Japan and the World Economy最新文献_第8页

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

Traveling and eating out during the COVID-19 pandemic: The Go To campaign policies in Japan COVID-19大流行期间的旅行和外出就餐:日本的Go To运动政策

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2022-12-01 DOI: 10.1016/j.japwor.2022.101157

Toshihiro Okubo

引用次数: 8

Transportation infrastructure and trade 交通基础设施和贸易

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2022-12-01 DOI: 10.1016/j.japwor.2022.101162

Zheng Han , Hongtao Li

引用次数: 2

FDI, ownership structure, and productivity 外商直接投资、股权结构与生产率☆

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2022-12-01 DOI: 10.1016/j.japwor.2022.101158

Tadashi Ito , Ayumu Tanaka

引用次数: 0

FX swaps and forwards in global dollar debt: “Known knowns” and “known unknowns” 全球美元债务的外汇掉期和远期交易:“已知的已知”和“已知的未知”

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2022-12-01 DOI: 10.1016/j.japwor.2022.101160

Patrick McGuire

{"title":"FX swaps and forwards in global dollar debt: “Known knowns” and “known unknowns”","authors":"Patrick McGuire","doi":"10.1016/j.japwor.2022.101160","DOIUrl":"10.1016/j.japwor.2022.101160","url":null,"abstract":"<div><p>Several types of FX derivatives involve the exchange of principal, making them a form of collateralised loan. But unlike other forms of collateralised borrowing, the payment obligations associated with such derivatives are not reported on the balance sheet: they are in a very real sense “missing debt”. This introduces gaps in the compilation of countries’ and sectors’ foreign currency positions, in particular their short-term US dollar obligations and receipts. When economic shocks occur, policies designed to restore the flow of dollar liquidity outside the United States (eg central bank swap lines) are blind to the scale of dollar liquidity needs in particular locations. This paper presents evidence that the missing dollar debt of banks and non-banks outside the United States is large, roughly double the dollar debt recorded on their balance sheets. It then reviews how well benchmark statistical collections – BIS international banking statistics (IBS), BIS OTC Derivatives (OTCD) statistics, International Investment Position (IIP) statistics, and the Coordinated Portfolio Investment Survey (CPIS)) – capture foreign currency positions, both on- and off-balance sheet, and where modifications to these statistics could help to close data gaps.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"64 ","pages":"Article 101160"},"PeriodicalIF":1.3,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41499583","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

Looking from Gross Domestic Income: Alternative view of Japan’s economy 从国内总收入看日本经济

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2022-12-01 DOI: 10.1016/j.japwor.2022.101159

Toshitaka Sekine

引用次数: 0

On expenditure/income discrepancies in national accounts in the presence of two price units 关于存在两个价格单位的国民账户中的支出/收入差异

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2022-12-01 DOI: 10.1016/j.japwor.2022.101161

Makoto Saito

{"title":"On expenditure/income discrepancies in national accounts in the presence of two price units","authors":"Makoto Saito","doi":"10.1016/j.japwor.2022.101161","DOIUrl":"10.1016/j.japwor.2022.101161","url":null,"abstract":"<div><p><span>This paper demonstrates that expenditure/income discrepancies appearing in national accounts<span><span> are caused partly by the nominal distortion due to the presence of two price units, and partly by the real distortion due to the mismeasurement of expenditure items. In addition, it investigates how such statistical discrepancies reveal potentially important information about various informal, though not necessarily illegal, economic activities, which are not grasped fully by statistical or tax authorities in a central government. Three cases are explored in detail. First, after-consumption-tax prices are mixed with before-consumption-tax prices in aggregating expenditures. Second, black-market prices coexist with official prices in a heavily controlled economy. Third, prices are quoted in not only a conventional currency unit, but also a more valuable </span>cryptocurrency unit; however, the latter unit is still evaluated one to one with the former. Unlike in macroeconomic disequilibrium models, statistical discrepancies are not </span></span><em>ex ante</em> concepts, but they actually occur <em>ex post</em>. This paper examines how <em>ex post</em><span> excess demand/supply within the formal economy, resulting from such discrepancies, is adjusted by monetary and nonmonetary interactions with the informal or underground economy.</span></p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"64 ","pages":"Article 101161"},"PeriodicalIF":1.3,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41658109","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

Initial funding and founders’ human capital: An empirical analysis using multiple surveys for start-up firms 初始融资与创始人人力资本:基于创业公司多重调查的实证分析

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2022-09-01 DOI: 10.1016/j.japwor.2022.101145

Yuji Honjo , Charee Kwak , Hirofumi Uchida

引用次数: 0

Impact of career education on high school students’ occupational choice: Evidence from a cluster-randomized controlled trial 职业教育对高中生职业选择的影响:来自聚类随机对照试验的证据

IF 1.3 4区经济学

Japan and the World Economy Pub Date : 2022-09-01 DOI: 10.1016/j.japwor.2022.101146

Ryosuke Moriyasu , Toru Kobayashi

{"title":"Impact of career education on high school students’ occupational choice: Evidence from a cluster-randomized controlled trial","authors":"Ryosuke Moriyasu , Toru Kobayashi","doi":"10.1016/j.japwor.2022.101146","DOIUrl":"10.1016/j.japwor.2022.101146","url":null,"abstract":"<div><p>What influence does career-relevant information have on occupational choices? This study analyzes changes in career preferences related to the provision of career-relevant information through a cluster-randomized controlled trial with students at a rural Japanese high school. We examined the potential effects of two types of information, including an information regarding impact of technological innovation on labor markets program (the “ICT-AI Impact on the Labor Market” program) and an information regarding how to deepen “self-understanding” (the “self-understanding” program). The results reveal that the ICT-AI Impact program did not induce statistically significant shifts in students’ occupational choices. By contrast, the self-understanding program shifted students’ occupational choices regarding professional occupations such as educational, medical, and legal professions. Our findings indicate that career-relevant information provision can be an effective policy tool in the labor market because the provision can support students’ occupational choices.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"63 ","pages":"Article 101146"},"PeriodicalIF":1.3,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0922142522000317/pdfft?md5=28f9ef2cd92896de3f5746ae241ccb8b&pid=1-s2.0-S0922142522000317-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44529144","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: 3