Japan and the World Economy最新文献_第6页

Self-preferencing by platforms: A literature review 平台的自我偏好：文献综述

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-06-01 DOI: 10.1016/j.japwor.2023.101191

Yuta Kittaka , Susumu Sato , Yusuke Zennyo

引用次数: 3

Chronological changes of government sectors’ fiscal policies and fiscal sustainability in Japan 日本政府部门财政政策的时序变化与财政可持续性

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-06-01 DOI: 10.1016/j.japwor.2023.101178

Motonori Yoshida

{"title":"Chronological changes of government sectors’ fiscal policies and fiscal sustainability in Japan","authors":"Motonori Yoshida","doi":"10.1016/j.japwor.2023.101178","DOIUrl":"10.1016/j.japwor.2023.101178","url":null,"abstract":"<div><p>Since the end of the 1990 s, the sluggish growth of Japan’s gross domestic product (GDP) and the mired fiscal state of its public sector have provoked consternation about its public sector’s fiscal sustainability. Therefore, I estimated the fiscal reaction functions (stemming from Bohn, 1998a, 2008) with time-varying parameters for all Japan’s government sectors (for 1976Q2–2020Q1), i.e., the general government (GG), the central government (CG), the whole of the local governments (WLG), and the whole of the social security funds (WSSF), to chronologically assess their fiscal sustainability using four different models, including a least-squares with breakpoints model and a state-space model with the Kalman filter. My results demonstrate that (1) the least-squares with breakpoints model outperformed the others, and (2) although CG, WLG, and WSSF often sustainably managed their finances during the analysis term, GG has failed to implement a sustainable fiscal policy from the mid-1990 s (3) CG and WSSF adjusted their fiscal postures according to Japan’s economic state. Fiscal severity caused WLG to change its fiscal posture.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"66 ","pages":"Article 101178"},"PeriodicalIF":1.3,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46792433","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

Why do people oppose foreign acquisitions? Evidence from Japanese individual-level data 为什么人们反对外国收购?来自日本个人数据的证据

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-06-01 DOI: 10.1016/j.japwor.2023.101187

Banri Ito , Ayumu Tanaka , Naoto Jinji

{"title":"Why do people oppose foreign acquisitions? Evidence from Japanese individual-level data","authors":"Banri Ito , Ayumu Tanaka , Naoto Jinji","doi":"10.1016/j.japwor.2023.101187","DOIUrl":"https://doi.org/10.1016/j.japwor.2023.101187","url":null,"abstract":"<div><p>This study empirically examines the determinants of individuals’ attitudes about inward foreign direct investment (FDI) using responses from questionnaire surveys that were originally designed. Individuals’ preferences for inward FDI differ between greenfield investments and mergers and acquisitions (M&A), and people are more likely to have a negative attitude toward M&A than greenfield investments. People with a negative image of the so-called “vulture fund” for foreign capital tend to oppose inward FDI, and this is more pronounced for M&A than greenfield investments. Moreover, loss aversion and high time preference rates are strongly related to opposition to inward FDI, and people with such behavioral biases tend to refuse indigenous firms to be acquired by foreign capital, even if they agree to accept greenfield investment. These results indicate that people’s preferences for inward FDI depend more on non-economic attributes than economic attributes. Our results also suggest that a lack of economic literacy is associated with unconscious biases against accepting inward FDI.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"66 ","pages":"Article 101187"},"PeriodicalIF":1.3,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49730066","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 Japan’s carbon emissions from road transportation declining? 为什么日本道路运输的碳排放量在下降？

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-06-01 DOI: 10.1016/j.japwor.2023.101194

