In this paper, we conduct an empirical analysis of the impact of better judicial enforcement on the probability of being credit rationed, loan size, and the probability of bankruptcy using household-level data from the Japanese Panel Survey of Consumers, conducted by the Institute for Research...

This paper challenges the classical view on the role of litigation in Japan by examining a particular type of litigation, namely private antitrust litigation. It shows that the widely held idea that antitrust litigation in Japan is rare only holds when compared to the US, not Europe. The...

A low-quality patent system threatens to slow the pace of technological progress. Concerns about low patent quality are supported by estimates from litigation studies suggesting that the majority of patents granted by the U.S. patent office should not have been issued. This paper proposes a new...

In Japan's civil law property system, courts recognize a form of extra-statutory security, the jōto tanpo or title-transfer security interest, that is created by conveying legal title to the creditor, with a promise to restore it to the debtor upon repayment. Although best known today as a...

In this paper, we conduct an empirical analysis of the impact of better judicial enforcement on the probability of being credit rationed, loan size, and the probability of bankruptcy using household-level data from the Japanese Panel Survey of Consumers, conducted by the Institute for Research...

Critics have long complained that lawyers dissipate value. Some do, of course. Some legal work dissipates more value than others, and the lawyers who focus on the most notorious rent-seeking sectors extract a heavy toll in the U.S. Whether lawyers choose to focus on value-dissipating or...

In 1890, when Louis Brandeis and Samuel Warren wrote their seminal work on The Right to Privacy, Japan did not have a word for the concept. Scholars settled on puraibashii a transliteration as opposed to translation, of the word privacy. Today, privacy is closely guarded in Japan; the European...

In this paper, we conduct an empirical analysis of the impact of better judicial enforcement on the probability of being credit rationed, loan size, and the probability of bankruptcy using household-level data from the Japanese Panel Survey of Consumers, conducted by the Institute for Research...

Recent developments in the literature on employment protection legislation (EPL) have revealed that changing the stringency of employment protection can lead to extensive consequences outside of the labour market, by affecting firms’ production decisions or workers’ commitment levels. This...