The destructive impact of the Great East Japan Earthquake and subsequent tsunami on March 11, 2011 has enhanced consumer's earthquake preparedness even in unaffected areas. This paper uses unique survey data collected after the earthquake to study how consumers reacted to this catastrophic...

Purposes of this paper are to establish the model for explaining Japanese young's housing demand and to derive the implication to guide Japanese housing policy. For this, I investigate the determinants of their tenure choice, considering their housing independence from their parents. On the...

This paper provides evidence on whether mandating wider subject variety on high school entrance exams affects long-term educational achievement using Japanese historical experiences. In Japan, where high school education is non-compulsory, prefectural boards of education have retained the...

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,...

A model of the term structure of lease rates in a frictionless economy is developed and its predictions are compared with data on residential leases in Japan. The model shows that the initial lease rate for a cancellable lease must be set higher than that for a non-cancellable lease because the...

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...