Yoshifumi Konishi , Sho Kuroda

{"title":"Why is Japan’s carbon emissions from road transportation declining?","authors":"Yoshifumi Konishi , Sho Kuroda","doi":"10.1016/j.japwor.2023.101194","DOIUrl":"10.1016/j.japwor.2023.101194","url":null,"abstract":"<div><p>Average fuel efficiency of vehicles improved substantially over the last three decades in Japan. Yet, the carbon emissions<span> from on-road passenger vehicles continued to increase until 2000, and then turned to a steadily declining trend. We empirically investigate this disparity. To that end, we apply an analogue of the Copeland-Taylor decomposition, combined with an empirically estimated behavioral model of car ownership and utilization choice, to economically decompose vehicle carbon emissions into the scale, composition, and technique effects over our study period, 1990–2015. We find that exogenous demographic changes such as population size, driver’s license holdings, or labor migration across regions can only explain this disparity partially. After accounting for endogenous changes in household’s geographically-explicit transport demand by the estimated behavioral model, the predicted emissions match the time path of the observed emissions surprisingly well. Of all the factors in the behavioral model, the fuel cost per unit of driving accounts for the largest share of the total variation in the observed emissions. Our result indicates that 60% of the technique effect is offset by the perverse effect of induced transport demand due to the lower fuel cost. Importantly, the induced demand comes from both the intensive margin (driving) and the extensive margin (car ownership).</span></p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"66 ","pages":"Article 101194"},"PeriodicalIF":1.3,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41632004","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

Elderly long-term care policy and sandwich caregivers’ time allocation between child-rearing and market labor 老年人长期照护政策与夹心照护者育儿与市场劳动时间分配

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-03-01 DOI: 10.1016/j.japwor.2023.101175

Akira Yakita

{"title":"Elderly long-term care policy and sandwich caregivers’ time allocation between child-rearing and market labor","authors":"Akira Yakita","doi":"10.1016/j.japwor.2023.101175","DOIUrl":"10.1016/j.japwor.2023.101175","url":null,"abstract":"<div><p>Using an overlapping generations model, we present analyses of public long-term care provision effects on fertility and time allocation decisions of sandwich caregivers, those caring for young children and old parents simultaneously. If the public long-term care level runs short of the necessary level, then working children must compensate for the difference by spending their time. Reportedly, about a third of university students’ parents are sandwich caregivers in Japan, although Japan has a Long-Term Care Insurance system, which is a mandatory system with universal coverage. With a rapidly aging population, demand for long-term care is predicted to increase, thereby affecting family time allocation, e.g., fertility decisions, in Japan. Results show that if public long-term care production is costly relative to family care provision, then increases in public care provision lower the fertility rate. If labor productivity in the public long-term care sector improves, then it increases the fertility rate by freeing caregivers’ time from family care provision. It will also increase social welfare. The effects on labor employment in the goods production sector are generally ambiguous because the increased public care provision requires more labor.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"65 ","pages":"Article 101175"},"PeriodicalIF":1.3,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48522415","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

Is downsizing a good strategy during the downturn? Evidence from Taiwanese manufacturing firms 经济低迷时期裁员是个好策略吗?来自台湾制造企业的证据

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-03-01 DOI: 10.1016/j.japwor.2022.101171

Eric S. Lin , Chia-Ling Lin , Hui-Lin Lin , Yi-Chi Hsiao

引用次数: 1

Impact of international expansion strategy on the performance of Japanese banks 国际扩张战略对日本银行业绩的影响

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-03-01 DOI: 10.1016/j.japwor.2022.101173

