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Hitotsubashi Journal of Economics最新文献

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IMPACTS OF THE ECONOMIC COOPERATION FRAMEWORK AGREEMENT ON BANKING COST EFFICIENCY IN CHINA AND TAIWAN: A STOCHASTIC METAFRONTIER APPROACH 两岸经济合作框架协议对银行成本效率的影响：一种随机元边界方法
IF 0.6 4区 经济学
Hitotsubashi Journal of Economics Pub Date : 2017-12-01 DOI: 10.15057/28951
Yung-Lieh Yang, Tsui‐Yueh Cho, Ming-Hsiang Huang
{"title":"IMPACTS OF THE ECONOMIC COOPERATION FRAMEWORK AGREEMENT ON BANKING COST EFFICIENCY IN CHINA AND TAIWAN: A STOCHASTIC METAFRONTIER APPROACH","authors":"Yung-Lieh Yang, Tsui‐Yueh Cho, Ming-Hsiang Huang","doi":"10.15057/28951","DOIUrl":"https://doi.org/10.15057/28951","url":null,"abstract":"This study extends the stochastic metafrontier model (SMF) of Huang, Huang and Liu (2014) to compare the meta-cost banking efficiency in China and Taiwan from 2007 to 2013, and to analyze the impacts on cost efficiency following the implementation of the Economic Cooperation Framework Agreement (ECFA).The empirical tests show that the banking sectors in both China and Taiwan implemented distinct technology-related policies during this period. Following the implementation of ECFA, the meta-cost efficiency for Taiwanʼs banking sectors showed a distinct improvement. Besides, the Chinese banks which had established branches in Taiwan experienced a significant enhancement in meta-cost efficiency. Several managerial insights and implications are discussed.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"58 1","pages":"121-141"},"PeriodicalIF":0.6,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42544868","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
THE ORIGINS OF THE EAST ASIAN INCONGRUITIES IN THE MADDISON PROJECT DATABASE 麦迪森计画资料库中东亚不协调的起源
IF 0.6 4区 经济学
Hitotsubashi Journal of Economics Pub Date : 2017-12-01 DOI: 10.15057/28955
N. Kim, Ki-Joo Park
{"title":"THE ORIGINS OF THE EAST ASIAN INCONGRUITIES IN THE MADDISON PROJECT DATABASE","authors":"N. Kim, Ki-Joo Park","doi":"10.15057/28955","DOIUrl":"https://doi.org/10.15057/28955","url":null,"abstract":"The income gaps between Korea and her two richer neighbors, Japan and Taiwan in 1935, estimated by the Maddison Project using the backward projection method from 1990, are significantly different from the results based on directly comparing the price levels of 1935. We explore the sources of error in the estimation of PPP using GDP deflators. We find that the errors from the conceptual differences between PPP and GDP deflators are not large or systematically biased; the majority of errors come from the inconsistency of the two data sets, and the selection of the benchmark year. We estimate the GDP per capita of East Asian countries without incongruities, using information from all benchmark years available.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"58 1","pages":"179-197"},"PeriodicalIF":0.6,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43062758","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Partial Privatization and Subsidization in a Mixed Duopoly: R&D versus Output Subsidies 混合双头垄断中的部分私有化与补贴:研发与产出补贴
IF 0.6 4区 经济学
Hitotsubashi Journal of Economics Pub Date : 2017-06-19 DOI: 10.15057/28952
Sang‐Ho Lee, Timur K. Muminov, Yoshihiro Tomaru
{"title":"Partial Privatization and Subsidization in a Mixed Duopoly: R&D versus Output Subsidies","authors":"Sang‐Ho Lee, Timur K. Muminov, Yoshihiro Tomaru","doi":"10.15057/28952","DOIUrl":"https://doi.org/10.15057/28952","url":null,"abstract":"This study investigates R&D and output subsidies in a mixed duopoly with partial privatization. We show that an output subsidy is welfare-superior to an R&D subsidy policy, but the government has a higher incentive to privatize the public firm under the output subsidy than the R&D subsidy. However, when the government uses the policy mix of R&D and output subsidies together, it can achieve the first-best allocation, in which the degree of privatization does not influence output subsidies but influences R&D subsidies.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"58 1","pages":"163-177"},"PeriodicalIF":0.6,"publicationDate":"2017-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48772580","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 27
NON-EQUIVALENCE OF SPECIFIC AND AD VALOREM TAXATION IN THE COMPETITIVE MARKET WITH TAX EVASION 从价税与从价税在竞争市场中的不等价与偷税漏税
IF 0.6 4区 经济学
Hitotsubashi Journal of Economics Pub Date : 2017-06-01 DOI: 10.15057/28613
Che-chiang Huang, K. L. G. Ueng, Jin-Li Hu
