Template-Type: ReDIF-Paper 1.0 Title: A Game-Theoretical Approach to the Formation of Ethical Norms Author-Name: Machino, Kazuo Abstract: This essay showｓ the formation of the ethical-norms analytically by modeling them with a Bayesian game played by bounded-rational players. They are bounded-rational in the sense that they have limited memory. The players’ limited memory makes them forget other choices they had and think their relatively successful choice a convention. Deviation from it causes payoff decrease, thus, creates an incentive to penalize the deviator. Finally, reinforcement mechanism of repeating penalty makes the socially beneficial but personally costly convention an ethical norm. Number: 157 Length: 13 pages Creation-Date: 2005-12 File-URL: http://hdl.handle.net/2115/8475 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/8475/1/DP_A_157%28Machino%29.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:157 Template-Type: ReDIF-Paper 1.0 Title: Persistent Inequality and Private Provision of Public Goods Author-Name: Sano, Koichiro Abstract: This paper examines the relationship between the incentive to free ride and inequality by studying the case in which agents invest in human capital and then provide public goods privately. An agent's stock of human capital is affected by his parental stock; the more human capital a parent has, the more effectively his child can learn. Then, the incentives to free ride at provision of public goods in the old period are different among agents. We find that an agent born of a well-educated parent studies harder than an agent born of a less-educated parent, which induces persistent inequality. (JEL Classifications: H41, O15) Keywords: Human Capital, Incentives to Free Ride, Inequality, H41, O15, Number: 159 Length: 15 pages Creation-Date: 2006-01 File-URL: http://hdl.handle.net/2115/8476 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/8476/1/DP_A_159%28Sano%29.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:159 Template-Type: ReDIF-Paper 1.0 Title: On the Solution Set of System of Linear Interval Equations Author-Name: Tanaka, Yoshihiro Abstract: In this paper, a necessary and sufficient condition for the solution set of a system of linear interval equations to be convex in given. It is also discussed the relation between the convexity and feasibility of an optimization problem. Keywords: Linear Interval Equations, Convexity, Number: 13 Length: 9 pages Creation-Date: 1992-03 File-URL: http://hdl.handle.net/2115/10084 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/10084/1/DP_A_13%28Tanaka-Y%29.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:13 Template-Type: ReDIF-Paper 1.0 Title: Asymmetric Tax Competition in a Repeated Game Setting Author-Name: Itaya, Jun-ichi Author-Name: Okamura, Makoto Author-Name: Yamaguchi, Chikara Abstract: The purpose of this paper is to reveal how fiscal policy cooperation can result from repeated interactions in an asymmetric model of capital tax competition. We investigate how regional differences in the per capita capital endowments and/or production technologies affects the willingness of each region to cooperate in achieving tax coordination in a multi-period framework. It is shown not only that there may exist cases where tax coordination is facilitated as regional asymmetries increase but also that the larger the asymmetry in terms of the net capital-exporting positions among regions, the easier is the cooperation to sustain tax coordination. (JEL classification: H73, H77) Keywords: Tax competition, Asymmetric regions, Cooperation, Repeated game, Tax coordination, H73, H77, Number: 176 Length: 28 pages Creation-Date: 2006-12-11 File-URL: http://hdl.handle.net/2115/16912 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/16912/11/DP_A_176%28Itaya%29_new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:176 Template-Type: ReDIF-Paper 1.0 Title: Are Regional Asymmetries Detrimental to Tax Coordination in a Repeated Game Setting? Author-Name: Itaya, Jun-ichi Author-Name: Okamura, Makoto Author-Name: Yamaguchi, Chikara Abstract: This paper reexamines the main findings of Cardarelli et al. (2002), and Contenaro and Vidal (2006), who show that regional asymmetries undermine the implicit collusion of tax coordination in a repeated game model of capital tax competition. In particular, this paper investigates how increasing regional differences in the per capita capital endowments and/or production technologies affect the willingness of each region to cooperate in achieving tax coordination. It is shown not only that there may exist cases where tax coordination is facilitated with an increase in regional asymmetries increase and the greater the degree of asymmetry in terms of the net capital exports of the regions, but also that the higher the cooperation of the regions with respect to the sustenance of tax coordination. Keywords: Tax competition, Asymmetric regions, Cooperation, Repeated game, Tax coordination, Number: 183 Length: 14 pages Creation-Date: 2007-06-18 File-URL: http://hdl.handle.net/2115/22541 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/22541/1/DPA183.