Joseph Jr. Aduba , Kozo Harimaya

{"title":"Impact of international expansion strategy on the performance of Japanese banks","authors":"Joseph Jr. Aduba , Kozo Harimaya","doi":"10.1016/j.japwor.2022.101173","DOIUrl":"https://doi.org/10.1016/j.japwor.2022.101173","url":null,"abstract":"<div><p>The effect of cross-border diversification on bank performance is part of the broader debate on how multinational banking and financial integration affect the global financial economy. Previous studies that examined this relationship present mixed results - namely that cross-border diversification improves bank performance but also increases bank risks that could lead to systemic failure. Even so, this line of debate has not been examined in the case of Japanese banks conducting international operations. The present study questions whether cross-border diversification improves the performance of Japanese banks and to what extent each cross-border expansion activity affects bank performance. The latter was largely ignored in previous studies. Our results show that cross-border diversification improves cost efficiency but decreases/harms the profit efficiency of the banks analyzed. In addition, we find that the expansion of foreign assets and foreign branch operations present funding risks and operational inefficiency. We offer two important recommendations. First, as a major player in international lending, the current expansion activities of Japanese banks require close monitoring and supervision to prevent systemic risk resulting from aggressive and risky overseas expansion activities. Second, the current expansion strategies of Japanese banks, especially the expansion of overseas assets and branch operations (retail banking), should be re-examined.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"65 ","pages":"Article 101173"},"PeriodicalIF":1.3,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49857327","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

The Balassa-Samuelson model with job separations 巴拉萨-萨缪尔森离职模型

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-03-01 DOI: 10.1016/j.japwor.2022.101172

Noel Gaston , Taiyo Yoshimi

引用次数: 0

Consumer price measurement under the first wave of the COVID-19 spread in Japan: Scanner data evidence for retailers in Tokyo 日本第一波新冠肺炎疫情下的消费者价格测量：东京零售商的扫描仪数据证据

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-03-01 DOI: 10.1016/j.japwor.2023.101176

Masahiro Higo , Shigenori Shiratsuka

{"title":"Consumer price measurement under the first wave of the COVID-19 spread in Japan: Scanner data evidence for retailers in Tokyo","authors":"Masahiro Higo , Shigenori Shiratsuka","doi":"10.1016/j.japwor.2023.101176","DOIUrl":"10.1016/j.japwor.2023.101176","url":null,"abstract":"<div><p>In this paper, we examine the CPI (consumer price index) measurement errors under the first wave of the COVID-19 spread in Japan. To address this question, we construct high-frequency quality-adjusted price indices by employing daily scanner data from retail stores in Tokyo. We demonstrate the importance of using price data with the wide-ranging coverage of products and outlets by making explicit adjustments for temporary sales effects and retail service quality in examining the retail price dynamics under the COVID-19 pandemic as the voluntary lockdown constrained household purchasing behavior. Note that the sources of the CPI measurement errors under the COVID-19 pandemic differ significantly from those in the US, observed as wide-ranging and long-lasting stockouts. We show that downward bias, not upward bias generally advocated, was observed during the first wave of the COVID-19 spread in Japan. The magnitude of the downward bias is estimated at from <span><math><mrow><mo>−</mo><mn>0</mn><mo>.</mo><mn>6</mn></mrow></math></span> to <span><math><mrow><mo>−</mo><mn>0</mn><mo>.</mo><mn>3</mn></mrow></math></span> points on the CPI for food less perishables and eating out on the basis of cumulative changes from January 2020 to June. The contribution of the estimates to the overall CPI is <span><math><mrow><mo>−</mo><mn>0</mn><mo>.</mo><mn>3</mn><mtext>%</mtext></mrow></math></span> to <span><math><mrow><mo>−</mo><mn>0</mn><mo>.</mo><mn>15</mn><mtext>%</mtext></mrow></math></span> points on an annualized basis, considering that the estimation covers half-year and the weights are about a quarter of the overall CPI. The magnitude of measurement errors is deemed limited, and the overall trend of the CPI remains unchanged even after incorporating the estimated downward bias. It should be noted that this downward bias arises mainly from the “one-specification-for-one-item” policy by weakening the price representativeness in the Japanese CPI.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"65 ","pages":"Article 101176"},"PeriodicalIF":1.3,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47124626","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

Expenditure responses to the COVID-19 pandemic 应对COVID-19大流行的支出措施

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-03-01 DOI: 10.1016/j.japwor.2022.101174

Junichi Kikuchi , Ryoya Nagao , Yoshiyuki Nakazono

引用次数: 3