Recursos de colección

Hokkaido University Collection of Scholarly and Academic Papers (130.615 recursos)

HUSCAP (Hokkaido University Collection of Scholarly and Academic Papers) contains peer-reviewed journal articles, proceedings, educational resources and any kind of scholarly works of Hokkaido University.

Series A

Mostrando recursos 1 - 20 de 34

  1. Evaluating the Unconventional Monetary Policy in Stock Markets : A Semi-parametric Approach

    Shirota, Toyoichiro
    This study analyzes the effect of a central bank’s intervention in stock markets, while allowing for nonlinearities and state dependencies, using a semi-parametric approach. A causal inference on such intervention is difficult because of the selfselective behavior of central banks. To address these problems, we apply the propensity score method in a time series context, exploiting stock price information of a single day. We find that first, there are demand pressure effects in stock markets if an intervention is large enough. Second, the effects are state-dependent and stronger during market downturns. Finally, a central bank’s interventions have a considerable impact...

  2. An Analysis of Peer Effects on Vaccination Behavior Using a Model of Privately Provided Public Goods

    Itaya, Jun-ichi; Ibuka, Yoko; Miyazato, Naomi
    Traditional economic models of vaccination behavior simply assume that agents free-ride on the vaccination decisions of others. We provide three different models of private provision of a public good, such as a joint production model and a conjectural variation model, to explain how a positive peer effect regarding vaccination behavior arises. We conduct two empirical studies using Japanese data in these models. The first empirical analysis, using a data set on the vaccination behavior of neighbors residing in the same block of a city, finds the existence of positive peer effects on individuals' vaccination decisions. The second empirical analysis also...

  3. Social Capital and the Status Externality

    Itaya, Jun-ichi; Tsoukis, Chris
    This paper investigates how the presence of social capital affects the externality arising from status-seeking preference as a parable for inefficient antagonistic behavior. It is assumed that the stock of social capital is accumulating through joint social interaction between rational individuals who are forward looking. Using a differential game, we show that although the presence of social capital mitigates the tendency of overconsumption over time, social capital ends up declining to zero. It is also shown that the benefits from social capital enhance the motivation of individuals to accumulate social capital thereby leading to deter overaccumulation and thus possibly improving...

  4. Not All Exchange Rate Movements Are Alike : Exchange Rate Persistence and Pass-Through to Consumer Prices

    Shirota, Toyoichiro
    This study develops a framework to identify persistent and transitory shocks in exchange-rate movements and to estimate the shock-specific exchange-rate pass-through to domestic prices. The framework combines a dataset of a long time series of exchange-rate forecasts since the 1980s with a range restriction that is a natural generalization of the standard sign restriction. The empirical results show that exchange rate pass-through is higher when a persistent shock dominates exchange-rate movements. The composition of persistent and transitory shocks varies over time. This study asserts that time variations of exchange rate pass-through are at least partly attributable to differences in shock-specific...

  5. Alternative Objectives in an Oligopoly Model : An Aggregative Game Approach

    Itaya, Jun-ichi; Cornes, Richard
    A rapidly growing literature analyzes models in which firms maximize objectives other than profit and enjoy market power. Examples include the labor-managed firm, mixed oligopoly, and delegation models. These models typically retain the aggregative structure of the conventional Cournot model of imperfect competition. We exploit this fact and apply the framework recently developed by Cornes and Hartley (2005, 2011) to analyze the properties of the equilibrium in such games. We show that existing treatments often make more restrictive assumptions than necessary to generate their results. Specifically, we identify conditions sufficient to ensure the existence of a unique equilibrium, and we...

  6. Rational Theory of Information Security Battle: Economic Analysis of Preemptive Behavior

    Goto, Makoto; Tatsumi, Ken-ichi
    We develop a model of a zero-sum information security game by introducing a reward function (called P-function) for cyber attackers into the models of Gordon and Leob (2002) and Tatsumi and Goto (2010). Then the preemptive behavior of cyber attackers or defenders is analyzed. The derivation of the optimal behavior is based on a real options theory and the properties are numerically calculated. Through our numerical analysis cyber attackers are turned out to be rational in the sense that they are very sensitive and quickly respond to both the monetary gain that they will obtain and the vulnerability of defenders. We...

