Do regional policies for promoting periphery development attract high- or low-productivity firms? Though whether policies improve the core-periphery productivity gap hinges on this question, no consensus is found in theoretical models. This paper uses plant-level data covering all regions in...

This paper studies anti-agglomeration subsidies in a core-periphery setting when firms are heterogeneous in labour productivity, focusing on the effects of a relocation subsidy on firm location in various tax-financing schemes (local versus global). We discuss how a subsidy can enhance welfare...

This paper reports estimates based on long-run data sets for GDP and trade, with three subsamples chosen to reflect the first globalization period, the "bloc economy" period and the second globalization period. The business cycle is identified as the series of deviates from a Hodrick-Prescott...

We quantify dynamic effect of shifts of exchange rate system from the dollar-peg to the basket- peg or floating and obtain transition paths for the shifts, based on a dynamic small open-economy model. We find that a small open country will be better off shifting to the basket-peg or floating...

This paper compares two policies: trade cost reduction and firm relocation cost reduction using a three-country version of a heterogeneous-firms geography and trade model, where the three countries have different market (population) sizes. We show how the effects of the two policies differ, in...

Purposes of this paper are to establish the model for explaining Japanese young's housing demand and to derive the implication to guide Japanese housing policy. For this, I investigate the determinants of their tenure choice, considering their housing independence from their parents. On the...

Inspired by the observed contrasting patterns of geographical distribution of the electric machinery industry in East Asia and Europe, this paper conducts an empirical clarification of the difference in spatial relationships in the industry sizes among countries within a region by use of spatial...

This study attempts to measure the welfare gain caused by new retailer entries. In Japan, following the deregulation of entry restriction on large-scale retail stores, specialty supermarket stores, and convenience stores expanded their market share. We estimate the consumer benefit by...

The Japanese economy faces a number of difficult economic problems to solve; declining working-age population, long-term deflation, monetary policy with zero-interest rate floor, and a large budget deficit. In this paper, we propose a few macro-economic measures to raise taxes without hurting the...

In this paper, we estimate relationship between spousal correlation of addictive behavior. Among others, we focus on smoking and drinking using Keio Household Panel Survey (KHPS). Our findings are summarized as follows. First, controlling various households' and individuals' characteristics, we...