Japan and the World Economy最新文献_第2页

Is part-time employment an adjusting valve?: Business cycle analysis on the labor market in Japan by dual search and matching model 兼职就业是调节阀吗？通过二元搜索和匹配模型对日本劳动力市场的商业周期分析

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-08-02 DOI: 10.1016/j.japwor.2024.101270

Daisuke Nakamura

{"title":"Is part-time employment an adjusting valve?: Business cycle analysis on the labor market in Japan by dual search and matching model","authors":"Daisuke Nakamura","doi":"10.1016/j.japwor.2024.101270","DOIUrl":"10.1016/j.japwor.2024.101270","url":null,"abstract":"<div><p>This study examines the role of part-time employment in Japan’s business cycles from 2002Q1 to 2018Q3 using a two-sector competitive search and matching model. The model is estimated by the generalized method of moments (GMM). The results demonstrate that part-time employment exhibits significantly higher volatility compared to full-time employment in response to productivity shocks. Companies adapt their utilization of part-time labor through both extensive and intensive margins to a similar extent, which stands in contrast to full-time workers whose labor input variation is primarily explained by the intensive margin. These findings substantiate the concept of part-time employment serving as an “Adjusting Valve for Employment” within the Japanese labor market. However, the model only accounts for a limited portion of the fluctuations in the proportion of part-time workers among total employment. The GMM estimation reveals that a general productivity shock adequately explains variations in wage rates and market tightness, but it falls short in accounting for fluctuations in the share of part-time employment. Thus, the findings suggest the necessity for more sophisticated models to amplify the variation in part-time employment while keeping wage rates and market tightness unchanged.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"71 ","pages":"Article 101270"},"PeriodicalIF":1.3,"publicationDate":"2024-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141937811","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

Institutional, quality, the level of development and Japanese outward foreign direct investment 制度、质量、发展水平与日本对外直接投资

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-07-22 DOI: 10.1016/j.japwor.2024.101267

Andrzej Cieślik , Michael Ryan

引用次数: 0

The impact of a CSR committee on CSR performance 企业社会责任委员会对企业社会责任绩效的影响

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-07-20 DOI: 10.1016/j.japwor.2024.101269

Katsuyuki Kubo, Ryo Sasaki

引用次数: 0

The rise of internet-only banks: Analyzing the bias in cross-prefectural money demand elasticity 纯互联网银行的兴起：分析跨省货币需求弹性的偏差

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-07-19 DOI: 10.1016/j.japwor.2024.101268

Hiroshi Fujiki

引用次数: 0

Zombie lending, labor hoarding, and local industry growth 僵尸贷款、劳动力囤积和地方产业增长

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-06-23 DOI: 10.1016/j.japwor.2024.101266

Jeff Kin Wai Cheung , Masami Imai

引用次数: 0

Impact of diseconomy of mixed land-use on factory land redevelopment in large urban area: Evidence from Japan 土地混合使用的不经济性对大型城区工厂用地再开发的影响：来自日本的证据

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-05-18 DOI: 10.1016/j.japwor.2024.101256

Shinya Fukui , Dung Anh Luong

引用次数: 0

Cross-country differences in the effects of monetary policy shocks on output and prices and their determinants 货币政策冲击对产出和价格的影响及其决定因素的跨国差异

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-05-16 DOI: 10.1016/j.japwor.2024.101255

Geunhyung Yim , Seungho Nah , Daun Oh

{"title":"Cross-country differences in the effects of monetary policy shocks on output and prices and their determinants","authors":"Geunhyung Yim , Seungho Nah , Daun Oh","doi":"10.1016/j.japwor.2024.101255","DOIUrl":"10.1016/j.japwor.2024.101255","url":null,"abstract":"<div><p>On the basis of a sample of 19 countries and using sign-restricted VAR and second-stage regression, this research investigates whether there exist differences in the effects of monetary shocks on output and prices between countries, and, if any, which country characteristics incur such differences. The VAR analysis shows that monetary policy shocks of the same magnitude generate differences in terms of the effects on output and prices between countries. The maximal responses of industrial production indexes to a 25-basis-point shock policy rate cut range from a decrease to an over 3% increase with an average of about 1–2% increase. Those of consumer price indexes range from 0.3% to around a 2% increase, with an average of 0.9% increase. The results from regression analysis imply that various country characteristics engender disparities in the responses to monetary policy shocks. The magnitude of the output responses to monetary policy shocks is larger in countries with a monetary policy framework closer to inflation-targeting, a more flexible exchange rate regime, more rapid population aging, and a more rigid labor market, and is smaller in countries with a more independent central bank and a more developed financial market. The size of the price responses is larger in countries with higher trade openness and a more rigid labor market, and smaller in countries with a monetary policy framework closer to inflation-targeting and more rapid population aging.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"70 ","pages":"Article 101255"},"PeriodicalIF":1.3,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141038135","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

Does the reduction in instruction time affect student achievement and motivation? Evidence from Japan 减少教学时间会影响学生的成绩和学习动机吗？来自日本的证据

