Estimation of small area means under a basic area level model is studied, using an empirical Bayes (best) estimator or a weighted estimator with fixed weights. Mean squared errors (MSEs) of the estimators and nearly unbiased (or exactly unbiased) estimators of MSE are derived under three...

Stage theory of capitalist development proposed by Kozo Uno(1897 - 1977) is a method to clarify the characteristics of imperial capitalism that started at the end of the 19th century typically in Germany. It is founded on the revise of Marx's "Capital". However, in order to depict the new rise...

This paper demonstrates new practical auction formats that are well tailored for the forthcoming 3.4 ~ 3.6 GHz spectrum allocation problem, which will be expected to become the first experience of spectrum auction in the Japanese society. The general term of these formats is the Japanese package...

This paper addresses a fundamental question on corporate governance, "What did corporate executives, outside directors and large shareholders really do ?" Although this question is essential, it has not been fully addressed in the literature, basically due to the constraint of relevant...

This paper studies how well a search and matching model can describe aggregate Japanese labor market dynamics in a full information setting. We develop a discrete- time search and matching model with productivity and separation shocks and use it as a data-generating process for our empirical...

In the forthcoming ISDA Standard Credit Support Annex (SCSA), the trades denominated in non-G5 currencies as well as those include multiple currencies are expected to be allocated to the USD silo, where the contracts are collateralized by USD cash, or a different currency with an appropriate...

This paper proposes a general approximation method for the solutions to second-order parabolic partial differential equations (PDEs) widely used in finance through an extension of Léandre's approach(Léandre (2006,2008)) and the Bismut identiy(e.g. chapter IX-7 of Malliavin (1997)) in Malliavin...

In this article, we consider the problem of testing the equality of mean vectors of dimension ρ of several groups with a common unknown non-singular covariance matrix Σ, based on <em>N</em> independent observation vectors where <em>N</em> may be less than the dimension ρ. This problem, known in the literature...

We consider an axiomatic characterization of the plurality rule, which selects the alternative(s) most preferred by the largest number of individuals. We strengthen the characterization result of Yeh (Economic Theory 34: 575{583, 2008) by replacing <em> effciency</em> axiom by the weaker axiom called...</em>

We show that con¯dence regions covering the identified set may be preferable to con¯dence regions covering each of its points in robust control applications.