japanese children. Descriptive statistics show that about 30% of adult children living...

We analyze the impact of population aging on Japan's household saving rate and on its public pension system and the impact of that system on Japan's household saving rate and obtain the following results: first, the age structure of Japan's population can explain the level of, and past and...

In this paper, we present data on recent trends in private consumption and in possible determinants of private consumption (such as GDP, household incomes, household saving rates, household wealth, and employment conditions) in the Group of Seven (G7) countries and find that there has been...