Currency invoicing in Japanese exports has two puzzling patterns concerning an excessively small share of yen invoicing: one is a strong tendency of Japanese firms to choose the importer's currency invoicing in exports to developed countries, and the other is the prevalence of U.S. dollar...

This paper analyzes how much deviation we have among Asian currencies, which include the Indian rupee, the Australian dollar, and the New Zealand dollar, given that we are discussing the East Asian Community based on ASEAN+3 (Japan, China, and South Korea)+3 (India, Australia, and New Zealand)....

Offshoring requires firms to have strong corporate headquarters for monitoring and contracting with suppliers. This paper exploits the unique Japanese firm-level data, which categorizes the type of offshore supplier as: own FDI subsidiaries, subsidiaries owned by other Japanese firms, and...

Plants in clusters are often more productive than those located in non-clusters. This has been explained by agglomeration effects that improve productivity of all plants in a region. However, recent theoretical development of trade and spatial economic theories with heterogeneous firms has shed...

This paper examines the extent of localization in Japan's manufacturing sector using a unique firm-level dataset on the geographic location of firms. Following the point-pattern approach proposed by Duranton and Overman (2005), we find the following. First, approximately half of Japan's...

We investigate the productivity dispersion, i.e., allocation of workers among different levels of productivity and output, by employing the largest database for small and medium-sized companies, Credit Risk Database (CRD). Focusing on the manufacturing sector and small and medium levels of...

This paper empirically quantifies what effect the data availability on part-timers' firm-level working hours may have on the accuracy of productivity measurement by using a data set on a large number of Japanese firms. Despite the practical importance of part-time workers in productivity...

his paper considers the properties of an optimal monetary policy when households are subject to counter-cyclical uninsured income shocks. We develop a tractable incomplete-markets model with Calvo price setting. In our model the welfare cost of business cycles is large when the variance of...

This paper is in the spirit of Marshall (1920), who raised the question of how economic distance affects a firm's productivity, focusing upon the role of idea sharing in relation to technological knowledge or information between firms. In order to quantify the degree of knowledge spillover or...

This paper reviews the impact of Korea's FTAs on trade and business, reporting substantial trade growth with FTA partner countries with some exceptions. It also analyzes FTA use by firms, and tries to present the effects of the FTAs on the Korean business firms. According to the paper, Korea's...