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:183 Template-Type: ReDIF-Paper 1.0 Title: Tax Incidence in Dynamic Economies with Externalities and Endogenous Labor Supply Author-Name: Amano, Daisuke Author-Name: Itaya, Jun-ichi Author-Name: Mino, Kazuo Abstract: This paper examines the long-run incidence of factor income taxes and expenditure taxes in an infinitely lived representative agent growth model which allows both for production externalities and for endogenous labor supply. The novelty of this paper is its investigating of how the long-run incidence of taxes is affected by indeterminacy of equilibria that is caused mainly by nonseparable preferences between consumption and leisure. We show that the effects of the taxes on steady state welfare as well as the steady state levels of consumption, capital, and employment are all negative regardless of whether a steady state is determinate or indeterminate in an exogenous growth model. By contrast, in an endogenous growth model those distortionary taxes are growth and welfare enhancing in both a determinate steady state featuring the unconventional slope of the labor supply curve and an indeterminate steady state featuring its conventional slope. (JEL classifications: H41, F13, D62) Keywords: Tax incidence, externalities, indeterminacy and endogenous labor supply, H41, F13, D62, Number: 192 Length: 30 pages Creation-Date: 2007-11-09 File-URL: http://hdl.handle.net/2115/30174 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/30174/1/DPA192.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:192 Template-Type: ReDIF-Paper 1.0 Title: Private Provision of Public Goods between Families Author-Name: CORNES, Richard Author-Name: ITAYA, Jun-ichi Author-Name: TANAKA, Aiko Abstract: We consider a two-stage voluntary provision model where individuals in a family contribute to inter-family public goods, and, at the same time, the parent makes private transfers to her child within the same family. We show not only that Warr’s neutrality holds regardless of the different timings of parent-to-child transfers, but also that there is a continuum of Nash equilibria in the sense that individuals’ contributions and parental transfers are indeterminate, although the allocation of each’s private consumption and total public good provision is uniquely determined. We further show that, in the presence of impure altruism, neutrality and uniqueness of the equilibrium allocation persist. Keywords: private provision, public good, Nash equilibrium, subgame perfect equilibrium, family, C72, D64, H41, Number: 194 Length: 30 pages Creation-Date: 2007-12-18 File-URL: http://hdl.handle.net/2115/30280 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/30280/1/DPA194.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:194 Template-Type: ReDIF-Paper 1.0 Title: Consumption Taxation, Social Status and Indeterminacy in Models of Endogenous Growth with Elastic Labor Supply Author-Name: Itaya, Jun-ichi Author-Name: Kanamori, Naoshige Abstract: This paper examines the effects of consumption taxation on longrun growth in an infinity-lived representative agent model of endogenous growth in which the desire for social status induces private agents to care about others’ wealth or consumption levels. We also allow for nonseparable preferences in own consumption, labor supply and social status that may cause indeterminacy of equilibrium. This analysis shows that consumption taxation generally raises (reduces) a long-run growth rate when the balanced growth path is indeterminate (determinate) in the models of wealth-induced social status and consumption externalities. Keywords: Social Status, Endogenous Growth, Consumption Externality, Indeterminacy, Consumption Taxation, Endogenous Labor Supply, D62, D90, E62, O40, P10, Number: 199 Length: 35 pages Creation-Date: 2008-04 File-URL: http://hdl.handle.net/2115/32614 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/32614/1/DPA199.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:199 Template-Type: ReDIF-Paper 1.0 Title: Partial Tax Coordination in a Repeated Game Setting Author-Name: Itaya, Jun-ichi Author-Name: Okamura, Makoto Author-Name: Yamaguchi, Chikara Abstract: This paper addresses the problem of partial tax coordination among regional or national sovereign governments in a repeated game setting. We show that partial tax coordination is more likely to prevail if the number of regions in a coalition subgroup is smaller and the number of existing regions in the entire economy is larger. We also show that under linear utility, partial tax coordination is more likely to prevail if the preference for a local public good is stronger. The main driving force for these results is the response of the intensity of tax competition. The increased (decreased) intensity of tax competition makes partial tax coordination more (less) sustainable. Keywords: Partial tax coordination, Repeated game, Tax competition, H71, H77, Number: 201 Length: 28 pages Creation-Date: 2008-10-19 File-URL: http://hdl.handle.net/2115/34777 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/34777/1/DPA201.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:201 Template-Type: ReDIF-Paper 1.0 Title: Price setting and competition with search frictions Author-Name: Kudoh, Noritaka Abstract: This paper investigates price determination in a decentralized economy in which buyers' valuations are stochastic and unobservable. In such a market, each buyer's reservation utility depends both on the prevailing price and on the price he actually encounters. The buyer's willingness to trade is shown to be decreasing in the price, and this creates the trade-off for the sellers' price setting. Even though the sellers have incentives to manipulate the buyer's willingness to trade, the economy is not fully competitive; it does not converge to the Walrasian outcome as search frictions disappear. The model is used to study various market structures to explore the nature of market power in search equilibrium. It is shown that price dispersion arises as a result of search frictions and oligopolistic price setting. Keywords: random search, price setting, competition, oligopoly, C78, D40, Number: 203 Length: 29 pages Creation-Date: 2009-02 File-URL: http://hdl.handle.net/2115/35514 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/35514/1/DPA203.