Bovenberg and Mooij (1994) and others pointed out that the optimal taxation on goods with external diseconomy both collects revenue and also corrects the external diseconomy by the goods, and thus it is said that the tax has gdouble dividendsh. The purpose of the present paper is to examine...

We investigate the role of firm heterogeneity in considering profitability and desirability of mergers in the international economy. Analysis shows that higher trade costs make only crossborder mergers profitable whereas larger firm heterogeneity is likely to increase both domestic and...

The sample-specificity and path-dependence of the data envelopment analysis (DEA) based technical change index as a component of Malmquist indexes prevent us from obtaining overall and systematic information on technical change. This paper develops a pathindependent method to estimate technical...

This paper explores the role of consumption externalities in an overlapping generations economy with capital accumulation. If consumers in each generation are concerned with other agentsf consumption behaviors, there exist intergenerational as well as intragenerational consumption externalities....

Dependent background risks which have functional forms are introduced into Lucas economies. This paper determines the conditions on preferences to guarantee the monotonicity of asset prices, when dependent background risks satisfy the monotonicity and the single crossing conditions.

This paper investigates why labors wouldnft be reallocated from contracting firms to expanding firms in the 1990s in Japan, focusing on the increase of zombie firms after the burst of the bubble economy. Main evidences are twofold. First, higher proportion of total industry labors by zombies...

Using data from a rural household survey in China, this paper explores the link between employment choice (nonworking, local farm work, local nonfarm work and migratory work) and migrant earnings. We find significant self-selection in migration. Youths, males, better-educated individuals and...

The outranking analysis has been frequently used to deal with the complex decisions involving qualitative criteria and imprecise data. So far, various versions of ELECTRE have been proposed for ranking alternatives in the outranking analysis. Among others, ELECTRE III has been widely used. A...

Since the mid-1960s, the Japanese cotton spinning industry has experienced steady decline. However, the whole process of this decline was the synthesis of several different firm strategies within the industry. If we look at this process, three types of firm strategies can be found; (1) positive...

This paper is an attempt to incorporate the human ability of recognition, especially, the ability to recognize the society to which they belong, with the economic equilibrium theory characterized by a description of society through individual rational behaviors. Contents may be classified into...