The telephone system was not sufficiently developed in prewar Japan. This study examines the technological development of automatic telephone switchboard (ATS) to clarify the problems of telephone system in prewar Japan. Ministry of Communication(MOC) introduced automatic telephone system in...

The first modern futures market is said to date back to the Chicago Board of Trade established in 1848. However, there existed an older precedent; the Dojima Rice Market established in 1730 in Osaka. The past literature on Dojima has made it clear that Dojima had well-established trading...

This paper applies two recent stated choice survey datasets of Japan to investigate the difference between the latent class model (LCM) and the mixed logit model (MLM) for transport mode choice. A detailed comparison is carried out, focusing on comparing values of time savings, direct choice...

We have seen many cases where the factory system emerges and realizes higher productivity in the process of industrialization. However, also seen in history is that other types of production organization have kept expanding and have reached at some high performance. For instance, the putting-out...

We examine the validity of a new system of taxation called lottery receipts in China theoretically and empirically. Tax collection is difficult as the government difficultly monitors the actual economic dealings. To bring out the private information on transaction known only to a seller and a...

The necessity of applying Cost Benefit Analysis (CBA) in evaluating the validity of a public transport investment is well recognized by policy makers in recent days. Originating in a sense of this fact, we implement CBA in a new project called Osaka Monorail Saito Linefs extension by applying a...

Medical school usually has the highest tuition fees among the university departments. The reason why students pay such expensive fees is that they estimate that their earnings will greatly increase after graduation. We construct a model about student behavior on entering college and estimate the...

This note develops a one-sector, two-period, overlapping generations model that incorporates endogenous labor-care choice. Care choice is modeled by allowing young agents to participate in the production of household health status. Using this model, we derive the steady-state equilibrium dynamics.

This paper constructs a model that describes inflation cycles and prolonged depression as generated by the learning behavior of households who face a random liquidity shock in which money is needed. Households update the subjective probability of the shock based on the observation and change...

The literature maintains the statistical significance of cash flow in the investment equation. One criticism against the financing constraint interpretation of cash flow is that cash flow may be picking up information on the future profitability of a firm which Tobinfs Q fails to capture. We...