To control for product quality and eliminate the exchange rate volatility effect, we use the Japanese regional data to study the Penn effect - the positive relationship between price and income levels. Similarly to what is widely documented with international data, the price and income levels...

In this paper we analyze the role played by Market access to explain income disparities among Japanese Prefectures for different periods of time. The results of the estimations suggest that 1) Market access plays an important role in the explanation of income disparities in Japan, 2) the effect...

In this paper we analyze the role played by Market access to explain income disparities among Japanese Prefectures for different periods of time. The results of the estimations suggest that 1) Market access plays an important role in the explanation of income disparities in Japan, 2) the effect...