Using Japanese prefecture-level data for the years 1979 and 1996, I explore the extent to which inequality, age heterogeneity, and human capital have an effect upon neighborhood trust, which is ordinarily considered as a kind of particularized trust. The major findings are as follows: (1) Income...

In the present paper, the inverted-U shape relationship between growth and inequality found in Chen(2003), is reexamined. We decompose productivity growth into efficiency improvement, capital accumulation and technological progress and then ascertain their determinants by employing a fixed...

This paper examines the cubic form hypothesis and the flying geese pattern hypothesis of income distribution. We use time series data for the Gini coefficients of Korea for 1961-2006 and panel data calculated based on a household income survey for the period 1998-2003. We show; (1) The Korean...

It is shown that the evolution of modern developed societies results into reduction of the role of centralized governance as well as economic and political competition, whereas the role of collaboration mechanisms is growing. This process is supported by cultural changes: increasing trust,...

The purpose of this paper is to study the direction of causality between the stock market and macroeconomic variables. India is taken as a case study. Although, there have been many studies which attempted to find out the relationship between Indian stock market and economic variables, this...

This paper seeks to close the gap of the lack of empirical evidence surrounding the different impact of conventional interest rates on Islamic finance components – Islamic stock markets, Islamic banking and Islamic insurance (called takaful). Such evidence remains imperative in order for the...

Sumo wrestling is a traditional fighting sport in Japan and has been popular since the 18th century (the Edo period). Using a data set for all sumo wrestlers in the post-World War II period, this paper investigates how wrestlers’ body mass index (BMI) is associated with their win rate and...

We develop a dynamic model for analyzing the programs of contractual savings for housing (CSH). We introduce concepts of stability as well as strong and weak stability of trajectories generated by CSH programs, and obtain the necessary and sufficient conditions that guarantee fulfillment of...

The great Hanshin-Awaji (Kobe) earthquake, which occurred in 1995, resulted in tremendous economic damage to the city of Kobe. Using individual-level data of Japan during the period 2000–08, I investigated the long-term impact of the earthquake on the happiness of surviving victims. After...

The Japanese General Social Survey was used to determine how individual preferences for income redistribution are affected by family structure, such as the number of siblings and birth order where individuals grow up. After controlling for various individual characteristics, the important...