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:203 Template-Type: ReDIF-Paper 1.0 Title: Employment and hours of work Author-Name: Kudoh, Noritaka Author-Name: Sasaki, Masaru Abstract: This paper develops a dynamic model of the labor market in which the degree of substitution between employment and hours of work is determined as part of a search equilibrium. Each firm chooses its demand for working hours and number of vacancies, and the earnings profile is determined by Nash bargaining. The earnings profile is generally nonlinear in hours of work, and defines the trade-off between employment and hours of work. Concave production technology induces firms to overemploy and, as a result, hours of work are below their optimal level. The Hosios condition is not sufficient for efficiency. When there are two industries, workers employed by firms with higher recruitment costs work longer and earn more. That is, "good jobs" require longer hours of work. Interestingly, technology differentials cannot account for working hours differentials. Keywords: employment, hours of work, search frictions, J21, J23, J31, J64, Number: 204 Length: 34 pages Creation-Date: 2009-02-18 File-URL: http://hdl.handle.net/2115/35611 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/35611/1/DPA204.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:204 Template-Type: ReDIF-Paper 1.0 Title: Education-Based Wage Differentials and Regional Patterns : The Case of Canadian Registered Nurses Author-Name: Lee, Heyung-Jik Abstract: This paper examines the monetary returns from a baccalaureate degree for the nursing education compared to a diploma across five regions in Canada. It engages me in employing benefit-cost analysis to assess whether the evidence is consistent with implications of human capital theory. Depending on the assumed discount rate and retirement age, the estimated baccalaureate-diploma wage differentials vary in each Canadian region. In this study, I conclude that the decision to invest in one more year of nursing education is economically rational only for the registered nurses who work in Eastern Canada. Number: 206 Length: 27 pages Creation-Date: 2009-03 File-URL: http://hdl.handle.net/2115/38080 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/38080/1/DPA206.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:206 Template-Type: ReDIF-Paper 1.0 Title: Tax Rate Harmonization, Renegotiation and Asymmetric Tax Competition for Profits with Repeated Interaction Author-Name: Eggert, Wolfgang Author-Name: Itaya, Jun-ichi Abstract: This paper analyzes a model of corporate tax competition with repeated interaction and with the strategic use of profit shifting within multinationals. We show that international tax coordination is more likely to prevail if the degree of asymmetry in terms of productivity differences between countries is smaller, or if concealment costs of profit shifting are larger when the tax authorities adopt grim-trigger strategies. Allowing for renegotiation in the tax harmonization process generally requires more patient tax authorities to support tax harmonization as a subgame perfect equilibrium. We find somewhat paradoxical situations where higher costs of profit shifting make international tax arrangements less sustainable under weakly-renegotiation-proof strategies. Keywords: corporate taxation, tax coordination, multinational firms, H25, H87, F23, Number: 214 Length: 30 pages Creation-Date: 2009-10-13 File-URL: http://hdl.handle.net/2115/39483 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/39483/1/DPA214.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:214 Template-Type: ReDIF-Paper 1.0 Title: Beauty Contests and Asset Prices under Asymmetric Information Author-Name: Ishikawa, Ryuichiro Author-Name: Kudoh, Noritaka Abstract: In this paper, we study a dynamic Gaussian financial market model in which the traders form higher-order expectations about the fundamental value of a single risky asset. Rational uninformed traders are introduced into an otherwise standard differential information economy to investigate the impact of asymmetric information. In a two-period economy, there is a unique linear equilibrium; beauty contests under asymmetric information do not introduce excess volatility driven by self-fulfilling multiple equilibria. Under certain conditions, there is a nonmonotonic relationship between price volatility and the proportion of uninformed traders. Keywords: higher-order expectations, asset prices, asymmetric information, D82, D84, G12, G14, Number: 218 Length: 30 pages Creation-Date: 2010-01-24 File-URL: http://hdl.handle.net/2115/42576 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/42576/1/DPA218.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:218 Template-Type: ReDIF-Paper 1.0 Title: Monetary Policy Rules and the Effects of Fiscal Policy Author-Name: Kudoh, Noritaka Author-Name: Nguyen, Hong Thang Abstract: We explore the implications of adopting a Taylor-type interest-rate rule in a simple monetary growth model in which budget deficits are financed partly by unbacked government debt. To ensure uniqueness of the steady-state equilibrium, monetary policy cannot be either too "active" or too "passive". The effects of fiscal policy depend crucially on whether monetary policy is active or passive, and are independent of the "tightness" of monetary policy. Keywords: monetary policy rules, fiscal policy, overlapping generations, E52, E62, H62, H63, Number: 220 Length: 25 pages Creation-Date: 2010-02 File-URL: http://hdl.handle.net/2115/42609 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/42609/1/DPA220.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:220 Template-Type: ReDIF-Paper 1.0 Title: A Network Structure of ROSCAs (Rotating Savings and Credit Associations) : ERGMs (Exponential Random Graph Models) Applied to a Leaders' Network in Rural Uzbekistan Author-Name: Hiwatari, Masato Abstract: This paper empirically analyzes a network structure created by the ROSCAs (Rotating Savings and Credit Associations) related to a leaders' network in rural Uzbekistan. The estimation methodology is based on the recent development of ERGMs (Exponential Random Graph Models) whose approximate maximum likelihood estimators are produced by MCMC (Markov Chain Monte Carlo) algorithms. The paper reveals the tendencies of the transitive triad structure of the network that can facilitate the tracking of defecting members. Keywords: ROSCAs, Networks, Risk-Sharing, ERGMs, MCMC, O1, I3, Number: 221 Length: 24 pages Creation-Date: 2010-02 File-URL: http://hdl.handle.net/2115/42737 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/42737/1/DPA221.