In this paper, we analyze the corruption in entry regulation that involves an entrepreneur and a track of bureaucrats. Instead of formulating a game in extensive form to analyze the sequential nature of the process involved in the application for a permit, we focus on the corruption in entry...

This paper presents the resiliency of international production networks stretched across the Asian region in face of the Asian financial and currency crisis back in 1997-98, as well as confirming its stability with consideration to adverse effects of the crisis. A series of survival analyses...

This paper is a preliminary survey of the money market in Calcutta during the early nineteenth century, focusing particularly on the role of salt bills. Salt bills, known as chars and rowanas, were issued by the government, from which the holder was able to claim the quantity of salt specified...

The effect of unemployment risk on the timing of homeownership is examined through the use of a retrospective panel of Japanese households. We obtain the following results by applying the split population duration (SPD) model: (1) unemployment risk, as proxied by the probability of unemployment,...

This paper tests whether wages in Japanese Labor market are determined by current labor market condition or by past labor market conditions. following Beaudry and DiNardo (1991) which analyze U.S males. In contrast to previous findings for Canada and the U.S., implicit contract models with...

We investigate the global dynamics of financial integration by constructing a two-country model of overlapping generations in the presence of financial market frictions. The inversed U-shaped relation between the interest rate and the capital stock brought about by imperfect enforcement becomes...

Focusing on firms from the electrical machinery and electronics industry, this paper investigates the impact of foreign direct investment (FDI) on home productivity using activity-level data rather than, as most previous studies have done, firm-level data. Distinguishing between horizontal and...

This paper draws on five waves of Japan household longitudinal data (Keio Household Panel Survey, KHPS) and estimates a conditional fixed effects logit model to investigate the effect of Japanese government policy on owner-to-owner residential moves. We examine whether housing equity constraints...

This paper analyzes the amakudari practice in Japan. Amakudari refers to situations where government agencies contact the private firms that they regulate, asking them to provide employment for their retiring elite bureaucrats. Upon employment at the private firms, bureaucrats may collude with...

This study provides sufficient conditions for non-emptiness of the core of a market for indivisible commodities with middlemen. This market is formulated as a three-sided assignment game without sidepayments. Our conditions are characterized by special properties of three-sided assignment games...