Japan and the World Economy最新文献_第2页

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

Overnight earnings announcements and preopening price discovery 隔夜收益公告和开盘前价格发现

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-03-12 DOI: 10.1016/j.japwor.2024.101249

Xijuan Xiao , Ryuichi Yamamoto

引用次数: 0

A computable general equilibrium analysis of the EU CBAM for the Japanese economy 欧盟 CBAM 对日本经济的可计算一般均衡分析

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-03-05 DOI: 10.1016/j.japwor.2024.101242

Shiro Takeda , Toshi H. Arimura

{"title":"A computable general equilibrium analysis of the EU CBAM for the Japanese economy","authors":"Shiro Takeda , Toshi H. Arimura","doi":"10.1016/j.japwor.2024.101242","DOIUrl":"https://doi.org/10.1016/j.japwor.2024.101242","url":null,"abstract":"<div><p>The EU plans to introduce a carbon border adjustment mechanism (CBAM) to curb carbon leakage and to protect energy-intensive and trade-exposed (EITE) industries. This move by the EU to introduce CBAMs has raised concerns in Japan that it will harm Japanese industry and the Japanese economy. To address these concerns, this study tries to provide an ex ante and quantitative analysis of the economic and environmental effects of the introduction of the EU CBAM. To capture the effects of the EU CBAM, this study employs a global multiregional, multisector computable general equilibrium model with 18 sectors and 17 regions. The main insights obtained from the analysis are as follows. First, we find that the introduction of the EU CBAM significantly reduces carbon leakage from the EU. Second, the effects of the introduction of CBAMs on the GDP and welfare of each country vary from country to country, but the effects are generally very small. While there is a positive impact on GDP and welfare in Japan, the magnitude of the impact is very small. There will also be a negative impact on Japan’s EITE industries, but the magnitude of this impact is very small and not of great concern.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"70 ","pages":"Article 101242"},"PeriodicalIF":1.3,"publicationDate":"2024-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140195522","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

Impact of the feed-in-tariff exemption on energy consumption in Japanese industrial plants 上网电价豁免对日本工业厂房能源消耗的影响

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-03-01 DOI: 10.1016/j.japwor.2024.101241

Aline Mortha , Naonari Yajima , Toshi H. Arimura

{"title":"Impact of the feed-in-tariff exemption on energy consumption in Japanese industrial plants","authors":"Aline Mortha , Naonari Yajima , Toshi H. Arimura","doi":"10.1016/j.japwor.2024.101241","DOIUrl":"10.1016/j.japwor.2024.101241","url":null,"abstract":"<div><p>To promote renewable energy deployment, Japan introduced a feed-in tariff policy in 2012, financed through a surcharge on electricity prices for consumers. The Japanese government also offered a discount system for electricity-intensive industrial plants, exempting them from paying full surcharges. Using monthly plant-level data from 2005 to 2018, this study evaluated the exemption system’s impact on electricity and fossil fuel consumption for plants in the iron and steel, chemical products, and pulp and paper sectors. Our results show that the exempted iron and steel plants decreased electricity purchase and consumption 18.62% and 17.88% after 2017, respectively. This decrease is attributed to the introduction of an electricity efficiency after 2017. It is worth noting, however, that the revision of the scheme did not affect the chemical, pulp and paper sectors. In this sense, a stronger efficiency requirement might be warranted to ensure the decrease in electricity consumption for all sectors. Nevertheless, we estimate that roughly 7 million tCO<sub>2</sub> have been avoided thanks to the decrease in electricity consumption in the iron and steel sector.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"69 ","pages":"Article 101241"},"PeriodicalIF":1.3,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140047121","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

Impact of the Kuroda Bazooka on Japanese households’ borrowing intentions 黑田火箭炮对日本家庭借贷意向的影响

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-02-06 DOI: 10.1016/j.japwor.2024.101240

Hiroshi Gunji

引用次数: 0

International business cycle synchronization: A synthetic assessment 国际商业周期同步：综合评估

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-02-06 DOI: 10.1016/j.japwor.2024.101239

Hyun-Hoon Lee , Cyn-Young Park , Ju Hyun Pyun

引用次数: 0