  7. Current Status and Issues of Coworking Spaces in Japan

    Abe, Tomokazu; Uda, Tadashi
    The purpose of this paper is to clarify the actual condition of coworking spaces in Japan, based on a questionnaire survey. A way of working called "coworking" and a place for such work called "coworking space" have been attracting attention in recent years because they may provide a more flexible work style, diverse members to interact with, and open spaces than are experienced when working in a specific company or corporate office. However, we still have not acquired the whole picture of coworking and coworking spaces because of insufficiency of the comprehensive research. Thus, we attempt to shed some light...

  8. On the convergence in female participation rates

    Abe, Yukiko
    Large regional differences exist in female participation across regions within Japan. This paper uses two datasets to show that a significant convergence in female participation occurred from 1940 to 2010. Historically, female participation has been low in urban areas and high in non-urban areas. The participation rate steadily and significantly increased in urban areas and, to a lesser extent in non-urban areas, and thus regional differences shrank over time. Microdata from 1982 to 2012 reveal that regional dispersion is large for married women’s regular full-time participation in the traditional sectors (manufacturing for the less educated and teaching for the highly...

  9. A Correlation Analysis of the Questionnaire Survey on Coworking Spaces in Japan

    Abe, Tomokazu; Uda, Tadashi
    The purpose of this paper is to analyze correlations about the actual condition of coworking spaces in Japan, based on a questionnaire survey. A way of working called "coworking" and a place for such work called "coworking space" have been attracting attention in recent years because they may provide a more flexible work style, diverse members to interact with, and open spaces than are experienced when working in a specific company or corporate office. However, the understanding of this phenomenon is insufficient. There is still hardly any empirical research that discusses the actual conditions of coworking and coworking spaces especially...

  10. Should income inequality be praised? Multiple public goods provision, income distribution, and social welfare

    Itaya, Jun-ichi; Mizushima, Atsue
    We investigate how income inequality affects social welfare in a model of voluntary contributions to multiple pure public goods. Itaya, de Meza, and Myles (1997) show that the maximization of social welfare precludes income equality in a single pure public good model. In contrast, we show that the result of Itaya et al. may not be valid in a case of multiple voluntarily supplied public goods; specifically, we show that not only an income inequality-raising redistribution policy but also an income-equalizing one may raise social welfare. We also show that if altruistically motivated voluntary transfers are allowed, an inequality-raising redistribution...

  11. A Descriptive Statistics on Coworking Spaces in Japan

    Uda, Tadashi; Abe, Tomokazu
    This paper aims to shed light on the actual condition of coworking spaces in Japan based on a questionnaire survey. A way of working called "coworking" and a place for such work called "coworking space" have been attracting attention in recent years because they may provide a more flexible work style, diverse members to interact with, and open spaces than are experienced when working in a specific company or corporate office. However, the understanding of this phenomenon is insufficient. Therefore, in this paper we will first review coworking studies with a focus on the annual Global Coworking Survey conducted around...

  12. Invention and Development : Toward Schumpeter's early innovation theory

    KOBAYASHI, Daisuke
    It has been the consensus among researchers that Schumpeter clearly distinguished the notions of innovation and invention, even neglecting the notion of invention in his work. Consequently, there has been very little effort made to tackle the relationship between Schumpeter’s development theory and the invention theories that were popular in the fields of anthropology and archaeology at that time, making it difficult to grasp how Schumpeter elaborated his own development theory. However, a close examination of his early works demonstrates that Schumpeter’s development theory can also be understood in the context of the debates surrounding the notion of invention. In Theorie...

  13. Industrial Location and North-South Trade in Vertically-linked Industries

    Kurata, Hiroshi; Nomura, Ryoichi; Suga, Nobuhito
    This study clarifies how a reduction in trade costs affects location and economic welfare in an economy with a vertically-linked industry. We focus on location in upstream and downstream sectors and economic welfare for a reduction in trade costs for intermediate goods. We show that the reduction in trade costs makes upstream and downstream production in the North move to the South, and further liberalization makes some of the upstream productions remove back to the North. We also demonstrate that such reduction in trade costs improves world welfare but does not necessarily benefit for each country.

