Japan and the World Economy最新文献_第5页

The effects of quantitative easing policy on bank lending: Evidence from Japanese regional banks 量化宽松政策对银行贷款的影响:来自日本地区银行的证据

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-09-01 DOI: 10.1016/j.japwor.2023.101193

Kozo Harimaya , Toshiki Jinushi

引用次数: 0

What caused the downward trend in Japan’s labor share? 是什么导致了日本劳动力份额的下降趋势？

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-09-01 DOI: 10.1016/j.japwor.2023.101206

Masahiro Higo

{"title":"What caused the downward trend in Japan’s labor share?","authors":"Masahiro Higo","doi":"10.1016/j.japwor.2023.101206","DOIUrl":"10.1016/j.japwor.2023.101206","url":null,"abstract":"<div><p>Measuring the labor share is not an easy task. Labor share movements often vary depending on both their definition and the measurement scope. This study estimates the labor share in Japan based on two representative government statistical sources—the National Accounts and the “Financial Statements Statistics of Corporations by Industry” —with their differences in coverage and accounting standards corrected. We confirmed a clear downward trend in Japan’s labor share since the 1990 s, both in the total Japanese economy and in the corporate sector. The driving force behind the labor share decline is the significant decrease in the income of the self-employed (mixed income) and in the salaries and bonuses awarded to executives who are owners of small- and medium-sized enterprises (SMEs). This decrease is attributed to the decline in the number of self-employed individuals and SMEs. By contrast, salaries and bonuses to employees hardly contributed to the decline. These findings suggest that the straightforward narrative that—technological progress, globalization such as the transfer of production overseas, and the expansion of non-regular employment have reduced labor income to employees, thus resulting in a lower labor share—does not directly apply to the Japanese economy. Understanding the mechanism of the decline in Japan’s labor share requires identifying the causes and effects of the decline in the numbers of self-employed individuals and SMEs.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"67 ","pages":"Article 101206"},"PeriodicalIF":1.3,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49668922","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

How does excessive volatility of consumption vary across countries? 消费的过度波动在不同国家有何不同?

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-09-01 DOI: 10.1016/j.japwor.2023.101205

Khaliun Dovchinsuren

引用次数: 0

Estimating the value of energy storage: The role of pumped hydropower in the electricity supply network 估算储能价值：抽水蓄能在供电网络中的作用

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-08-23 DOI: 10.1016/j.japwor.2023.101210

Chihiro Yagi , Kenji Takeuchi

{"title":"Estimating the value of energy storage: The role of pumped hydropower in the electricity supply network","authors":"Chihiro Yagi , Kenji Takeuchi","doi":"10.1016/j.japwor.2023.101210","DOIUrl":"10.1016/j.japwor.2023.101210","url":null,"abstract":"<div><p>This study explores the role of storage systems in reducing the variability of renewable power, focusing on pumped hydropower storage (PHS) systems. We regress the hourly storage by PHS on the hourly solar power generation to estimate the average amount of solar power generation stored by PHS systems. We adopt an instrumental variable approach to mitigate any endogeneity concerns, in which a weighted sunshine duration serves as the instrument for solar power generation. Our estimation results show that PHS systems alleviate the intermittency of solar power generation: an additional 1 MWh of solar power generation corresponds to an additional 0.249 MWh of storage by PHS systems. The relationship between PHS and solar power is more pronounced when the demand is relatively low and solar power generation is large. Inter-regional transmission grids also respond to an increase in solar power generation but to a lesser extent than PHS systems. Based on the estimated coefficients in the empirical analysis, we quantified the value of the existing PHS systems as storage systems that mitigated intermittent solar power generation. The estimated social benefit of avoiding curtailment is 180–280 million yen for a 10 MW scale plant, accounting for 7.7–11.7% of the cost of constructing a new PHS system. The result highlights the importance of effectively utilizing the current PHS capacity.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"68 ","pages":"Article 101210"},"PeriodicalIF":1.3,"publicationDate":"2023-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41560666","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: 1

To use or not to use, that is the question: Income and substitution effects in the feed-in tariff system for solar-generated electricity 使用还是不使用，这就是问题所在：太阳能发电上网电价系统中的收入和替代效应

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-08-22 DOI: 10.1016/j.japwor.2023.101211

Xinyue Yang , Shigeru Matsumoto

{"title":"To use or not to use, that is the question: Income and substitution effects in the feed-in tariff system for solar-generated electricity","authors":"Xinyue Yang , Shigeru Matsumoto","doi":"10.1016/j.japwor.2023.101211","DOIUrl":"10.1016/j.japwor.2023.101211","url":null,"abstract":"<div><p>Feed-in tariff (FIT) is an important worldwide initiative to encourage renewable electricity technologies. Under the Japanese FIT system, households with solar panels decide the amount of both self-consumption and sales to the power company. By analyzing the household self-consumption and sales behaviors of solar-generated electricity obtained from the Ministry of the Environment of Japan, we examine (1) whether the rate of increase in electricity sales by households is higher or lower than the rate of increase in solar power generation and (2) whether self-consumption and sales behaviors of solar-generated electricity differ among households with different sales prices. The results show that the rate of increase in electricity sales is lower than that in solar electricity generation. This suggests that households increase their self-consumption as solar power generation increases. However, as the rate of increase in self-consumption is relatively low, solar-generated electricity is considered as a necessary good. Furthermore, we find that higher sales prices induce households to reduce their self-consumption and increase solar electricity sales to power companies.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"68 ","pages":"Article 101211"},"PeriodicalIF":1.3,"publicationDate":"2023-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42828288","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

Why is the forecast error of quarterly GDP in Japan so large? – From an international comparison of quarterly GDP forecast situation 为什么日本季度GDP的预测误差如此之大-从季度GDP预测情况的国际比较-

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-06-01 DOI: 10.1016/j.japwor.2023.101192

Yasuyuki komaki

引用次数: 1

Commodity prices and global economic activity 商品价格与全球经济活动

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-06-01 DOI: 10.1016/j.japwor.2023.101177

Akito Matsumoto , Andrea Pescatori , Xueliang Wang

引用次数: 2

Management innovations in family firms after CEO successions: Evidence from Japanese SMEs CEO继任后家族企业的管理创新——来自日本中小企业的证据

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-06-01 DOI: 10.1016/j.japwor.2023.101189

Hirofumi Uchida , Kazuo Yamada , Alberto Zazzaro

引用次数: 0

A 50-year history of “zombie firms” in Japan: How banks and shareholders have been involved in corporate bailouts? 日本“僵尸企业”的50年历史:银行和股东是如何参与企业救助的?

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-06-01 DOI: 10.1016/j.japwor.2023.101188

Jun-ichi Nakamura

引用次数: 0

What hinders digital communication? Evidence from foreign firms in Japan 是什么阻碍了数字通信?来自在日外国公司的证据

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-06-01 DOI: 10.1016/j.japwor.2023.101190

Kiyoyasu Tanaka

引用次数: 0