This study investigates the localization of establishment-level knowledge creation by using data from the Japanese patent database. Using distance-based methods, we obtained the following results. First, Japanese patent-creating establishments are significantly localized at the 5% level, with...

A firm's choice of location is very important because it reveals the firm's dynamics. Using a unique firm-level data set, we examine whether and how the presence of incumbent transaction partners (i.e., suppliers, customers, and lender banks) affects this choice. To this end, we focus on those...

In this paper, we investigate whether natural selection works for firm exit after a massive natural disaster. By using a unique data set of more than 84,000 firms after the Tohoku Earthquake, we examined the impact of firm efficiency on firm bankruptcy both inside and outside of the...

Inward foreign direct investment (FDI) in Japan is expected to contribute to the Japanese economy, but an empirical analysis on its causes and consequences has not been widely conducted partly because of a lack of comprehensive panel data on foreign firms. This paper seeks to construct a panel...

In this paper, we analyze how the volume of rice imports would be affected if the Japanese government were to reduce tariffs on rice by looking at the current state of the Simultaneous Buy-and-Sell (SBS) system for rice imports. The Japanese government is required to import 770,000 tons of rice...

This paper examines if and how past experience affects people's perception towards disasters. In particular, we study if past experience enables people to form a probabilistic belief as opposed to ambiguity or unawareness, i.e., Knightian uncertainty. To answer the question, we use a unique...

This paper surveys the recent literature that empirically examines foreign direct investment (FDI) in Japan. This paper focuses on the quantitative evidence on the following questions: 1) Did FDI in Japan accelerate economic growth? 2) What are limiting factors for FDI in Japan? 3) Are there any...

This paper reviews the impacts of natural disasters on firm location choice and real estate prices. More specifically, we first study if awareness of possible natural disasters affects location choice. Then, we investigate the impacts of natural disasters on land prices. We collect a unique...

In 2011, Switzerland announced a floor for the Swiss franc, and it immediately depreciated by 10 percent. Many argue that depreciations should not matter for Switzerland's export basket because luxury brands and high value added products predominate, and these should compete on quality rather...

This paper, using Japanese firm-level data, presents findings about innovative activities in the service sector and the role of patents and trade secrets on innovation. According to the analysis, first, service firms have fewer product innovations than do manufacturing firms, but the...