Leisure satisfaction is positively associated with quality of life (QOL), more specifically, subjective QOL, which is often expressed as happiness. Compared to industrial nations in North America and Europe, however, significantly less is known about Asian nations. The purpose of this study is...

Howard Wach tel and Peter Adelsheim_(1977) and Keith Cowling_(1983) have argued that firms in concentrated industries tend to increase their price mark-ups in recession. This hypothesis is variously tested for Japanese manufacturing industries in 1958-82. Most of the results weakly suggest an...

This paper studies the impact of the portfolio constraint imposed by the consumption demand for housing (the 'housing constraint') on the household's optimal holdings of financial assets. Since the ratio of housing to net worth declines as the household accumulates wealth, the housing constraint...