Japan and the World Economy最新文献_第3页

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

Performance feedback on sales growth and M&A: Evidence from China 销售增长和并购的绩效反馈：来自中国的证据

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-01-05 DOI: 10.1016/j.japwor.2023.101236

Jianquan Guo , He Cheng

{"title":"Performance feedback on sales growth and M&A: Evidence from China","authors":"Jianquan Guo , He Cheng","doi":"10.1016/j.japwor.2023.101236","DOIUrl":"10.1016/j.japwor.2023.101236","url":null,"abstract":"<div><p><span>This study examines the effects of performance feedback on sales growth relative to social and historical aspirations on corporate merger and acquisition (M&A) decisions and M&A performance. A sample of 924 M&A deals announced by Chinese manufacturing firms between January 2006 and June 2022 is analyzed using logistic regression and multiple linear regression. Robustness tests are also conducted to show that the main results are consistent. We find that (1) negative performance feedback relative to social aspiration motivates acquirers to undertake more risk in M&A-related decisions such as choosing overseas targets and using non-deferred payments in deal structure; while negative historical performance feedback significantly encourages acquirers to choose deferred deal structure. Positive performance feedback does not have a significant impact on acquirers’ choices; (2) In terms of M&A performance, both negative and positive performance feedback relative to social aspiration can have a positive effect on M&A performance; while historical performance feedback cannot affect M&A performance. This paper addresses the heterogeneity of the effects of performance feedback (which is divided into historical and social performance feedback) on firm behavior and contributes to the Behavioral Theory of Firms and </span>Stewardship theory.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"69 ","pages":"Article 101236"},"PeriodicalIF":1.3,"publicationDate":"2024-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139392048","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

Are sustainable firms more innovative? The case of China 可持续发展的企业更具创新性吗？中国案例

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-01-04 DOI: 10.1016/j.japwor.2024.101238

Kohei Mitsunami , Miwa Nakai

引用次数: 0

The impact of demographic change on the natural rate of interest in Japan 人口变化对日本自然利率的影响*

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2024-01-03 DOI: 10.1016/j.japwor.2023.101237

Fei Han

引用次数: 0

How competitiveness evolved in the Japanese bank loan market between 1977 and 2020 1977 年至 2020 年间日本银行贷款市场的竞争力如何演变

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-12-14 DOI: 10.1016/j.japwor.2023.101232

Tomoya Maruyama

{"title":"How competitiveness evolved in the Japanese bank loan market between 1977 and 2020","authors":"Tomoya Maruyama","doi":"10.1016/j.japwor.2023.101232","DOIUrl":"10.1016/j.japwor.2023.101232","url":null,"abstract":"<div><p>In this study, I estimate the degree of competition in the Japanese loan market using a new empirical industrial organization method. With it, I conduct a long-term analysis of more than 40 years that includes the effect of financial deregulation prior to 2000. The model adopts an appropriate identification strategy in the estimation by introducing a rotation term to the demand function. This study also has an examination of the mechanism behind the long-term development of competition to test the validity of two hypotheses: the efficient structure hypothesis and the market power hypothesis. The findings are as follows: (1) The Japanese loan market was the least competitive around 1980, and competition has intensified since then. (2) After 2000, competition has generally increased, especially among large city banks with a nationwide presence. (3) The correlation analyses between market concentration, degree of competition, and cost efficiency indicate that the results are consistent with the efficient structure hypothesis except for the period around 2000. In contrast, the results are consistent with the market power hypothesis in the 1990s, but become inconsistent thereafter.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"69 ","pages":"Article 101232"},"PeriodicalIF":1.3,"publicationDate":"2023-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138680391","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

Effects of alternative pricing structures on electricity consumption and payments in the commercial and industrial sector 不同定价结构对商业和工业部门电力消费和支付的影响

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-11-17 DOI: 10.1016/j.japwor.2023.101223

Asahi Oshiro , Nori Tarui

引用次数: 0