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:221 Template-Type: ReDIF-Paper 1.0 Title: The Role of Communities in Economic Development : Mahalla in Uzbekistan and Mura in Japan Author-Name: Xivatari, Masato Abstract: This paper discusses the role of local communities in economic development from the perspective of a comparative study of two states; Uzbekistan and Japan. First, I describe the basic concepts of local communities in the two countries -mahalla and mura- while noting the similarities between them. Then, I glean some suggestions from Japanese historical experience toward economic development in Uzbekistan. Keywords: Community Development, Social Capital, Development Economics, Uzbekistan, Japan, Number: 222 Length: 10 pages Creation-Date: 2010-02 File-URL: http://hdl.handle.net/2115/42738 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/42738/1/DPA222.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:222 Template-Type: ReDIF-Paper 1.0 Title: The Post-War Issei : A History of Japanese Chamber of Commerce of Southern California, 1949-1990s Author-Name: Kinoshita, Natsuki Number: 223 Length: 14 pages Creation-Date: 2010-03 File-URL: http://hdl.handle.net/2115/42758 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/42758/1/DPA223.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:223 Template-Type: ReDIF-Paper 1.0 Title: Taxation in the Two-Sector Neoclassical Growth Model with Sector-Specific Externalities and Endogenous Labor Supply Author-Name: Amano, Daisuke Author-Name: Itaya, Jun-ichi Abstract: This paper examines the long-run impacts of selective (sector-specific) commodity, payroll and profit taxes in a two-sector endogenous growth model with sector-specific production externalities, in which one sector produces consumption goods and the other produces investment goods. The novelty of the model is that it allows not only for endogenous labor supply (which may lead to indeterminacy) but also for the intersectional allocation of labor. We analytically show that the long-run effects of these selective taxes are closely related to the possible emergence of the indeterminacy of equilibria, which may reverse the standard results of the growth effects of distortionary taxes. Keywords: Selective tax, Two-sector model, Endogenous growth, Production externalities, Indeterminacy, Endogenous labor supply, H22, J22, O41, Number: 225 Length: 36 pages Creation-Date: 2010-06 File-URL: http://hdl.handle.net/2115/43304 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/43304/5/DPA225.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:225 Template-Type: ReDIF-Paper 1.0 Title: Partial Harmonization of Corporate Taxes in an Asymmetric Repeated Game Setting Author-Name: Itaya, Jun-ichi Author-Name: Okamura, Makoto Author-Name: Yamaguchi, Chikara Abstract: This paper investigates the conditions under which partial harmonization for capital taxation is sustained in a repeated interactions model of tax competition when there are three heterogenous countries with respect to their capital endowments. We show that regardless of the structure of the coalition (i.e., any group of countries), whether partial tax harmonization is sustainable or not crucially depends on the capital endowment of the median country relative to those of the large and small countries. The most noteworthy finding is that the closer the capital endowment of the median country to the average capital endowment of the large and small countries, the less likely is the tax harmonization including the median country to prevail and the more likely is the partial tax harmonization excluding the median country to prevail. Keywords: Tax coordination, Asymmetric countries, Repeated game, Tax competition, H73, F59, F21, Number: 229 Length: 35 pages Creation-Date: 2010-11 File-URL: http://hdl.handle.net/2115/44188 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/44188/5/DPA229_new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:229 Template-Type: ReDIF-Paper 1.0 Title: A Class of Nonparametric Estimators for Bivariate Extreme Value Copulas Author-Name: Suzukawa, Akio Abstract: Extreme value copulas are the limiting copulas of component-wise maxima. A bivariate extreme value copulas can be represented by a convex function called Pickands dependence function. In this paper we consider nonparametric estimation of the Pickands dependence function. Several estimators have been proposed. They can be classified into two types: Pickands-type estimators and Capéraà-Fougères-Genest-type estimators. We propose a new class of estimators, which contains these two types of estimators. Asymptotic properties of the estimators are investigated, and asymptotic efficiencies of them are discussed under Marshall-Olkin copulas. Keywords: Bivariate exponential distribution, Extreme value distribution, Pickands dependence function, Number: 230 Length: 19 pages Creation-Date: 2010-11 File-URL: http://hdl.handle.net/2115/44280 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/44280/5/DPA230_new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:230 Template-Type: ReDIF-Paper 1.0 Title: An Approximate Likelihood Procedure for Competing Risks Data Author-Name: Suzukawa, Akio Abstract: Parametric estimation of cause-specific hazard functions in a competing risks model is considered. An approximate likelihood procedure for estimating parameters of cause-specific