This is a translation of Cassel's "Socialpolitik"(1902). Today this book is almost forgotten even in Sweden. But it had a great influence on public opinion in those days. We should pay attention to following four points in Cassel's discussion in this book. 1) Cassel criticizes (Manchester)...

We explore how changes in ownership and managerial control affect the productivity and profitability of producers. Using detailed operational, financial, management, and ownership data from the Japanese cotton spinning industry at the turn of the last century, we find a more nuanced picture than...

<p>In this article, we propose tests for covariance matrices of high dimension with fewer observations than the dimension for a general class of distributions with positive definite covariance matrices. In one-sample case, tests are proposed for sphericity and for testing the hypothesis that the...</p>

We consider minimax shrinkage estimation of a location vector of a spherically symmetric distribution under a loss function which is a concave function of the usual squared error loss. In particular for distributions which are scale mixtures of normals (and somewhat more generally), and for...

A smoothing spline is considered to propose a novel model for the time-varying quantile of the univariate time series using a state space approach. A correlation is further incorporated between the dependent variable and its one-step-ahead quantile. Using a Bayesian approach, an efficient Markov...

New economic geography focuses on the impact of falling transport costs on the spatial distribution of activities. However, it disregards the role of technological innovations, which are central to modern economic growth, as well as the role of migration costs, which are a strong impediment to...

This paper develops a new scheme for improving an approximation method of a probability density function, which is inspired by the idea in <I>best approximation in an inner product space</I>. Moreover, we applies "Dykstra's cyclic projections algorithm" for its implementation. Numerical examples for...</i>

This paper develops a general pricing method for multi-asset cross currency options, whose underlying asset consists of multiple different assets, and the evaluation currency is different from the ones used in the most liquid market of each asset; the examples include cross currency options,...

This paper considers likelihood-based testing of the null hypothesis of <em>m0</em> components against the alternative of <em>m</em>0+1 components in a finite mixture model. The number of components is an important parameter in the applications of finite mixture models. Still, testing the number of components has...

This article empirically analyzes consumer behavior of watching TV dramas via case-based decision theory. This theory models consumer decision under uncertainty in product quality, based on subjective evaluations of previous purchases for similar goods. Our empirical analysis is concerned with...</i>