{"title":"NON-EQUIVALENCE OF SPECIFIC AND AD VALOREM TAXATION IN THE COMPETITIVE MARKET WITH TAX EVASION","authors":"Che-chiang Huang, K. L. G. Ueng, Jin-Li Hu","doi":"10.15057/28613","DOIUrl":"https://doi.org/10.15057/28613","url":null,"abstract":"The well-known equivalence between specific and ad valorem taxation in competitive markets may not hold in the presence of tax evasion. Evading specific taxes has to take place via concealing quantities sold, whereas evading ad valorem taxes can take place via concealing selling prices as well as quantities sold. We show that in the competitive market (i) this difference could make the equivalence of these two taxes break down, and (ii) specific taxation may be superior to ad valorem taxation if it causes firms to channel fewer resources into tax evasion, given other things being equal.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"58 1","pages":"41-51"},"PeriodicalIF":0.6,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44112424","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Robust good-deal bounds in incomplete markets: The case of Taiwan 不完全市场中稳健的良性边界——以台湾为例
IF 0.6 4区 经济学
Hitotsubashi Journal of Economics Pub Date : 2017-06-01 DOI: 10.15057/28615
Jun-Home Chen, Yu-Lieh Huang, Jow-Ran Chang
{"title":"Robust good-deal bounds in incomplete markets: The case of Taiwan","authors":"Jun-Home Chen, Yu-Lieh Huang, Jow-Ran Chang","doi":"10.15057/28615","DOIUrl":"https://doi.org/10.15057/28615","url":null,"abstract":"We extend Cochrane and Saa-Requejoʼs (2000) analysis to derive good-deal bounds on asset prices when investors are concerned about model uncertainty and seek robust pricing decisions in incomplete markets. We investigate properties of the proposed pricing bounds and apply these bounds to value a European option whose underlying asset is a non-traded stock index. We find that, under certain circumstances of model uncertainty, the proposed pricing bounds can include sufficient amounts of the actual option prices, which is in contrast with the empirical finding of the good-deal bounds proposed by Cochrane and Saa-Requejo (2000).","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"58 1","pages":"53-67"},"PeriodicalIF":0.6,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45605618","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
THE EFFECT OF SCHOOL CHOICE ON STUDENTʼS ACADEMIC PERFORMANCE 择校对学生学习成绩的影响
IF 0.6 4区 经济学
Hitotsubashi Journal of Economics Pub Date : 2017-06-01 DOI: 10.15057/28617
Jaesung Choi, Jisoo Hwang
{"title":"THE EFFECT OF SCHOOL CHOICE ON STUDENTʼS ACADEMIC PERFORMANCE","authors":"Jaesung Choi, Jisoo Hwang","doi":"10.15057/28617","DOIUrl":"https://doi.org/10.15057/28617","url":null,"abstract":"We test the effect of school choice on studentsʼ academic performance by exploiting the change in high school assignment program in Seoul, Korea from within-district randomization to open enrollment. Employing difference-in-differences methodology on administrative data of high school studentsʼ National Assessment of Educational Achievement test scores, we find no evidence that enhanced school choice improved average test scores in Seoul. However, we find differential effects across school types ‒ regular high schoolsʼ test scores fell whereas newly converted selective private high schoolsʼ test scores rose substantially. Increased sorting across schools is shown to have adverse effects particularly on low-ability students.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"58 1","pages":"1-19"},"PeriodicalIF":0.6,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46002352","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
THE EFFECT OF PATIENT COST SHARING ON HEALTH CARE UTILIZATION AMONG LOW-INCOME CHILDREN 患者费用分担对低收入儿童医疗保健利用的影响
IF 0.6 4区 经济学
Hitotsubashi Journal of Economics Pub Date : 2017-06-01 DOI: 10.15057/28614
R. Takaku
{"title":"THE EFFECT OF PATIENT COST SHARING ON HEALTH CARE UTILIZATION AMONG LOW-INCOME CHILDREN","authors":"R. Takaku","doi":"10.15057/28614","DOIUrl":"https://doi.org/10.15057/28614","url":null,"abstract":"This paper examines how health care utilization among low-income children is affected by a reduction of the coinsurance rate, exploiting an institutional change in the Medical Subsidy for Children and Infants (MSCI) system, as a natural experiment. In 2004, the maximum age for MSCI recipients in Hokkaido Prefecture was raised from 3 years to include all children of preschool age. The implied arc price elasticity of outpatient care utilization is −0.23, which is congruent with the commonly cited value (−0.2) presented in the RAND health insurance experiment.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"58 1","pages":"69-88"},"PeriodicalIF":0.6,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42547948","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
