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Von neumann facets and the dynamic stability of perfect foresight equilibrium paths in neo-classical trade models
In: Journal of economics, Band 51, Heft 1, S. 27-69
ISSN: 1617-7134
Welfare aspects of the transfer problem
In: Journal of international economics, Band 15, Heft 3-4, S. 277-289
ISSN: 0022-1996
Idiosyncratic Information and Vague Communication
In: American political science review, Band 115, Heft 1, S. 165-178
ISSN: 1537-5943
This study explores why, at critical moments, governments may withhold vital information from the public. We explain this phenomenon by what we call idiosyncratic events, or events independent of the information receiver's state-contingent payoff functions. Idiosyncratic events often influence the receiver's belief on the sender's performance. If such events are correlated with the events determining the payoff functions, the sender may withhold information so as to improve his image. This result may be applied to the manipulation of information regarding a number of recent real-world phenomena, including the Fukushima nuclear accident in 2011 and the ongoing outbreak of COVID-19.
Participation of Ordinary Investors and Stock Market Quality: A Comparison between Japanese and US Markets
In: Pacific economic review, Band 19, Heft 5, S. 537-558
ISSN: 1468-0106
AbstractThis study investigates the quality of Japanese and US stock markets from the viewpoints of efficiency and fairness. We design a new Internet survey and develop a simple model that can quantitatively explain stock market quality by those data. Our estimation shows that the Japanese stock market is of lower quality with respect both to efficiency and fairness than the US stock market. This suggests that the quarter‐century‐long stagnation of the Japanese economy since the early 1990s might be attributable to the lack of high quality stock markets in Japan.
Introduction to the Special Issue of Pacific Economic Review on Capital Movements, Fragmentation, and Market Quality
In: Pacific economic review, Band 18, Heft 5, S. 559-560
ISSN: 1468-0106
EDITORIAL
In: Pacific economic review, Band 16, Heft 5, S. 537-537
ISSN: 1468-0106
Network externalities, discrete demand shifts, and submarginal‐cost pricing
In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 39, Heft 2, S. 455-476
ISSN: 1540-5982
Abstract. The introduction of a new product often causes a massive (discrete) demand shift to the new product. This study demonstrates that if a large‐scale demand shift to a new product is accompanied by network externalities, it may result in 'submarginal‐cost pricing,' by which the seller sets its price below the marginal cost. This finding casts new light on dumping and safeguard issues in the real world. JEL classification: D42
Non-Linearity and Business Cycles in a Two-Sector Equilibrium Model: An Example with Cobb-Douglas Production Functions
In: Lecture Notes in Economics and Mathematical Systems; Nonlinear and Convex Analysis in Economic Theory, S. 231-245
Social capital as a public good and an oscillatory behaviour
In: Ricerche economiche, Band 48, Heft 3, S. 185-193
ISSN: 0035-5054
Aid, Nontraded Goods, and the Transfer Paradox in Small Countries
In: American economic review, Band 89, Heft 3, S. 431-449
ISSN: 1944-7981
This paper constructs a model of the transfer paradox for a small open economy with nontraded goods. It demonstrates that increased production of nontraded goods can change their domestic price so as to offset the otherwise beneficial effect of aid and, under certain conditions, to create a transfer paradox even in a small country. The model is estimated with time-series data for 44 aid-dependent countries for the period 1970–1990. The results support the model and show that the nontraded goods expansion effect is more likely to cause immiserization than Johnson's tariff-distorting export-displacement effect. (JEL F0, O1)
Nonlinear dynamics in equilibrium models: chaos, cycles and indeterminacy : selected papers of Kazuo Nishimura
Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory, illuminating dynamics and demonstrating the possibility of endogenous economic fluctuations. Kazuo Nishimura's seminal contributions on business cycles, chaotic equilibria and indeterminacy have been central to this development, transforming our understanding of economic growth, cycles, and the relationship between them. The subjects of Kazuo's analysis remain of fundamental importance to modern economic theory.
PRIVATE DEFENSE OF INTELLECTUAL PROPERTIES AND ECONOMIC GROWTH
In: International journal of development and conflict: (IJDC), Band 1, Heft 3, S. 355-364
ISSN: 2010-2704
Chapter 21 Competition Policy as a Substitute for Tariff Policy
In: Frontiers of Economics and Globalization; Contemporary and Emerging Issues in Trade Theory and Policy, S. 397-415
Socio-Life Science and the COVID-19 Outbreak: Public Health and Public Policy
In: Economics, Law, and Institutions in Asia Pacific
In: Springer eBook Collection
SARS-CoV-2 variants: Past, present and future -- COVID-19 pandemic and behavioral change: The cases of Florida and Ohio -- Integrating social sciences to mitigate against covid -- Re-thinking the infodemic: Social media and offline action in the COVID-19 pandemic -- Mapping COVID-19 in Japan and greater Tokyo area, socio-spatial and political analysis of the epidemic -- Application of SARS-CoV-2 serology testing: A case study.