This paper analyzes household structure of elders in Japan. Traditionally, this topic has been discussed from a perspective of coresidence of parents and children. However, we show that the number of childless elders, who do not have an option to coreside with their children, has rapid been...

This paper studies impacts of imperfect collateralization on derivatives values. Firstly, we present a general framework for the analysis in a multi-dimensional dif fusion setting, and then calclate pre-default values of forwards and options for the numerical experiments. In particular, we...

We propose a methodology for constructing valid confidence regions in incomplete models with latent variables satisfying moment equality restrictions. These include moment equality and inequality models with latent variables. The confidence regions are obtained by inverting tests based on the...

In the spatial model of voting, voters choose the candidate closest to them in the ideological space. Recent work by (Degan and Merlo 2009) shows that it is falsifiable on the basis of individual voting data in multiple elections. We show how to tackle the fact that the model only partially...