hazard functions based on competing risks data subject to right censoring is proposed. In an assumed parametric model that may have been misspecified, an estimator of a parameter is said to be consistent if it converges in probability to the pseudo-true value of the parameter as the sample size becomes large. Under censorship, the ordinary maximum likelihood method does not necessarily give consistent estimators. The proposed approximate likelihood procedure is consistent even if the parametric model is misspecified. An asymptotic distribution of the approximate maximum likelihood estimator is obtained, and the efficiency of the estimator is discussed. Datasets from a simulation experiment, an electrical appliance test and a pneumatic tire test are used to illustrate the procedure. Keywords: Aalen-Johansen estimator, cause-specific cumulative incidence function, Censored data, Kaplan-Meier estimator, Number: 231 Length: 22 pages Creation-Date: 2010-11 File-URL: http://hdl.handle.net/2115/44284 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/44284/5/DPA231_new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:231 Template-Type: ReDIF-Paper 1.0 Title: Relationship between Shopping Streets and Community Currency Circulation : A Case Study of the City of Musashino, Tokyo, Japan Author-Name: Kurita, Ken-ichi Author-Name: Miyazaki, Yoshihisa Author-Name: Nishibe, Makoto Number: 235 Length: 18 pages Creation-Date: 2011-02 File-URL: http://hdl.handle.net/2115/44845 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/44845/3/DPA235_new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:235 Template-Type: ReDIF-Paper 1.0 Title: Community Currencies as Integrative Communication Media for Evolutionist Institutional Design Author-Name: Nishibe, Makoto Number: 236 Length: 18 pages Creation-Date: 2011-02 File-URL: http://hdl.handle.net/2115/44843 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/44843/3/DPA236_new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:236 Template-Type: ReDIF-Paper 1.0 Title: The Comparison in Transaction Efficiency between Dispersive and Concentrated Money Creation Author-Name: Kichiji, Nozomi Author-Name: Nishibe, Makoto Number: 237 Length: 12 pages Creation-Date: 2011-02 File-URL: http://hdl.handle.net/2115/44844 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/44844/3/DPA237_new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:237 Template-Type: ReDIF-Paper 1.0 Title: A Short Derivation of the Kuhn-Tucker Conditions Author-Name: Tanaka, Yoshihiro Abstract: The Kuhn-Tucker conditions have been used to derive many significant results in economics. However, thus far, their derivation has been a little bit troublesome. The author directly derives the Kuhn-Tucker conditions by applying a corollary of Farkas's lemma under the Mangasarian-Fromovitz constraint qualification. Keywords: Farkas's lemma, Kuhn-Tucker conditions, the method of Lagrange multipliers, economics, C60, C61, Number: 234 Length: 6 pages Creation-Date: 2011-02 File-URL: http://hdl.handle.net/2115/45177 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/45177/3/DPA234_new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:234 Template-Type: ReDIF-Paper 1.0 Title: A Chamberlinian Agglomeration Model with External Economies of Scale Author-Name: Kurata, Hiroshi Author-Name: Nomura, Ryoichi Author-Name: Suga, Nobuhito Abstract: We investigate the effects of a reduction in trade costs on industrial location and welfare in an economy with external economies of scale. We propose a Chamberlinian agglomeration model with footloose capital, which is analytically-solvable. With respect to industrial location, we demonstrate that a reduction in trade cost is likely to lead to agglomeration. With respect to welfare, we show that agglomeration makes a country with agglomeration better off, and the country without agglomeration better or worse off, depending on the degree of external economies of scale. We also prove that agglomeration makes the overall economy better off. Keywords: New economic geography, Agglomeration, Footloose capital, External economies of scale, F12, F15, F21, R12, Number: 242 Length: 25 pages Creation-Date: 2011-08 File-URL: http://hdl.handle.net/2115/46972 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/46972/3/DPA242_new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:242 Template-Type: ReDIF-Paper 1.0 Title: Optimal emission tax with endogenous location choice of duopolistic firms Author-Name: Masako, Ikefuji Author-Name: Jun-ichi, Itaya Author-Name: Makoto, Okamura Abstract: This paper explores an optimal environmental tax policy when polluting firms strategically choose the location of their plants in a three-stage game. We examine how the relationship between the optimal environmental tax and the plant location choices of duopolistic firms affects the welfare of the home country. We show that even if the duopolistic firms are identical ex ante, an asymmetric equilibrium may emerge in which either of the two firms relocates its plant in the foreign country. We also show that despite the persistence of globalization, the firms move back their relocated plants to the home country, thus causing the resulting welfare to decline. Keywords: Environmental policy, Globalization, Relocation, Welfare, Number: 257 Length: 38 pages Creation-Date: 2013-04 File-URL: http://hdl.handle.net/2115/52724 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/52724/1/Discussion%20Paper%2cSeriesA%2cNo.2013-257.