The current study focuses on efficiency improvement for banking systems from multiple perspectives, which have different definitions of input/output about various attributes of a banking system. In this research we utilize data envelopment analysis (DEA) and Nash bargaining game (NBG) theory to...

For a complicated banking system with various financial attributes, there are usually different classifications of inputs and outputs from the perspectives of different stakeholders. In order to obtain the highest efficiency score, different perspectives tend to select different weight...

The vehicle routing problem with stochastic demand (VRPSD) is one of the most important problems in distribution and transportation. The classical models for the vehicle routing problem with stochastic demand are the chance-constrained model and the penalty model. This paper proposes the hybrid...

The most prominent characteristic of the Japanese yen/U.S. dollar nominal exchange rate in the post-Plaza Accord era is its near random-walk behavior sharing a common stochastic trend with the monetary base differential, which is augmented by the excess reserves, between Japan and the United...

This study empirically investigates whether macroeconomic effects of fiscal policy are affected by the existence of rule-of-thumb households in Japan. Motivated by existing theoretical formulations, we estimate a consumption function as extended to a Markov switching model and divide the sample...

Announcing a large fiscal stimulus may signal the government’s pessimism about the severity of a recession to the private sector, impairing the stabilizing effects of the policy. Using a theoretical model, we show that these signaling effects occur when the stimulus exceeds expectations and...