In this paper, we develop an endogenous growth model with two coun- tries in which the international trade of differentiated goods requires dif- ferent trade costs and equilibrium wages in the two countries. If the labor productivity in one country's agricultural sector is higher than that of...

The Bank of Japan adopted the Quantitative Easing (QE) Policy from March 2001 to March 2006. This paper investigates whether or not this QE had an effect in stimulating real economy in Japan. The identification of policy effect in the above Japanese case enables us to evaluate indirectly the...

With the data of 831 Japanese water utilities from 1999 to 2008, we used the stochastic cost frontier analysis with a true fixed-effect model in order to estimate the cost efficiency and scale economies. We found that cost inefficiency was approximately 37%. The economies of water delivery...

This paper presents a welfare analysis of free entry equilibrium in dynamic general equilibrium environments with oligopolistic competition. First, we show that a marginal decrease in the number of firms at the free entry equilibrium improves social welfare. Second, we show that if a government...

This paper develops a simple search model in which sector-specific trainings are endogenously determined with or without a negotiation between a worker and an employer, and characterizes the allocation of two types of training. If a worker and an employer can negotiate over the amount of skill...

Recently, as low birth rates and the aging of society have intensified, considerable analysis is being conducted using overlapping generations models with endogenous birth rates. However, most previous studies have assumed full employment. Since it is the case that unemployment does exist in...

The objective of this paper is to contribute to a better understanding of the comeback of the Swiss watch industry on the world market since the end of the 1980s. It focuses on the Swatch Group (SG), currently the worldfs biggest watch company. In 1983, the merger of the largest watch group...

This paper analyzes tariff competition by investigating the strategic interactions among firms that are highly mobile across national boundaries. Although high transport costs yield a geographic dispersion of the industry, sufficiently low transport costs result in a core-periphery location...

This paper analyzes an endogenous choice problem with regard to tax instruments in a capital tax competition model. Considering a symmetric and two-region model of tax competition, where each region is allowed to choose either unit or ad valorem tax, we show that selecting unit tax as a policy...

This paper investigates the decision-making of a firm that has an option to invest in a single project among multiple alternatives. This type of option is called a maxoption, and the nature of a max-option has been investigated in several papers. I extend the previous analysis to a model that...