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:257 Template-Type: ReDIF-Paper 1.0 Title: On the Sustainability of Partial Tax Harmonization among Asymmetric Countries Author-Name: Itaya, Jun-ichi Author-Name: Okamura, Makoto Author-Name: Yamaguchi, Chikara Abstract: This paper investigates the conditions under which partial harmonization for capital taxation is sustained in a repeated interactions model of tax competition when there are three countries asymmetric in repect to their capital endowments. We show that regardless of the structure of the coalition (i.e., any group of asymmetric countries), whether partial tax harmonization is sustainable or not crucially depends on the capital endowment of the median country relative to those of the large and small countries. The most noteworthy finding is that the closer the capital endowment of the median country to the average capital endowment of the large and small countries, the less likely is the tax harmonization including the median country to prevail and the more likely is the partial tax harmonization excluding the median country to prevail. Keywords: Tax coordination, Asymmetric countries, Repeated game, Tax competition, Number: 259 Length: 36 pages Creation-Date: 2013-05-30 File-URL: http://hdl.handle.net/2115/52759 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/52759/1/DPA259.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:259 Template-Type: ReDIF-Paper 1.0 Title: What is Coworking? : A Theoretical Study on the Concept of Coworking Author-Name: Uda, Tadashi Abstract: The purpose of this paper is to examine the concept of coworking on the basis of reviewing discussions related to this concept and to demonstrate issues for theoretical development. Specifically, first an overview is made on the practical unfolding of coworking, which is the subject of increasing attention in Japan and overseas in recent years. Next, questions that have so far largely been untouched such as what kind of concept coworking is and how it differs from existing related issues, are examined utilizing the two concepts of coworker, i.e. working individual, and coworking space, i.e. workplace. On that foundation, three points are presented as issues for theoretical development. First, to systematically consider coworking based on the knowledge of previous research on working individuals and workplaces. Second, to construct an elaborate theoretical framework based on the review of related previous research. And lastly, to grasp the actual conditions and mechanisms of coworking by focusing on actors that strive to invoke the concepts of coworking while redefining the way of working and associated practices. Keywords: coworking, coworker, coworking space, way of working, Number: 265 Length: 15 pages Creation-Date: 2013-12 File-URL: http://hdl.handle.net/2115/53982 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/53982/1/DPA265.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:265 Template-Type: ReDIF-Paper 1.0 Title: On the convergence property of the sum of reciprocals of Mersenne primes Author-Name: Tanaka, Yoshihiro Abstract: The sum of reciprocals of Mersenne primes converges to 0.51645417894078856533・・・. Keywords: Mersenne prime numbers, Number: 266 Length: 4 pages Creation-Date: 2014-01 File-URL: http://hdl.handle.net/2115/54518 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/54518/3/DPA266R.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:266 Template-Type: ReDIF-Paper 1.0 Title: Trade Patterns and the Gains from Trade in a Chamberlinian-Ricardian Model Author-Name: Suga, Nobuhito Author-Name: Hisanaga, Makoto Abstract: This paper investigates trade patterns and the gains from trade in a Chamberlinian-Ricardian model with a CES type of upper-tier utility function. It is shown that a strong tendency toward complete specialization emerges under free trade and that free trade is preferable to autarky from the viewpoint of each country’s welfare. This paper also considers the trade regime called semi-autarky, in which one sector is under free trade, while the other is closed. The analysis demonstrates that free trade does not necessarily attain higher welfare in all countries relative to semi-autarky if cross-sector substitution in consumption is elastic. Keywords: Chamberlinian-Ricardian model, Trade patterns, Gains from trade, Number: 267 Length: 47 pages Creation-Date: 2014-03 File-URL: http://hdl.handle.net/2115/54925 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/54925/3/DPA267.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:267 Template-Type: ReDIF-Paper 1.0 Title: Transfer Arrangement, Labor Migration and Community Welfare Author-Name: Yamada, Daichi Abstract: An informal transfer arrangement within a community redistributes incomes. While this may improve the welfare by mitigating the income inequality, it will also a ect households’ decisions on labor migration, a way to expand incomes. This paper theoretically examines the transfer arrangement that maximize the community welfare, taking into account its e ect on endogenous labor migration decisions. The result shows that the welfare is maximized when the redistribution through transfer is limited. It also presents an alternative explanation for empirical findings of limited transfer arrangement. Keywords: Informal transfer, Labor migration, Number: 272 Length: 11 pages Creation-Date: 2014-05 File-URL: http://hdl.handle.net/2115/55296 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/55296/1/DPA272.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:272 Template-Type: ReDIF-Paper 1.0 Title: Trade Structure and Growth Effects of Taxation in a Two-Country World Author-Name: Amano, Daisuke Author-Name: Itaya, Jun-ichi Author-Name: Mino, Kazuo Abstract: This paper explores the long-run impacts of tax policy in a two-country model of endogenous growth with variable labor supply. We focus on international spillover effects of tax reforms under alternative trade structures. It is shown that if the instantaneous utility function of the representative family in each country is additively separable and if international capital mobility is absent, then a change in taxation in one country does not directly affect capital formation in the other country. Such a conclusion is fundamentally modified if international borrowing and lending are allowed. Due to free financial flows, a change in tax policy in one country directly diffuses to the growth performance of the other country, even though preference structures are assumed to be log-additive forms. Keywords: factor-income tax, consumption tax, equilibrium dynamics, two-country model, endogenous growth, variable labor supply, Number: 273 Length: 40 pages Creation-Date: 2014-05 File-URL: http://hdl.handle.net/2115/55701 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/55701/1/DPA273.