{"title":"Testing for Pricing Behavior in the Mortgage Loan Market","authors":"Haerang Park","doi":"10.1111/asej.12247","DOIUrl":"10.1111/asej.12247","url":null,"abstract":"<p>This study examines the pricing behavior of banks in the mortgage loan market. Firstly, the paper compares the loan pricing behavior of banks between two periods, one of which is marked as a more competitive state due to regulatory intervention. Secondly, the paper also test for the stock market reaction to model-implied collusive profits. Using data from banks in Korea, the paper find that mortgage loan rates are more consistent with cooperative pricing behavior than independent pricing behavior in the period from 2006 to 2012.</p>","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 3","pages":"270-293"},"PeriodicalIF":1.3,"publicationDate":"2021-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45046782","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}
Wataru Kureishi, Colin McKenzie, Kei Sakata, Midori Wakabayashi
{"title":"Does a Mother's Early Return to Work after Childbirth Improve Her Future Employment Status?*","authors":"Wataru Kureishi, Colin McKenzie, Kei Sakata, Midori Wakabayashi","doi":"10.1111/asej.12246","DOIUrl":"10.1111/asej.12246","url":null,"abstract":"<p>We examine whether a mother's early return to work after her first birth improves her employment status in the short term and the long term (3 and 10/12 years after the child's birth). Specifically, this research investigates whether a mother is more likely to be in full-time employment if she returns to work within 1 year of childbirth (i.e. without using her allowable parental leave to the full). We estimate recursive bivariate probit models for a mother's early return to work and her subsequent employment status using July births as an instrument. Our approach is unique in that we shed light on the relationship between the timing of a birth (birth month) and the timing of a mother's return to work after childbirth. The birth month affects the cut-off dates for admission into a licensed childcare facility in Japan, which, in turn, affects the timing of a mother's return to work. Our empirical evidence reveals that a mother's early return to work after her first birth has a positive causal effect on the likelihood of her being in full-time employment in the long term (10 and 12 years after childbirth). We do not find any causal effect of an early return to work on working full time in the short term (3 years after childbirth).</p>","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 3","pages":"215-245"},"PeriodicalIF":1.3,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/asej.12246","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42733891","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Where to Locate? The Correlation Between Spatial Proximity and Location Choice of New Firms: The Case of Pakistan*","authors":"Maryiam Haroon, Azam Chaudhry","doi":"10.1111/asej.12243","DOIUrl":"10.1111/asej.12243","url":null,"abstract":"<p>The formation of new firms is an important determinant of regional economic development and agglomeration is a key factor affecting the formation and scale of operations of new firms. The present paper is among the first to explore the relationship between agglomeration economies (using localization and urbanization economies) and new firms' formation and scale of operations in a developing country. We make use of rich firm-level data and find that agglomeration has a significant impact on the formation of new firms and their scale of operation in Punjab, Pakistan. Our findings also reveal that localization at all scales (small, medium and large) has a positive correlation with the arrival of new firms, while medium-scale and large-scale localization is positively correlated with the scale of operation of new firms.</p>","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 2","pages":"187-208"},"PeriodicalIF":1.3,"publicationDate":"2021-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/asej.12243","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42408292","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}
{"title":"Determinants of Earnings and Gender Earnings Gaps among Highly Educated Workers within Major Cities in Asian Countries*","authors":"Mamiko Takeuchi","doi":"10.1111/asej.12242","DOIUrl":"10.1111/asej.12242","url":null,"abstract":"<p>The present paper analyzes determinants of earnings and the gender earnings gap among highly educated younger workers from nine major cities in Asian countries. We identify skill premiums for both men and women in each city, such as holding a postgraduate degree or degrees in specific fields and experience working or studying abroad. These results show that competition for earnings among highly educated younger workers has been increasing in these cities. Furthermore, the results reveal that, despite being quite narrow, significant gender gaps do exist; the means of log female earnings in each city range between 95.6 and 97.9 percent of those of men. Individuals having natural science degrees or managerial positions possibly affects these small gender gaps in some cities.</p>","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 2","pages":"166-186"},"PeriodicalIF":1.3,"publicationDate":"2021-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/asej.12242","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45953246","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}