STATE DEPENDENCE, UNOBSERVED HETEROGENEITY, AND HEALTH DYNAMICS IN KOREA 韩国的国家依赖性、未观察到的异质性和健康动态
IF 0.6 4区 经济学
Hitotsubashi Journal of Economics Pub Date : 2016-12-01 DOI: 10.15057/28217
Yong-Woo Lee
{"title":"STATE DEPENDENCE, UNOBSERVED HETEROGENEITY, AND HEALTH DYNAMICS IN KOREA","authors":"Yong-Woo Lee","doi":"10.15057/28217","DOIUrl":"https://doi.org/10.15057/28217","url":null,"abstract":"This paperinvestigates the determinants of individual health and its dynamics using the Korea Laborand Income Panel Study. The paperexamines how state dependence, unobserved heterogeneity, and observed heterogeneity jointly affect overall health evolution. For this, a dynamic random effects ordered probit model with a simple solution to the initial conditions problem is estimated and the estimation results show that health dynamics in Korea are characterized by significant positive state dependence and unobserved heterogeneity. The explanatory power of many socioeconomic variables disappears if state dependence and unobserved heterogeneity are controlled for. Two robustness checks with respect to attrition bias and reporting reliability further validate these empirical results.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"57 1","pages":"195-221"},"PeriodicalIF":0.6,"publicationDate":"2016-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66731457","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
IS THERE A COMPLEMENTARY RELATIONSHIP BETWEEN PRODUCT AND PROCESS INNOVATION ON PRODUCTIVITY IN TAIWANESE MANUFACTURING FIRMS 台湾制造企业的产品创新与制程创新对生产力是否有互补关系
IF 0.6 4区 经济学
Hitotsubashi Journal of Economics Pub Date : 2016-12-01 DOI: 10.15057/28221
Chia-Ling Lin, Hui-Lin Lin, Eric S. Lin
{"title":"IS THERE A COMPLEMENTARY RELATIONSHIP BETWEEN PRODUCT AND PROCESS INNOVATION ON PRODUCTIVITY IN TAIWANESE MANUFACTURING FIRMS","authors":"Chia-Ling Lin, Hui-Lin Lin, Eric S. Lin","doi":"10.15057/28221","DOIUrl":"https://doi.org/10.15057/28221","url":null,"abstract":"As a newly-industrialized country, Taiwan has gone through a vast industrial transformation. To reflect the impacts of innovation on firms' performance, we adopt a modified CDM (Crepon et al., 1998) model and focus on the innovation activities of Taiwanese manufacturing firms, especially on the comparison between OEM and non-OEM. Two data sources are uniquely compiled; one is the TTIS-II, and the other is the ICSC. Our findings suggest that considering the whole sample, only process innovation will improve both TFP growth and labor productivity growth. However, there exists a complementary relationship between product and process innovation on productivity among OEM.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"57 1","pages":"139-173"},"PeriodicalIF":0.6,"publicationDate":"2016-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66731562","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
INDUSTRIAL ENTERPRISES' INNOVATION EFFICIENCY AND THE INFLUENCE OF CAPITAL SOURCE: BASED ON STATISTICAL DATA OF INDUSTRIAL ENTERPRISES IN JIANGSU PROVINCE 工业企业创新效率与资金来源的影响——基于江苏省工业企业统计数据
IF 0.6 4区 经济学
Hitotsubashi Journal of Economics Pub Date : 2016-12-01 DOI: 10.15057/28220
Zheng-ying Luo, Yung‐ho Chiu, Lingling Tang, Yayun Xu, Ching-Cheng Lu
{"title":"INDUSTRIAL ENTERPRISES' INNOVATION EFFICIENCY AND THE INFLUENCE OF CAPITAL SOURCE: BASED ON STATISTICAL DATA OF INDUSTRIAL ENTERPRISES IN JIANGSU PROVINCE","authors":"Zheng-ying Luo, Yung‐ho Chiu, Lingling Tang, Yayun Xu, Ching-Cheng Lu","doi":"10.15057/28220","DOIUrl":"https://doi.org/10.15057/28220","url":null,"abstract":"This study chooses industrial enterprises with great innovative capacity and above a designated size in Jiangsu as the research object to examine the real mechanism of their innovative activities. We apply the DEA model to calculate the technical efficiency, technical progress, and total factor productivity (TFP) of industrial enterprises from 1999 to 2009, finding that technical progress is the most significant factor in increasing TFP. In order to ensure the efficient flow of capital and labor, the empirical results of this study provide useful evidence to promote the industry frontier technical progress and to improve the average efficiency level.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"57 1","pages":"175-193"},"PeriodicalIF":0.6,"publicationDate":"2016-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66731525","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
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