This article distills the economic and current significance contained in the political economy of J.R. Commons. It compares descriptions of his three main works that discuss “sovereignty”: A Sociological View of Sovereignty (SVS), Legal Foundations of Capitalism (LFC), and Institutional...

We analyze how the implementation of an emission tax influences aggregate pollution through the diffusion of a new, less polluting technology. Our focus is on how the consumption behavior of green consumers changes the relationship between policy stringency and the equilibrium state of...

Declines in labor wage rate accompanied with increases in dividend or stocks are worldwide tendencies since 1980s that designates significant change in functional income distribution between capital and labor. Whereas some empirical studies in macro-level analyzes these changes are caused by...

Constructing an intra-industry trade model with division of labor within firms, this paper shows that opening up to trade improves firm productivity. Firms choose the number of markets they export. Optimal entry conditions for export markets rule out loss from opening up to trade. Under fixed...

his paper attempts to perform an empirical analysis of the effects of “labor clauses” provided in bilateral or plurilateral trade agreements (or regional trade agreements: RTAs) on working conditions that laborers in the RTA signatory countries actually face, using macro-level data for a...

We use a field experiment to examine how consumers respond to distinct combinations of default options (opt-in versus opt-out) and framing of economic incentives (gain versus loss). A randomized controlled trial (RCT) is implemented to investigate the demand reduction performance of three...

In this study, we build a Kaleckian model incorporating institutional differences between the wage determination of regular employment and that of non-regular employment. Using this model, we investigate how an employment shift toward regular workers affects the capacity utilization rate and...

This article traces the pattern of conflict, collaboration, and compromise among trade unions, employers, political parties, executive branches, and economic research institutes in Germany, all of which have different stances regarding the introduction of a general statutory minimum wage there....

We examine the optimal rules of origin (ROO) in a free trade area/agreement (FTA). We incorporate compliance costs of the ROO into the model. In particular, compliance costs are higher for a firm located in a non-member country of the FTA than for a firm located in an FTA member country,...

This study builds a two-country Kaleckian model and investigates the effect of one country’s economic policy on both countries. In contrast to preceding studies, we consider monetary aspects as well as real aspects. Our results show that the effects on output of an increase in the nominal wage...