发布求助
文献互助 智能选刊 最新文献

Japanese Economic Review最新文献

筛选
英文 中文
Likelihood Inference on Semiparametric Models: Average Derivative and Treatment Effect† 半参数模型的似然推断:平均导数与处理效果
IF 1.2 4区 经济学
Japanese Economic Review Pub Date : 2017-12-01 DOI: 10.1111/jere.12167
Yukitoshi Matsushita, Taisuke Otsu
{"title":"Likelihood Inference on Semiparametric Models: Average Derivative and Treatment Effect†","authors":"Yukitoshi Matsushita,&nbsp;Taisuke Otsu","doi":"10.1111/jere.12167","DOIUrl":"10.1111/jere.12167","url":null,"abstract":"<p>Over the past few decades, much progress has been made in semiparametric modelling and estimation methods for econometric analysis. This paper is concerned with inference (i.e. confidence intervals and hypothesis testing) in semiparametric models. In contrast to the conventional approach based on <i>t</i>-ratios, we advocate likelihood-based inference. In particular, we study two widely applied semiparametric problems, weighted average derivatives and treatment effects, and propose semiparametric empirical likelihood and jackknife empirical likelihood methods. We derive the limiting behaviour of these empirical likelihood statistics and investigate their finite sample performance through Monte Carlo simulation. Furthermore, we extend the (delete-1) jackknife empirical likelihood toward the delete-<i>d</i> version with growing <i>d</i> and establish general asymptotic theory. This extension is crucial to deal with non-smooth objects, such as quantiles and quantile average derivatives or treatment effects, due to the well-known inconsistency phenomena of the jackknife under non-smoothness.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12167","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134618367","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
Middle Men: The Visible Market-Makers 中间商:看得见的做市商
IF 1.2 4区 经济学
Japanese Economic Review Pub Date : 2017-12-01 DOI: 10.1111/jere.12168
Makoto Watanabe
{"title":"Middle Men: The Visible Market-Makers","authors":"Makoto Watanabe","doi":"10.1111/jere.12168","DOIUrl":"10.1111/jere.12168","url":null,"abstract":"<p>This paper presents a framework in which middlemen emerge to intermediate between ex-ante homogeneous buyers and sellers in the presence of search frictions. Middlemen announce prices, and hold an inventory to provide more sure services. Middlemen can mitigate trade imbalances with price competition. Using this framework I illustrate how the frictionless limit can emerge and how middlemen can implement the short-side principle for the market price to be Walrasian. The recent progress in the literature on intermediation will also be discussed.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12168","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76038608","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: 18
Estimation of Discrete Choice Dynamic Programming Models 离散选择动态规划模型的估计
IF 1.2 4区 经济学
Japanese Economic Review Pub Date : 2017-12-01 DOI: 10.1111/jere.12169
Hiroyuki Kasahara, Katsumi Shimotsu
{"title":"Estimation of Discrete Choice Dynamic Programming Models","authors":"Hiroyuki Kasahara,&nbsp;Katsumi Shimotsu","doi":"10.1111/jere.12169","DOIUrl":"10.1111/jere.12169","url":null,"abstract":"<p>This study reviews estimation methods for the infinite horizon discrete choice dynamic programming models and conducts Monte Carlo experiments. We consider: the maximum likelihood estimator (MLE), the two-step conditional choice probabilities estimator, sequential estimators based on policy iterations mapping under finite dependence, and sequential estimators based on value iteration mappings. Our simulation result shows that the estimation performance of the sequential estimators based on policy iterations and value iteration mappings is largely comparable to the MLE, while they achieve substantial computation gains over the MLE by a factor of 100 for a model with a moderately large state space.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12169","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90656784","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: 5
The Japanese Economic Review (Formerly The Economic Studies Quarterly, ISSN 0557-109X) 日本经济评论(原经济研究季刊，ISSN 0557-109X)
IF 1.2 4区 经济学
Japanese Economic Review Pub Date : 2017-11-05 DOI: 10.1111/jere.12172
{"title":"The Japanese Economic Review (Formerly The Economic Studies Quarterly, ISSN 0557-109X)","authors":"","doi":"10.1111/jere.12172","DOIUrl":"https://doi.org/10.1111/jere.12172","url":null,"abstract":"","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2017-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"137487381","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
Estimating Compensation of Employees Based on Taxation Data 基于税务数据的员工薪酬估算
IF 1.2 4区 经济学
Japanese Economic Review Pub Date : 2017-10-10 DOI: 10.1111/jere.12158
Hiroyuki Fujiwara, Yasutaka Ogawa
{"title":"Estimating Compensation of Employees Based on Taxation Data","authors":"Hiroyuki Fujiwara,&nbsp;Yasutaka Ogawa","doi":"10.1111/jere.12158","DOIUrl":"10.1111/jere.12158","url":null,"abstract":"<p>In this paper, we develop a novel approach to estimate the compensation of employees as a portion of Japan's gross domestic income. The methodology is characterized by its extensive use of comprehensive taxation data, and all data used is publicly available. Our estimates turn out to be larger than the numbers in the official statistics, and the difference has been widening in recent years. In addition, the discrepancy of the two estimates for net lending/borrowing between non-financial and financial transactions accounts (in theory, they should be the same) shrinks when the former is recalculated based on our estimates, both for households and for corporations.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2017-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12158","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74591675","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
Macroeconomic Interdependence Between a Stagnant and a Fully Employed Country 经济停滞国家与充分就业国家之间的宏观经济相互依存关系
IF 1.2 4区 经济学
Japanese Economic Review Pub Date : 2017-09-28 DOI: 10.1111/jere.12156
Yoshiyasu Ono