  14. Does Endogenous Timing Matter in Implementing Partial Tax Harmonization?

    Itaya, Jun-ichi; Yamaguchi, Chikara
    The endogenous timing of moves is analyzed in a repeated game setting of capital tax competition, where a subgroup of countries implementing partial tax harmonization and outside countries choose whether to set capital taxes sequentially or simultaneously. It is shown that the simultaneous-move outcome prevails in every stage game of the infinitely repeated tax-competition game as its subgame-perfect Nash equilibrium (SPNE) if a taxunion consists of similar countries, whereas both the simultaneous-move and sequentialmove (Stackelberg) outcomes can be sustained as SPNEs when a tax-union consists of dissimilar countries. This is in sharp contrast with the finding of Ogawa (2013). In...

  15. Dynamics of the Comparative Advantage Structure and their Differences between Goods and Services

    Hisanaga, Makoto
    This study investigates state transitions of the comparative advantage structures by use of a Balassa index and one of the applicative methods of the stochastic process. The analytical framework consists of estimating non-parametrically the initial distribution of the transition probability matrix (TPM) that is well known as Markov matrix, evaluating the mobility, which means the degree of structural change in the analysis, of the initial distributions, and computing numerically the limit distributions of the TPM. The analysis also attempts to improve methods of the existing studies, and proposes a new evaluation index. Results of a series of analyses based on...

  16. Mine safety and Industrial accidents at the Générale des Carrières et des Mines, in Katanga, Democratic Republic of Congo

    Kalenga, John Ngoy
    This paper focuses on the workplace accidents of Gecamines in a comparative perspective. Copper industry has been the cornerstone of Congolese economy since the colonial era. Katanga province is well known for its reserves of copper and cobalt. Many accidents occurred in mining operations of Gecamines. We collected data of accidents from 1957 to 2008 during the fieldwork at Gecamines. Data of this study included only the accidents that required the miner to be absent from work for at least four calendar days. This study aims to determine factors of the accidents at Gecamines in order to suggest the policy...

  17. On equilibrium existence theorem based on an infinite dimensional Gale-Nikaido Lemma

    Kubota, Hajime
    This paper considers several versions of the infinite dimensional Gale-Nikaido lemma and establishes the existence of competitive equilibrium in a simplified Bewley(1972)’ economy with l∞ as the commodity space with applying an infiinite dimensional Gale-Nikaido Lemma obtained in this paper.

  18. Economic System and Transition Mode : A Comparative Research on Transition Economies

    Yang, Liu
    This passage mainly deals with the problem of why different transition countries have different transition mode and different economic performance. According to this research, it has been found that the economic system of the traditional socialist countries played an important role in their process of reform and transition. The socialist countries with their different economic systems had determined the economic performance, the space, as well as the environment of the transition. All of this jointly formed the initial conditions of the transition, which further determined the different transition mode of the (post) socialist countries. The success or failure of internal...

  19. Trade Structure and Growth Effects of Taxation in a Two-Country World

    Amano, Daisuke; Itaya, Jun-ichi; Mino, Kazuo
    This paper explores the long-run impacts of tax policy in a two-country model of endogenous growth with variable labor supply. We focus on international spillover effects of tax reforms under alternative trade structures. It is shown that if the instantaneous utility function of the representative family in each country is additively separable and if international capital mobility is absent, then a change in taxation in one country does not directly affect capital formation in the other country. Such a conclusion is fundamentally modified if international borrowing and lending are allowed. Due to free financial flows, a change in tax policy...

  20. Transfer Arrangement, Labor Migration and Community Welfare

    Yamada, Daichi
    An informal transfer arrangement within a community redistributes incomes. While this may improve the welfare by mitigating the income inequality, it will also a ect households’ decisions on labor migration, a way to expand incomes. This paper theoretically examines the transfer arrangement that maximize the community welfare, taking into account its e ect on endogenous labor migration decisions. The result shows that the welfare is maximized when the redistribution through transfer is limited. It also presents an alternative explanation for empirical findings of limited transfer arrangement.

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