We examine quantitatively the extent to which financial distress in the 1990s affected employment behavior in Japan. Based on the firm-level panel data that include small firms, we estimate dynamic labor demand function, taking the impact of financial distress on employment into consideration....

Vorwort 3 I. Einleitung 5 II. Ost-West-Handel 8 a. Entwicklung 8 b. Aussichten für die nähere Zukunft 12 c. Der Handel mit China 14 d. Der sowjetische Ferne Osten 15 e. Komparative Vorteile im Ost-West-Süd-Handel . . 16 f. Gewinne aus dem Handel 17 III. Technologietransfer 20 IV. Die...

This paper examines empirically some of the reasons why Japanese manufacturing firms frequently fail to satisfy concavity conditions of the cost function. We focus on the 'bubble period' in the 1980s when land was in great demand for reasons related to both production and speculation, and land...

An attempt is made to estimate a state space model of investment and borrowing in a Bayesian framework and extract the unobservable agency cost of Japanese firms by firm size. Our estimates of the agency cost exhibited a declining trend in the late 80s and then switched to an increasing trend in...