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-04-26 DOI: 10.1016/j.japwor.2024.101254

Minae Niki

{"title":"Does the reduction in instruction time affect student achievement and motivation? Evidence from Japan","authors":"Minae Niki","doi":"10.1016/j.japwor.2024.101254","DOIUrl":"https://doi.org/10.1016/j.japwor.2024.101254","url":null,"abstract":"<div><p>This paper examines how instruction time affects students’ cognitive ability and motivation. It uses data obtained from the responses of 4th-grade Japanese students from the international academic survey “Trends in International Mathematics and Science Study.” The study estimates a fixed effects model using within-student between-subject variation, which, in 2002, caused a reduction in instruction time due to the revision of curriculum guidelines in Japan. To remove teachers’ fixed effects, the sample was restricted to students taught by the same teacher. The results demonstrate that instruction time positively affects student test scores and two out of three motivation variables (<em>Like and Positive</em>). This result suggests that the 2002 educational reform negatively impacted students’ cognitive and non-cognitive abilities. Further, instruction time had different effects on test scores and motivation variables (<em>Like and Positive</em>) for students’ and teachers’ gender. Additionally, instruction time also positively impacted scores and motivation variables (<em>Like, or Like and Positive</em>) in combination with teachers who had experience of ten or more years and students who had time to study at home.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"70 ","pages":"Article 101254"},"PeriodicalIF":1.3,"publicationDate":"2024-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0922142524000173/pdfft?md5=177d9f47f36f8a5d77ae18d9a56067ee&pid=1-s2.0-S0922142524000173-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140893967","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}

引用次数: 0

A fiscal theory of central bank’s solvency: Perils of the quantitative and qualitative monetary easing 中央银行偿付能力的财政理论：定量和定性宽松货币政策的危险

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-04-02 DOI: 10.1016/j.japwor.2024.101252

Hidekazu Niwa

{"title":"A fiscal theory of central bank’s solvency: Perils of the quantitative and qualitative monetary easing","authors":"Hidekazu Niwa","doi":"10.1016/j.japwor.2024.101252","DOIUrl":"https://doi.org/10.1016/j.japwor.2024.101252","url":null,"abstract":"<div><p>The Bank of Japan has purchased long-term Japanese government bonds under the Quantitative and Qualitative Monetary Easing (QQE). To study monetary policy after the Bank of Japan exits the QQE, we develop a model in which the fiscal authority commits: (ⅰ) not to making fiscal adjustments needed to stabilize government debt and (ⅱ) not to providing financial supports for the central bank that incurs losses on its balance sheet due to a decline in the price of long-term bonds. Within this framework, this study investigates how the interaction between these commitments reduces the ability of monetary policy to control inflation after liftoff from the zero lower bound. We consider a situation in which the central bank that holds long-term bonds raises the nominal interest rates and show two key results: (ⅰ) when the Taylor principle is violated, under certain conditions, inflation right after liftoff cannot overshoot the central bank’s target; (ⅱ) when the central bank follows the Taylor principle, under certain conditions, it cannot prevent the economy from converging to the deflationary steady state.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"70 ","pages":"Article 101252"},"PeriodicalIF":1.3,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140555530","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

Does risk aversion affect individuals’ interests and actions in angel investing? Empirical evidence from Japan 风险规避会影响个人在天使投资中的兴趣和行动吗？日本的经验证据

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-04-01 DOI: 10.1016/j.japwor.2024.101253

Yuji Honjo , Kenta Ikeuchi , Hiroki Nakamura

{"title":"Does risk aversion affect individuals’ interests and actions in angel investing? Empirical evidence from Japan","authors":"Yuji Honjo , Kenta Ikeuchi , Hiroki Nakamura","doi":"10.1016/j.japwor.2024.101253","DOIUrl":"https://doi.org/10.1016/j.japwor.2024.101253","url":null,"abstract":"<div><p>This study explores individuals’ interests and actions in angel investing. Using a sample of Japanese individuals who are interested and engage in general investing obtained from original survey data, we examine whether risk aversion and subjective time discounting are associated with angel investing. To provide a clear picture of potential and actual angel investors, we classify individuals’ attitudes toward angel investing into “no interest,” “interest only,” and “action.” By estimating the marginal effects of risk aversion on angel investment, we find that individuals’ risk aversion is negatively associated with their angel investment actions; that is, individuals with a higher degree of risk aversion are less likely to engage in angel investing. We also find that wealthy individuals are more likely to engage in angel investing. Moreover, among individuals with entrepreneurial experience, subjective time discounting is positively associated with their angel investment actions, suggesting that entrepreneurs with higher subjective time discounting are more likely to engage in angel investing.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"70 ","pages":"Article 101253"},"PeriodicalIF":1.3,"publicationDate":"2024-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0922142524000161/pdfft?md5=04415e4fe86000574b0bd06aafa5f113&pid=1-s2.0-S0922142524000161-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140548189","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}

引用次数: 0