This study empirically investigates whether the tax differentials between home and host countries differently affect multinationals' foreign investment and profit shifting decisions under contrasting international tax systems. In particular,we compare these differential tax effects between...

In this article, I test both the real and the financial frictions in the Japanese firm investments using structural approach. The real represents the nonconvex capital adjustment costs, and the financial means the financing constraints. These two factors have been studied for a long time, but...

Depletion of water resources requires us to search for non-conventional strategies for water preservation and irrigation. Sustainable management of such water resources along with the development of sustainable irrigation systems will contribute to the stability of agricultural yield that is a...

In this paper, we propose a statistical index of industrial localization based on Kullback-Leibler divergence. This index is particularly well suited to cases where industrial data is only available at the regional level. Unlike existing regional-level indices, our index can be employed to test...

This paper analyzes repeated games in which it is possible for players to observe the other players' past actions without noise but it is costly. One's observation decision itself is not observable to the other players, and this private nature of monitoring activity makes it difficult to give...

The desolate desert in Afghanistan's Kandahar and Helmand Provinces was previously populated by thousands of pastoralists until a devastating drought decimated animal herds and forced them to live as IDPs (Internally Displaced Persons) on land bordering the desert. Through funding from UNAMA...

The purpose of this paper is to decompose income inequality based on two different dimensions in nature. One is sample's personal characteristics, and the other is income sources. Empirical investigation is attempted to data in Japan. Although there are several studies which attempted...

There are several judicial cases under the US environmental law, in which a lending bank is liable for cleaning up environmentally hazardous materials generated by its borrowing firm. Such a liability rule, so-called lender liability, is applied to a lending bank which has been actively involved...

This paper focuses on the drastic increase observed in the Japanese male suicide rate in the late 1990s and early 2000s and confirms unemployment and personal bankruptcy to be the associated socioeconomic factors behind the male suicide variation. Personal bankruptcy is also confirmed to be...

A univariate real-valued function is said to be completely monotone if it takes positive values and alternate the signs of its higher order derivatives, starting from everywhere negative first derivatives. We prove that the representative consumer's discount factor of a continuous-time economy...