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:273 Template-Type: ReDIF-Paper 1.0 Title: Economic System and Transition Mode : A Comparative Research on Transition Economies Author-Name: Yang, Liu Abstract: This passage mainly deals with the problem of why different transition countries have different transition mode and different economic performance. According to this research, it has been found that the economic system of the traditional socialist countries played an important role in their process of reform and transition. The socialist countries with their different economic systems had determined the economic performance, the space, as well as the environment of the transition. All of this jointly formed the initial conditions of the transition, which further determined the different transition mode of the (post) socialist countries. The success or failure of internal reform on planned economies profoundly affected their later transition. On this occasion, it was not the different countries chose the specific transition mode, but was the transition mode had already been determined in the process of institutional change. If we concentrate on the process of the whole institutional change in these (post) socialist countries, the preconceptions of "radicalism" or "gradualism" will not lead the problems to the wrong path. By making the comparative research on different transition countries, an institutional reason was provided in order to better illustrate the China’s catch-up development after her reform and opening compared with other transition economies in their process of system transition and institutional change. Keywords: economic system, socialist country, transition economy, institutional change, transition mode, structural reform, economic performance, Number: 274 Length: 27 pages Creation-Date: 2014-07 File-URL: http://hdl.handle.net/2115/56630 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/56630/1/DPA274.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:274 Template-Type: ReDIF-Paper 1.0 Title: On equilibrium existence theorem based on an infinite dimensional Gale-Nikaido Lemma Author-Name: Kubota, Hajime Abstract: This paper considers several versions of the infinite dimensional Gale-Nikaido lemma and establishes the existence of competitive equilibrium in a simplified Bewley(1972)’ economy with l∞ as the commodity space with applying an infiinite dimensional Gale-Nikaido Lemma obtained in this paper. Number: 276 Length: 34 pages Creation-Date: 2014-10 File-URL: http://hdl.handle.net/2115/57105 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/57105/1/DPA276.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:276 Template-Type: ReDIF-Paper 1.0 Title: Mine safety and Industrial accidents at the Générale des Carrières et des Mines, in Katanga, Democratic Republic of Congo Author-Name: Kalenga, John Ngoy Abstract: This paper focuses on the workplace accidents of Gecamines in a comparative perspective. Copper industry has been the cornerstone of Congolese economy since the colonial era. Katanga province is well known for its reserves of copper and cobalt. Many accidents occurred in mining operations of Gecamines. We collected data of accidents from 1957 to 2008 during the fieldwork at Gecamines. Data of this study included only the accidents that required the miner to be absent from work for at least four calendar days. This study aims to determine factors of the accidents at Gecamines in order to suggest the policy to prevent the occurrence of accidents. The results show that miners at Gecamines were more exposed to the risk of accidents than their colleagues of similar industries in Australia, Canada and the United States of America. The average frequency, severity and number fatalities per year of Gecamines were 48, 3, and 9, respectively. These statistics were higher than those of the aforementioned three countries. Gecamines cared for the injured miners thus increasing the operating cost. These results imply that mine safety and working conditions at Gecamines should be improved to reduce the occurrence of accidents. The reduction of accidents should be achieved by training of miners and instauration of inspectors in charge of safety. Keywords: Mine safety, accidents, Gecamines, Katanga, Copper industry, Autoregressive model, Number: 277 Length: 13 pages Creation-Date: 2014-11 File-URL: http://hdl.handle.net/2115/57345 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/57345/1/DPA277.