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We examine whether cooperation in R&D leads to product market collusion. Suppose that firms engage in a stochastic R&D race while maintaining the collusive equilibrium in a repeated-game framework. Innovation under competitive R&D creates inter-firm asymmetries, which destabilizes the collusive...
Persistent link: https://www.econbiz.de/10014221707
We examine whether cooperation in R&D leads to product market collusion. Suppose that firms engage in a stochastic R&D race while maintaining the collusive equilibrium in a repeated-game framework. Innovation under competitive R&D creates inter-firm asymmetries, which destabilizes the collusive...
Persistent link: https://www.econbiz.de/10010332459
This paper examines the effects of school curricula on subsequent preference formation. The estimation results, using Japanese data, show that the actual curriculum at public elementary schools varies widely from area to area and is associated with preference formation. Specifically, pupils who...
Persistent link: https://www.econbiz.de/10011421459
During the period of 2001-2006, the Liberal Democratic Party (LDP) adopted a market-oriented policy under the Koizumi cabinet. In 2006, following the formation of the first Abe cabinet, the LDP returned to a traditional redistributive policy. We assume that the supporters of the Koizumi cabinet...
Persistent link: https://www.econbiz.de/10011421464
's sporting event in Japan. The event is held immediately prior to the university application period in Japan. Using Japanese …
Persistent link: https://www.econbiz.de/10011421473
the Eurozone economies, the US, and developing Asia showing relatively weak home bias and advanced Asia, especially Japan … capital has been flowing from the US and the Eurozone economies to both advanced Asia (especially Japan) and developing Asia … reasons. The main reason in the case of advanced Asia (especially Japan) appears to be higher riskadjusted returns, whereas …
Persistent link: https://www.econbiz.de/10011421476
In this paper, I find (1) that Japan showed massive and persistent current account surpluses from at least 1981 and … until at least 2011, (2) that Professor Ronald McKinnon was correct, at least in the case of Japan, and that these large and … persistent current account surpluses were due primarily to Japan's large and persistent IS imbalances (the excess of saving over …
Persistent link: https://www.econbiz.de/10011421478
This paper investigates how people's happiness depends on their current activities and on time. We conducted an hourly web survey, in which 70 students reported their happiness every hour on one day every month from December 2006 to February 2008. This method is an extension of the experience...
Persistent link: https://www.econbiz.de/10011421487
. Estimating a fixed effects model, we found that supporters of the Democratic Party of Japan (DPJ), the winner, became … significantly happier, and supporters of the Liberal Democratic Party of Japan (LDP) and New Komeito, the losers, became …
Persistent link: https://www.econbiz.de/10011421503
In 1960s - 1980s Japan enjoyed high economic growth. In the early 1990s, however, the growth rate drastically declined … and thereafter Japan has been suffering secular stagnation. This paper proposes a dynamic macroeconomic model that can …
Persistent link: https://www.econbiz.de/10011421505