This paper develops a new scheme for improving an approximation method of a probability density function, which is inspired by the idea in<em> the Hilbert space projection theorem</em>. Moreover, we apply “Dykstra's cyclic projections algorithm†for its implementation....

This is the second article of my series, “Improving Economic Statistics in order to Improve Economic Policy and Research.†It fleshes out some of the issues presented in the first article, Miwa [2014]. Focusing on SNA (GDP) estimates, this study investigates the availability and...

In the late 1940s, the Japanese economy transited to a market economy from an economy under the government planning and control, which had continued since the period of the Sino-Japanese War. This paper explored the impact of the transition on the micro-aspect of the economy, focusing on the...

Mitsubishi Corporation (Mitsubishi Shoji), a trading company under Mitsubishi Zaibatsu, increased its sales rapidly in the 1920s and 1930s, and threatened to catch up with Mitsui & Co. (Mitsui Bussan), the largest trading company in prewar Japan. In this paper, we constructed the data that...

In the late 1940s, the Japanese economy transited to a market economy from an economy under the government planning and control, which had continued since the period of the Sino-Japanese War. This paper explored the impact of the transition on the micro-aspect of the economy, focusing on the...

How do local governments react to the accumulation of debt? Whereas public debt/GDP ratio has reached the worst levels in Japan, this paper provides evidence of corrective action: the marginal response of primary surpluses to changes in debt is increasing in the debt-GDP ratio. This paper also...

　　 This paper examines the effectiveness of consumer subsidies to encourage the installment of solar panels in Japan. Such subsidies can be justified on the ground that the prices to consumers of the conventional energy alternative do not reflect their full social costs. The paper...

　　 A multivariate stochastic volatility model with dynamic equicorrelation and cross leverage effect is proposed and estimated. Using a Bayesian approach, an ecient Markov chain Monte Carlo algorithm is described where we use the multi-move sampler, which generates multiple latent...

A multivariate stochastic volatility model with dynamic equicorrelation and cross leverage effect is proposed and estimated. Using a Bayesian approach, an ecient Markov chain Monte Carlo algorithm is described where we use the multi-move sampler, which generates multiple latent variables...

　　 We formulate strategic aspects of speculative arbitrageurs in a stock market as a generalization of timing game with behavioral types explored by Matsushima (2013b). A company raises huge funds during the bubble driven by positive feedback traders' euphoria by issuing shares in...