We analyze the mechanism of return and volatility spillover effects from the Chinese to the Japanese stock market. We construct a stock price index comprised of those companies that have substantial operations in China. This China-related index responds to changes in the Shanghai Composite Index...

In this paper, we present a dynamic general equilibrium model to investigate how different contracting modes based on formal and relational enforcements endogenously emerge and are dynamically linked with the process of economic development. Formal contracts are enforced by third-party...

The purpose of this research note is to study the mariner occupation in Bristol by analyzing probate inventories from the seventeenth and eighteenth centuries. A large percentage of people were engaged in the occupation of a mariner, and this was a primary occupation for many in Bristol. In this...

The advance of web technology has allowed increasingly number of people to have access to Social Network Sites. Different members of society, including people of all ages and social classes, have used Facebook, Twitter and LinkedIn. This study examines the relationship between the use of Social...

We conducted a questionnaire survey in the Kanto area regarding peoplefs dissatisfaction with various aspects of their dwelling environment. Dissatisfaction with access to transportation, shopping and medical facilities are important reasons for moving house. Probit model estimation implies that...

We develop a dynamic model in which a firm exercises an option to expand production on either a small or large scale with cash reserves and costly external funds. We show that the financing costs greatly distort the firmfs financing and investment behavior and result in a policy contingent on...

This study constructs a variety expansion growth model with public research spending, in which public researchers raise the productivity of private R&D. We show that the rela- tionship between public research spending and the growth rate follows an inverted U-shape. This is because public...

The effectiveness of nontraditional monetary policy is controversial at least in Japan. Making use of data from the quantitative easing monetary policy period, this paper presents statistical evidence on the effectiveness of nontraditional monetary policy. We empirically demonstrate that...

This note explores the signaling effect of foreign exchange market intervention in countries, such as Japan, the United Kingdom and the United States, where separate agencies are responsible for intervention and monetary policy. An important part of the signaling effect operates when an entity...

Decrease in the future number of students due to the low birth rate could affect public educational expenditures in Japan? Is there any regional difference? This paper simulates the future amount of local public primary, junior high, and high school expenditures in each Japanese prefecture. More...