Strategy of international business of Japanese manufacturing companies has drastically changed for the last half century. Export long occupied central position in the international business strategy. In 1985 the Plaza Accord was reached and sharp appreciation of Japanese yen started. And...

This article interprets time series facts regarding the sources of business fluctuations in Japan and attempts to uncover possible characteristics of the effects of monetary policy over the last two decades. It argues that given the institutional features of the Bank of Japan's operating...

Although previous studies of the effect of imports on Japanese employment relied on relatively aggregate data, the variability among industries is substantial within each two-digit sector. This paper exploits recently available longitudinal data of 390 manufacturing industries and controls for...

This paper connects a traditional topic in trade theory with a new topic in economic dynamics in a simple two(-country) by two(-good) dynamic general equilibrium (dge) model by showing that the transfer paradox, or the donor-enrichment and recipient-impoverishment transfer, is possible if and...

We use trade size to distinguish between individuals and institutions and then examine their trading behaviors around earnings announcements using data from the Tokyo Stock Exchange. Japanese listed firms have a distinctive financial reporting system in that they report actual earnings for prior...

Leadership succession has been an important topic for research and management practice because of its effect on firm performance. This study integrates leadership succession and expatriate staffing literatures by investigating performance outcomes of leadership succession at foreign subsidiaries...

This paper reexamines optimal debt stabilization policy in a small open economy borrowing from abroad. We incorporate spending reversals as a policy option available to policy-makers for stabilizing public debt. Results show that spending reversals can be welfare-improving and that there exists...

We analyze an infinitely repeated tariff-setting game played by two large countries with alternating moves. We focus on the subgame perfect equilibria in which each country chooses its tariff according to a stationary function of the other country's tariff. We show that there are many equilibria...

This study examines if household access to microfinance reduces poverty in Pakistan, and if so, to what extent and across which dimensions of well-being by taking account of the multi-dimensional aspect of poverty. The study draws on first-hand observations and empirical data gathered through...

This paper looks at Japan's experience in transforming its financial system. While the country is considered a model of successful Asian economic development, it has encountered many difficulties as introducing market economy. During the 1960s and 1970s, Japan experienced high economic growth,...