This paper attempted to measure the causal effect of high school quality on academic achievement by estimating education production function in Japan. The authors combined school quality measures retrieved from official statistics with the large sample of twins collected through the web-based...

This study examines how Japanese consumers’ inflation expectations are formed by the use of micro-level dataset of the prediction error of expected inflation rate. Recently in Japan, the interest is growing in the policies that intend to work on the inflation expectations of consumers and...

For thirty years since Beveridge and Nelson (1981) decomposition, many decomposition of trend and cycle have been developed. Their estimation, however, have little correspondence with each other. This paper applies to Japanese real GDP and unemployment rate between 1955 and 2000 using...

In this paper we present a methodology to deal with trends in DSGE models. This type of models have consequences for long run growth as well as for cyclical dynamics and it would be desirable to deal with both aspects in an unified frame-work. Two different problems need to be addressed. The...

The economic damage caused by the Tokyo Inland Earthquake disaster is estimated at 112 trillion yen by the Central Disaster Management Council of Japan. The estimated figure however is surrounded by so much uncertainty that there surely exists a risk of the actual damage caused by an earthquake...

Multinational corporations (MNCs), both wholly-foreign and joint ventures, and state-owned enterprises (SOEs) often had higher labor productivity and lower capital productivity than local, private firms in Vietnamese manufacturing during 2000-2006. After controlling for firm-level variation in...

The air pollution of SO2 due to coal combustion has been a serious environmental problem in China. The objective of this study is to evaluate desulfurization activities to reduce air pollutions and health damages and to propose an optimal environmental policy in Tianjin. The computer simulation...

In this paper, we analyze the negative impacts of overeducation on wages in the Japanese youth labor market. In addition, this study assesses empirically the validity of the Human Capital Theory and Job Competition Model within the context of overeducation and undereducation. Our study uses the...

The purpose of the paper is to examine what kind of investment theory can explain the recent movements in corporate investment in Japan. To explain the drastic decline in corporate investment in the wake of the bubble economy, economists applied Tobin's Q theory with liquidity constraints or...

We develop a two-country model of international trade that incorporates offshoring opportunities, and we analyze the effects on employment and effective demand of offshoring in the home country under stagnation when there is a liquidity trap. A rise in the tariff on imported outsourced goods...