The Economics of Information Agglomeration -- Technology Information Sharing -- Initiative for Relation-Specific Skills -- Automobile Electronics and Capital Adjustment Costs -- Legal Enforcements for Competition Policy.

This book theoretically and empirically investigates the emergence of strong money demand in wartime Japan (1937-1945), its disappearance after the end of the war (1945-1949), and the reemergence of strong money demand in contemporary Japan (from 1995 to the present) in terms of the effects on...

This paper investigates how interest rates on liquid assets and excess returns on risky assets are determined when only safe assets can be used as liquid assets when waiting for an informative signal of future payoffs. In particular, we carefully differentiate between a demand for liquid assets...

This paper claims that a scarcity of profitable private investment opportunities starting in the early 1990s or even earlier is a fundamental cause of Japan's prolonged economic stagnation during the 1990s and early 2000s. It presents evidence that the economy has been largely at a private...