We construct a continuous-time overlapping-generations model with labor market friction in order to examine the relationship between bubbles, economic growth, and unemployment. We show that the existence of bubbles is contingent upon the equilibrium unemployment rate. Asset bubbles can (not)...

This study investigates the market for traditional dress in Japan in the second half of the 20th century. The textile industry has been regarded as a gdecliningh or mature industry in Japan since around the 1970s, and imports from developing countries with lower wages have increased rapidly....

This paper examines the influences of policy duration effects and quantitative monetary easing policy (QMEP) implemented by the Bank of Japan from 2001-2006 on economic growth toward future periods. We employed a simple equation with the term spread explaining economic growth, and obtained the...

In this paper, we verify the predictability of marginal q on rms' capital invest- ments. We compare Granger's causality of four manufacturing industries with the LA-VAR model and Vector Error Correction Model(VECM). We obtain the empirical results that the null hypothesis of no Granger's...

This paper examines the effect of the aggravated male employment environment on female marriage behavior in Japan. Using extensive individual data from Japanfs Employment Status Survey, I conduct an empirical analysis on the effect of increase in the male irregular employee rate, in terms of...

The production of simple silk fabric, called habutae or habutai, expanded rapidly from 1890 to the end of the 1910s in Fukui prefecture, and it was exported to Europe and the U.S. Habutae was initially woven by hand looms in cottage enterprises and, hence, its production was labor intensive. It...