In this article, we consider a many-to-one two-sided matching market and define a canonical strategic form game, in which any worker applies to the top k firms and is assigned to the most preferred firm that does not reject him/her. Under the substitute property of firms' preferences, the game...

Although it controls monetary policies, a central bank can occasionally experience a situation where its financial situation worsens and excessive liabilities occur. In such instances, the central bank may be unable to fulfill its policy objectives. This study focuses on the People's Bank of...

This paper studies the mechanism of volunteer labor supply using panel data gathered during the period before and after the Great East Japan Earthquake and Tsunami, which occurred on March 11, 2011. The results obtained from descriptive statistics and random probit model estimates show that the...

In this paper, we have attempted to identify the factors behind the tendency in Japan to marry late. We applied search theory to the process of women's mate search in marriage markets and used having a full-time job as the indicator of being marriageable. We therefore used the number of male...

How do financial development and financial integration interact? We focus on Japan's Great Recession after 1990 to study this question. Regional differences in banking integration affected how the recession spread across the country: financing frictions for credit-dependent firms were more...

We use structural method, that is, Dynamic Stochastic General Equilibrium (DSGE) model with fiscal stabilization rules, for calculating the tax revenue elasticity rate and estimate more plausible value of it. In the short-run, the tax revenue elasticity to output takes negative value and, in...

In this note, we demonstrate, in a simpler and more direct manner than done in existing literature, the existence of an equilibrium in a market whose excess demand function has the gross substitute property.

This study introduces a new definition of a metric that corresponds with the topology of uniform convergence on any compact set, and shows both the existence of a unique fixed point of some operator by using this metric and that the iteration of such an operator results in convergence to this...

Does arbitrage trading based on a cointegrating relation work? The efficient market hypothesis insists that there exists no successful trading. In order to avoid problems with data snooping, we choose 5 industrial average indices and a market index to make a cointegration analysis between 6...

This study developed a self-gifting intention model which describes that consumer intention to purchase self-gift in an achievement context is influenced by four factors, i.e., the amount of effort, happiness of success/sadness of failure, the necessary of recovery, and reward/therapeutic mood....