This paper develops a new computationally attractive procedure for estimating dynamic discrete choice models that is applicable to a wide range of dynamic programming models. The proposed procedure can accommodate unobserved state variables that (i) are neither additively separable nor follow...

We deduce discrete compactness of Rellich type for some discontinuous Galerkin finite element methods (DGFEM) including hybrid ones, under fairly general settings on the triangulations and the finite element spaces. We make use of regularity of the solutions to an auxiliary second-order elliptic...

This paper presents a Downsian model of political competition in which parties have incomplete but richer information than voters on policy effects. Each party can observe a private signal of the policy effects, while voters cannot. In this setting, voters infer the policy effects from the party...

In 2004, Japan abolished part of its spousal exemption regulations. This paper examines, on theoretical and empirical levels, the effects of this tax reform on the income of married women, allowing for heterogeneous effects across income distribution. The empirical results from quantile...

It is widely known that structural break tests based on the long-run variance estimator, which is estimated under the alternative, suffer from serious size distortion when the errors are serially correlated. In this paper, we propose bias-corrected tests for a shift in mean by correcting the...

The cost of nuclear power generation critically depends on the damages caused by plant failure. We estimate the residential land damage caused by the failure of the Fukushima Daiichi nuclear power plant, as it forms a substantial part of the total damage, by observing the change in transaction...

This paper considers the conditional sum of squares estimator (CSSE) for the moderate deviation MA(1) process that has the parameter of the MA(1) with the distance between the parameter and unity being larger than O(T -1). We show that the asymptotic distribution of the CSSE is normal, even...

By using the empirical likelihood (EL), we consider the construction of pointwise confidence intervals (CIs) for nonparametric nonlinear nonstationary regression models with nonlinear nonstationary heterogeneous errors. It is well known that the EL-based CI has attractive properties such as data...

Game theory presents a useful analytical tool for addressing the problem of international cooperation and the formation of institutions. We first examine four problems that must be solved to achieve international cooperation: the common knowledge problem, agreement problem, compliance problem,...

The Japanese Consumer Price Index (CPI) is considered to be upwardly biased. This paper estimated the Engel curve based on National Survey of Family Income and Expenditure data to measure the bias. The estimated bias for the period 1989 to 2004 was 0.53 percentage points per annum. Correcting...