In DEA we are often puzzled by the big difference in CRS and VRS scores, and by the convex production possibility set syndrome in spite of the S-shaped curve often observed in many real data. In this paper we perform a challenge to these subjects.

The international statuses of currencies shape a fundamental characteristic of the international monetary system, which has significant impacts on the world political economy by affecting the political as well as economic relationships among states. The study of international currencies has been...

We used 1995-2000-2005 linked input-output (IO) tables for Japan to examine estimation errors of updated IO tables and the resulting prediction errors in computable general equilibrium (CGE) analysis developed with updated IO tables. As we usually have no true IO tables for the target year and...

While there are scores of excellent studies on failed industrial policies, studies of successful cases of industrial development are much fewer. This paper reports a case study of the successful development of the pharmaceutical industry in Bangladesh and the critical roles played by the...

Managerial capital has received attention in recent years as one of the major determinants for enterprise productivity, growth, and longevity. While recent empirical studies make it clear that training intervention can improve the management level, it remains unclear why the managers had not...

Since National and public research and development institutions, including those that are set up under the Act on General Rules for Independent Administrative Agency, are funded by taxation, they are in-creasingly required to contribute research outcomes to society. Society’s needs for...

An option-theoretic model of suicide in the continuous time framework is proposed. Given completeness of the financial market and the associated contingent claim argument, the value of human capital consistent with the no-arbitrage principle is determined as the expected, discounted, present...

We develop a new distance-based test of localized knowledge spillovers that embeds the concept of control patents. Using microgeographic data, we identify localization distance for each technology class while allowing for spillovers across geographic units. We revisit the debate by Thompson and...

Historical data of system prices over 48 half-hour intra-daily intervals in the Japan Electric Power Exchange (JEPX) are analyzed. Given theoretical and graphical preliminary analysis, we extract measures of the spread between the efficient price and actual transaction price for each month from...