{"title":"Do Higher-Quality Regional Trade Agreements Improve the Quality of Export Products from China to “One-Belt One-Road” Countries?*","authors":"Jin Sun","doi":"10.1111/asej.12241","DOIUrl":"10.1111/asej.12241","url":null,"abstract":"<p>The paper examines the impact of the quality of regional trade agreements (RTA) on the quality of China's exports to the ‘Belt and Road' countries. We use enterprise and product data from China and from 11 Belt and Road countries that have signed RTA with China. The quality of the RTA, as measured by clause coverage and law commitment indexes, significant impact in the quality of export products. In RTAs, the commitment rate plays an overall important role; however, the clause coverage rate of the new generation of WTO-X agreements has a greater effect than for WTO+ agreements, especially for medium and high-technology products, which must meet the high standards. The effect of high-quality RTA is greater in improving the quality of Chinese state-owned enterprises' products exported to Belt and Road countries when compared with those of private and foreign-holding companies.</p>","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 2","pages":"142-165"},"PeriodicalIF":1.3,"publicationDate":"2021-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/asej.12241","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44594100","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}
{"title":"New Developments in International Production Networks: Impact of Digital Technologies*","authors":"Ayako Obashi, Fukunari Kimura","doi":"10.1111/asej.12240","DOIUrl":"https://doi.org/10.1111/asej.12240","url":null,"abstract":"<p>We conducted a standard gravity exercise using worldwide disaggregated trade data to shed light on the influence of digital technologies on network trade. We found that growing investment in industrial robots in relatively lagging economies, together with imported digitally deliverable services, is enhancing bilateral network trade flows in East Asia, but not necessarily in other parts of the world. This suggests that exploring complementarities between machines and human resources in production blocks supported by better service-link connectivity may allow newly developed economies to retain and expand the international division of labor.</p>","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 2","pages":"115-141"},"PeriodicalIF":1.3,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/asej.12240","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92306373","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}
{"title":"The Effect of Public Infrastructure on Cost Structure and Performance of Chinese Provinces*","authors":"Chen Yu, Theofanis P. Mamuneas","doi":"10.1111/asej.12229","DOIUrl":"10.1111/asej.12229","url":null,"abstract":"<p>This paper estimates a translog cost function for 29 Chinese provinces between 1979 and 2018. The results imply that investment in public infrastructure reduces costs in all provinces. Comparing the estimated rate of return to infrastructure with the rate of return to private capital, our results indicate underinvestment for the initial period after the economic reforms; however, after 2010 our results show overinvestment in infrastructure. Infrastructure capital is a substitute input to labor, private capital and intermediate inputs. Finally, public infrastructure growth contributes positively to labor and total factor productivity growth, but the effect is small. The growth of private capital and intermediate inputs are the most important factors that boost the growth of labor productivity.</p>","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 1","pages":"3-26"},"PeriodicalIF":1.3,"publicationDate":"2021-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/asej.12229","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43873915","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}
{"title":"Do ‘Boss Effects’ Exist in Japanese Companies? Evidence from Subordinate–Supervisor Matched Panel Data*","authors":"Yuko Okajima, Hisakazu Matsushige, Yuwei Ye","doi":"10.1111/asej.12228","DOIUrl":"10.1111/asej.12228","url":null,"abstract":"<p>This article investigates whether supervisors can significantly enhance their subordinates' performance using a five-waves panel dataset from a medium-sized Japanese firm comprising around 400 employees. The dataset includes all regular non-managerial employees working in one manufacturing company. About 40 supervisors were matched to their subordinates, and the evaluation outcomes were used to evaluate the worker performance. The results showed that supervisor effects were heterogeneous, displayed a one-year lag, and lasted for two years. We proved the existence of the supervisor effect on current performance, by using current supervisor dummies or past supervisor dummies. Irrespective of the supervisor being switched, the effect of the past supervisor on workers’ current performance continues to exist. It was also found that these effects remained significant, even when workers were assigned new/different supervisors.</p>","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 1","pages":"57-75"},"PeriodicalIF":1.3,"publicationDate":"2021-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/asej.12228","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"63195913","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}
{"title":"Reflections on a Journey*","authors":"Hal Hill","doi":"10.1111/asej.12230","DOIUrl":"10.1111/asej.12230","url":null,"abstract":"","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 1","pages":"96-105"},"PeriodicalIF":1.3,"publicationDate":"2021-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/asej.12230","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46205412","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}
{"title":"Postponement of EAEA17 Conference: Call for Papers and Preliminary Information","authors":"","doi":"10.1111/asej.12231","DOIUrl":"https://doi.org/10.1111/asej.12231","url":null,"abstract":"","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 1","pages":"106-108"},"PeriodicalIF":1.3,"publicationDate":"2021-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/asej.12231","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"109175344","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}