Japan and the World Economy最新文献_第7页

Indonesian capital city relocation and regional economy's transition toward less carbon-intensive economy: An inter-regional CGE analysis 印尼首都迁移与区域经济向低碳经济转型:区域间CGE分析

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-09-21 DOI: 10.1016/j.japwor.2023.101212

Arief A. Yusuf , Elizabeth L. Roos , J. Mark Horridge , Djoni Hartono

{"title":"Indonesian capital city relocation and regional economy's transition toward less carbon-intensive economy: An inter-regional CGE analysis","authors":"Arief A. Yusuf , Elizabeth L. Roos , J. Mark Horridge , Djoni Hartono","doi":"10.1016/j.japwor.2023.101212","DOIUrl":"https://doi.org/10.1016/j.japwor.2023.101212","url":null,"abstract":"<div><p>Transitioning to a low-carbon economy can take various forms, one of which is structural change, particularly tertiarization. When the economic structure shifts from being dominated by sectors that rely heavily on fossil fuels to one that does not, the economy can become less carbon-intensive. The relocation of Indonesia's capital city from Jakarta to East Kalimantan is an example of how a traditionally resource-intensive regional economy may respond to the sudden emergence of a large-scale service sector, in this case, the government sector. This paper investigates how the capital city relocation may affect the destination region's economic structure using an inter-regional computable general equilibrium modeling<span><span>. The model considers not only how different economic sectors are interconnected but also how sectors within one province are interconnected with sectors in other provinces. According to the findings, the relocation of the capital city increases the Gross Regional Domestic Product (GRDP) of the destination region (KalTim) by a massive amount (22%) while decreasing the GRDP of Jakarta (the old capital) by a moderate amount (7%). However, because the expanding sector is relatively high-skill intensive, it tends to produce skill-biased increases in real wages. As a result, the destination region (Kaltim) undergoes massive structural change as its service sector share increases by 12%, a change historically comparable in two decades. In addition, Kaltim's </span>carbon emission intensity decreases by 18% due to this large-scale tertiarization. The analysis has demonstrated how and to what extent the relocation of Indonesia's capital city may help the province diversify from a natural resource-intensive economy to a more service-oriented and low-carbon economy.</span></p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"68 ","pages":"Article 101212"},"PeriodicalIF":1.3,"publicationDate":"2023-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49700432","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

Unconventional monetary policy and the bond market in Japan: A new Keynesian perspective 日本非常规货币政策与债券市场:一个新的凯恩斯主义视角

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-09-01 Epub Date: 2023-07-13 DOI: 10.1016/j.japwor.2023.101207

Parantap Basu , Kenji Wada

引用次数: 0

A note on conglomerate mergers: The Google/Fitbit case 关于企业集团合并的一个注记：Google/Fitbit案例

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-09-01 Epub Date: 2023-06-28 DOI: 10.1016/j.japwor.2023.101203

Akihiko Nakagawa , Noriaki Matsushima

引用次数: 0

Evaluation of fiscal policy using alternative GDP data in Japan 用替代GDP数据评价日本财政政策

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-09-01 Epub Date: 2023-06-27 DOI: 10.1016/j.japwor.2023.101204

Shin-ichi Fukuda

{"title":"Evaluation of fiscal policy using alternative GDP data in Japan","authors":"Shin-ichi Fukuda","doi":"10.1016/j.japwor.2023.101204","DOIUrl":"10.1016/j.japwor.2023.101204","url":null,"abstract":"<div><p>In macroeconomics, the effectiveness of fiscal policy is an old, but new controversial question that has been debated for many years. The controversy naturally arises if analytical frameworks, sample periods, or targeted countries are different. However, it sometimes arises, even when using similar analytical frameworks and sample periods. The purpose of this study is to explore whether revisions to the GDP data series are a source of the controversy in Japan. Since the mid-1990s, the Japanese economy has remained stuck in a liquidity trap where interest rates have fallen to zero. However, not only has the cumulative fiscal deficit increased to an unprecedented level, but many structural problems have also emerged. Under these circumstances, it is unclear whether the fiscal policy has worked effectively in the Japanese economy. When a reduced-form equation or VAR model was estimated, the empirical findings were quite different depending on GDP benchmark year we used in the analysis. When benchmark year 2011 was used, fiscal expenditure was effective under ultralow interest rates. In contrast, when benchmark year 2015 was used, it was not effective, especially since around 2010, even under ultra-low interest rates. This implies that in Japan, the effectiveness of fiscal policy must be carefully interpreted, noting which GDP benchmark year is used in the analysis.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"67 ","pages":"Article 101204"},"PeriodicalIF":1.3,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48859586","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

Relevant markets and market power of mobile apps 移动应用程序的相关市场和市场力量

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-09-01 Epub Date: 2023-08-06 DOI: 10.1016/j.japwor.2023.101209

Kohei Kawaguchi , Toshifumi Kuroda , Susumu Sato

引用次数: 0

State-dependent effects of the unconventional monetary policy in stock markets 股票市场非常规货币政策的国家依赖效应

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2023-09-01 Epub Date: 2023-08-03 DOI: 10.1016/j.japwor.2023.101208

Toyoichiro Shirota

引用次数: 0

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 Epub Date: 2023-07-11 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 Epub Date: 2023-06-29 DOI: 10.1016/j.japwor.2023.101205

Khaliun Dovchinsuren

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 Epub Date: 2023-04-14 DOI: 10.1016/j.japwor.2023.101192

Yasuyuki komaki

引用次数: 1