{"title":"Macroeconomic Interdependence Between a Stagnant and a Fully Employed Country","authors":"Yoshiyasu Ono","doi":"10.1111/jere.12156","DOIUrl":"10.1111/jere.12156","url":null,"abstract":"<p>This paper presents a two-country two-commodity dynamic model where one country achieves full employment and the other suffers from secular stagnation of aggregate demand. Own and spillover effects of changes in preference, productivity and policy parameters are examined. Parameter changes that improve the stagnant country's current account, such as a reduction in government purchases, a decrease in foreign aid and an improvement in productivity, raise the relative price of the home commodity. Consequently, home employment shrinks, deflation worsens and consumption decreases. The terms of trade for the full-employment country deteriorate. Thus, income and consumption decrease in both countries.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2017-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12156","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125313027","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: 5
Effect of Bank Mergers on Client Firms: Evidence from the Credit Supply Channel 银行并购对客户公司的影响:来自信贷供给渠道的证据
IF 1.2 4区 经济学
Japanese Economic Review Pub Date : 2017-09-25 DOI: 10.1111/jere.12157
Heather Montgomery, Yuki Takahashi
{"title":"Effect of Bank Mergers on Client Firms: Evidence from the Credit Supply Channel","authors":"Heather Montgomery,&nbsp;Yuki Takahashi","doi":"10.1111/jere.12157","DOIUrl":"10.1111/jere.12157","url":null,"abstract":"<p>This study investigates the effects of bank mergers on client firms. A rich panel of data detailing firm borrowing from individual banks enables controls for demand-side effects to isolate the effect of bank mergers on the supply of credit. The impact of bank mergers on other firm outcomes (growth in total borrowing, distance to default and investment) is also examined. A merger announcement by a firm's main bank results in a contraction in credit supply from the merging bank. Firms are not able to compensate for the reduced credit supply from the main bank, so overall borrowing also declines.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2017-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12157","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130220314","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: 5
Basic and Applied Research: A Welfare Analysis 基础与应用研究:福利分析
IF 1.2 4区 经济学
Japanese Economic Review Pub Date : 2017-08-04 DOI: 10.1111/jere.12154
Kunihiko Konishi
{"title":"Basic and Applied Research: A Welfare Analysis","authors":"Kunihiko Konishi","doi":"10.1111/jere.12154","DOIUrl":"10.1111/jere.12154","url":null,"abstract":"<p>This study constructs a variety expansion growth model that integrates basic research to analyse its effects on household welfare. In our model, the research sector consists of applied and basic research components. The former creates blueprints and expands the variety of goods available for consumption, whereas the latter adds to the public-knowledge stock. The analysis yields several results. First, the steady-state welfare-maximizing level of basic research is below the steady-state growth-maximizing level. Second, a consideration of the welfare effects during the transition path suggests that marginal changes in the level of basic research can increase household welfare even at its steady-state welfare-maximizing level. Third, by using data from Japan, we calibrate the model and find that an increase in basic research spending raises household welfare.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2017-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12154","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120924436","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
Fiscal Stimulus and Endogenous Firm Entry in a Monopolistic Competition Macroeconomic Model 垄断竞争宏观经济模型中的财政刺激与内生企业进入
IF 1.2 4区 经济学
Japanese Economic Review Pub Date : 2017-08-03 DOI: 10.1111/jere.12155
Cheng-Wei Chang, Ching-Chong Lai, Juin-Jen Chang
{"title":"Fiscal Stimulus and Endogenous Firm Entry in a Monopolistic Competition Macroeconomic Model","authors":"Cheng-Wei Chang,&nbsp;Ching-Chong Lai,&nbsp;Juin-Jen Chang","doi":"10.1111/jere.12155","DOIUrl":"10.1111/jere.12155","url":null,"abstract":"<p>This paper sets up a monopolistic competition model featuring the returns to production specialization. Some novel results are derived from the analysis. First, the effect of a fiscal stimulus on consumption may be positive or negative, depending crucially upon whether the production function is characterized by increasing or decreasing returns to production specialization. Second, following a fiscal expansion, increasing returns to specialization lead to a positive linkage between real wages and aggregate output, while decreasing returns to specialization result in a negative relationship between real wages and aggregate output. Third, a fiscal expansion may raise social welfare, provided that the degree of increasing returns to production specialization is sufficiently large.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2017-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12155","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81864599","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: 6
Social Status, Labour Market Frictions and Endogenous Growth 社会地位、劳动力市场摩擦与内生增长
IF 1.2 4区 经济学
Japanese Economic Review Pub Date : 2017-07-14 DOI: 10.1111/jere.12153
Hung-Ju Chen, Dongpeng Liu, Xiangbo Liu
{"title":"Social Status, Labour Market Frictions and Endogenous Growth","authors":"Hung-Ju Chen,&nbsp;Dongpeng Liu,&nbsp;Xiangbo Liu","doi":"10.1111/jere.12153","DOIUrl":"10.1111/jere.12153","url":null,"abstract":"<p>This paper develops an endogenous growth model that incorporates wealth-enhanced preferences for social status and labour market frictions to investigate the role of social status in determining unemployment and long-run growth. We show that the increase in the desire for social status reduces the unemployment rate, but its effect on long-run growth is unclear. We then calibrate our model to the US economy and find that an increase in the desire for social status lowers the unemployment rate and enhances the economic growth rate in the long run.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2017-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12153","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127113748","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
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信