The authors state the Japanese government's role in creating a macroeconomic and financial environment conducive to rapid industrialization went beyond maintaining price stability. The government created a stable but segmented and tightly regulated financial system that favored the financing of...

In 1976 Japan expanded the scope of its patent law by extending coverage to newly-developed chemical and pharmaceutical products. Previously the patent law had only provided protection to new production processes for manufacturing chemicals and pharmaceuticals. We use rate of return data from...

This paper investigates the bankruptcy of Aloha Airlines and its exit from Hawaii’s interisland passenger market in order to examine whether government intervention is warranted based on the presumed benefits to the general public. A regression analysis of interisland traffic volume does not...

This article investigates the effect of baseball's designated hitter rule on the number of hit batsmen, with a focus on individual pitchers. Researchers have debated the rule's incentives for pitchers and its impact on hit batsmen based on aggregate and cross-section statistics: They treat...

Teams in Japan’s two professional baseball leagues began to add foreign players to their rosters in the early 1950s, with the average number of foreign players per team reaching 5.79 in 2004. One reason for their increased use of foreign players was that foreign hitters substantially...

This paper investigates local government consolidations with a focus on public choice aspects in the decision-making. Politicians could lose future payoffs if their locality merges with a larger counterpart, and they may sabotage the merger process. The analysis with data from 3,212 Japanese...

This paper will investigate deregulation and the adaptation of governance structure in reference to Japan's banking industry. Deregulation of Japanese banks in the 1980s offers an interesting case study as these banks fell into serious solvency problems in the post-deregulation 1990s. By...

The central bank of Bhutan issues its currency the ngultrum. At the same time, the Indian rupee circulates within the country with parity This paper investigates the implications of rupee circulation for monetary policy in Bhutan using the money multiplier framework and evaluates the impact of...