In this paper, we construct an interregional trade model that has en- dogenous fertility rates in the manner of Helpman and Krugman (1985). The presented model shows that fertility rates in a large region become lower than those in a small region because of the agglomeration of man- ufacturing...

Monopsony is often observed in local agricultural markets in developing countries because of the high entry cost to buyers; farmers in such markets therefore sell their agricultural products at a lower price. However, this situation seems to be changing with the diffusion of mobile phones. This...

We extend the theory of job crafting by proposing that job characteristics, individual differences, and group-level contexts interactively promote employee job crafting. Specifically, drawing on the theories of job characteristics, regulatory focus, and social exchange, we develop a multilevel...

This paper develops an overlapping-generation model featuring four types of households: single female, single male, one-breadwinner couple and two-breadwinner couple. The paper considers majority voting over public pension in the presence of derived pension rights for one-breadwinner couples. In...

Using a disequilibrium model, we investigate the relationship between the supply constraint of electricity generation capacity and electricity demand in Taiwan. We find that electricity consumption faced supply constraints in Taiwan between 1959 and 1972, but that after 1973 generation capacity...

In the real world, two types of education investment may exist. One of these contributes to labor skills, and the other does not, corresponding to human capital and signal invest- ment, respectively. The question is how individuals determine the ratio of these alternative investments. In...

It has been noted that there is an inconsistency between the Moldovan monetary authoritiesf declared pursuit of price stability and the de facto exchange rate peg. This paper looks into the exchange rate regime of the Moldovan leu (MDL) aiming to identify the de facto regime, to test whether it...

This paper develops an overlapping-generation model featuring four types of households: single female, single male, one-breadwinner couple and two-breadwinner couple. The paper considers majority voting over public pension in the presence of derived pension rights for one-breadwinner couples. In...

This paper shows that in a borrowing-constrained economy, a median level of inequality stimulates investment, whereas low and high levels of inequality dampen investment. This nonlinearity is a result of two effects. There are more rich individuals in an equal economy than in an unequal economy....

Many studies have observed the leading indicator property of the term spread (LIPTS), which indicates that the term spread\the difference between long- and short-term interest rates\ has the information on future economic conditions. We examine whether this property is related to the monetary...