This article examines the choice of health care in Japan by patients suffering from the common cold. Original data were obtained from a survey conducted by the authors. Empirical results show that the price elasticity of demand for medical services is between 0.23 and 0.36. This estimated price...

Based on a panel data set of Japanese manufacturing firms in research-intensive industries, we investigate quantitatively the extent to which debt outstandings in the 90s affected the firm’s R&D activities. We find that massive debt outstandings had significantly negative effect on R&D...

Classified broadly, two motives for intra-family transfers exist: altruism and selfishness. This paper examines two selfish hypotheses − the exchange motive (strategic bequest motive)and the demonstration effect − using a new Japanese micro data set. My analysis of the determinants of...

Despite the objection of the Bush administration to the U.S.’s ratification of the Kyoto Protocol, its entry into force has come to be realistic due to the Bonn Agreement in July. The purpose of this paper is first to survey the framework of the Protocol, and then to analyze the strategic...