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Credit Booms, Debt Overhang and Secular Stagnation
Illing, Gerhard - 2017
the macroeconomic developments in Japan during its lost decades and other advanced economies before and during the Great …
Persistent link: https://www.econbiz.de/10012966912
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Why has Japan's massive government debt not wreaked havoc (yet)?
Horioka, Charles Yuji; Nomoto, Takaaki; … - 2013
In this paper, we present data on trends over time in government debt financing in Japan since 2010 with emphasis on … saving) caused by population aging, will make it necessary for Japan to get its fiscal house in order. Thus, Japan's massive …
Persistent link: https://www.econbiz.de/10010332404
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Financial distress and corporate investment: The Japanese case in the 90s
Ogawa, Kazuo - 2003
We examine quantitatively the extent to which financial distress in the 90s affected Japanese corporate investment. Based on the firm-level data that includes small, unlisted firms, we estimate investment function to measure the impact of financial distress on investment. We find that the firm's...
Persistent link: https://www.econbiz.de/10010332354
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The causes of Japan's 'lost decade': The role of household consumption
Horioka, Charles Yuji - 2006
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...
Persistent link: https://www.econbiz.de/10010332277
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The role of sponsor and external management on the capital structure of Asian-Pacific REITs: The case of Australia, Japan, and Singapore
Chen, Dong; Gao, Yanmin; Kaul, Mayank; Leung, Charles Ka Yui - 2015
three major Asian-Pacific REIT markets: Australia, Japan and Singapore. Our empirical results indicate that sponsored REITs …
Persistent link: https://www.econbiz.de/10011421491
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The hidden curriculum and social preferences
Ito, Takahiro; Kubota, Kohei; Ohtake, Fumio - 2015
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
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Relative income position and happiness: Are cabinet supporters different from others in Japan?
Yamamura, Eiji; Tsutsui, Yoshiro; Ohtake, Fumio - 2015
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
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Is university sports an advertisement in the higher education market? An analysis of the Hakone long-distance relay road race in Japan
Yamamura, Eiji - 2015
'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
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Explaining foreign holdings of Asia's debt securities: The Feldstein-Horioka paradox revisited
Horioka, Charles Yuji; Terada-Hagiwara, Akiko; Nomoto, … - 2015
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
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IS imbalances and current account surpluses in Japan: In memory of Professor Ronald I. McKinnon
Horioka, Charles Yuji - 2015
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