This paper examines the effects of Japanese fiscal policy after the 2008 global financial crisis using a mixed vector autoregression/event study approach. We focus on the effects of stimulus packages with environmental benefits. The empirical results show that a tax break and subsidy program...

When governments levy taxes on labor income on the basis of a balanced budget rule, two steady states in an economy exist, which can cause two movement patterns, namely, indeterminacy paths and a saddle path. Many economists deal with this issue based on indivisiblelabor. On an general...

In this paper we consider a regression model and propose estimators which are the weighted averages of two estimators among three estimators; the Stein-rule (SR), minimum mean squared error (MMSE) and the adjusted minimum mean squared error (AMMSE) estimators. We derive the formula for the mean...

In this paper, we investigate Grangerfs causality among the exchange rate, Tobinfs marginal q, and investment-capital ratio with quarterly data on firms categorized small and medium-sized enterprises (SMEs) in Japan. We utilize the data of following industries: chemical, iron and steel,...

The paper constructs a general equilibrium model model where the rate of technical progress and the distribution of R&D expenditure by heterogeneous research firms are simultaneously determined. Using the model, we explore the effects of the following policy measures on those two endogenous...

This study investigates the market for traditional dress in Japan in the second half of the 20th century. The textile industry has been regarded as a gdecliningh or mature industry in Japan since around the 1970s, and imports from developing countries with lower wages have increased rapidly....

The production of simple silk fabric, called habutae or habutai, expanded rapidly from 1890 to the end of the 1910s in Fukui prefecture, and it was exported to Europe and the U.S. Habutae was initially woven by hand looms in cottage enterprises and, hence, its production was labor intensive. It...