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:277 Template-Type: ReDIF-Paper 1.0 Title: Dynamics of the Comparative Advantage Structure and their Differences between Goods and Services Author-Name: Hisanaga, Makoto Abstract: This study investigates state transitions of the comparative advantage structures by use of a Balassa index and one of the applicative methods of the stochastic process. The analytical framework consists of estimating non-parametrically the initial distribution of the transition probability matrix (TPM) that is well known as Markov matrix, evaluating the mobility, which means the degree of structural change in the analysis, of the initial distributions, and computing numerically the limit distributions of the TPM. The analysis also attempts to improve methods of the existing studies, and proposes a new evaluation index. Results of a series of analyses based on empirical data provide the following facts: firstly, the comparative advantage mobility differs between trade in goods and in services. Secondly, the state persistency of the comparative advantage indicates the higher probabilities in both strong and weak edge regions and the lower probabilities in intermediate regions, relatively. Thirdly, a convergence speed of the stochastic process depends on conditions of the initial distributions of the TPM. The convergence speed is related to the mobility, and differs between the goods and the services. Finally, external shocks stimulate the mobility. This study consequently brings out features of the comparative advantage structure dynamics. Keywords: Balassa Index, Structural Change, Comparative Advantage Dynamics, Stochastic Process, Mobility/Persistency, Number: 284 Length: 52 pages Creation-Date: 2015-06 File-URL: http://hdl.handle.net/2115/59218 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/59218/1/DPA284.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:284 Template-Type: ReDIF-Paper 1.0 Title: Does Endogenous Timing Matter in Implementing Partial Tax Harmonization? Author-Name: Itaya, Jun-ichi Author-Name: Yamaguchi, Chikara Abstract: The endogenous timing of moves is analyzed in a repeated game setting of capital tax competition, where a subgroup of countries implementing partial tax harmonization and outside countries choose whether to set capital taxes sequentially or simultaneously. It is shown that the simultaneous-move outcome prevails in every stage game of the infinitely repeated tax-competition game as its subgame-perfect Nash equilibrium (SPNE) if a taxunion consists of similar countries, whereas both the simultaneous-move and sequentialmove (Stackelberg) outcomes can be sustained as SPNEs when a tax-union consists of dissimilar countries. This is in sharp contrast with the finding of Ogawa (2013). In his two-stage game, when asymmetric countries in terms of productivity have opposite incentives towards the terms of trade in order to manipulate the price of capital in their favor, there exists only a simultaneous-move Nash equilibrium. This difference arises from the fact that infinite repetition is able to support a wider range of behavior that is not a Nash equilibrium of the one-shot stage game of the repeated tax-competition game, such as a Stackelberg follower’s strategy. Keywords: Tax competition, Tax harmonization, Endogenous timing, Repeated game, Number: 286 Length: 34 pages Creation-Date: 2015-06 File-URL: http://hdl.handle.net/2115/59424 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/59424/3/DPA286.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:286 Template-Type: ReDIF-Paper 1.0 Title: Industrial Location and North-South Trade in Vertically-linked Industries Author-Name: Kurata, Hiroshi Author-Name: Nomura, Ryoichi Author-Name: Suga, Nobuhito Abstract: This study clarifies how a reduction in trade costs affects location and economic welfare in an economy with a vertically-linked industry. We focus on location in upstream and downstream sectors and economic welfare for a reduction in trade costs for intermediate goods. We show that the reduction in trade costs makes upstream and downstream production in the North move to the South, and further liberalization makes some of the upstream productions remove back to the North. We also demonstrate that such reduction in trade costs improves world welfare but does not necessarily benefit for each country. Keywords: Industrial location, Vertically-linked industries, North-South trade, Number: 288 Length: 32 pages Creation-Date: 2015-09 File-URL: http://hdl.handle.net/2115/59871 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/59871/3/DPA288.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:288 Template-Type: ReDIF-Paper 1.0 Title: Invention and Development : Toward Schumpeter's early innovation theory Author-Name: KOBAYASHI, Daisuke Abstract: It has been the consensus among researchers that Schumpeter clearly distinguished the notions of innovation and invention, even neglecting the notion of invention in his work. Consequently, there has been very little effort made to tackle the relationship between Schumpeter’s development theory and the invention theories that were popular in the fields of anthropology and archaeology at that time, making it difficult to grasp how Schumpeter elaborated his own development theory. However, a close examination of his early works demonstrates that Schumpeter’s development theory can also be understood in the context of the debates surrounding the notion of invention. In Theorie der wirtschaftlichen Entwicklung, Schumpeter presented his static agent/innovator dyad with reference to ideas or terms used in the debates of invention being conducted around that time by anthropologists and archaeologists. In the present paper, the author seeks to depict the history of the concept of invention, helped by the work of Benoît Godin, and discusses how Schumpeter presented his development theory based on the ideas involved in the invention debates. Keywords: invention, evolutionism, diffusionism, unilinear development, psychic unity, Number: 292 Length: 10 pages Creation-Date: 2015-11 File-URL: http://hdl.handle.net/2115/60236 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/60236/3/DPA292new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:292 Template-Type: ReDIF-Paper 1.0 Title: A Descriptive Statistics on Coworking Spaces in Japan Author-Name: Uda, Tadashi Author-Name: Abe, Tomokazu Abstract: This paper aims to shed light on the actual condition of coworking spaces in Japan based on a questionnaire survey. A way of working called "coworking" and a place for such work called "coworking space" have been attracting attention in recent years because they may provide a more flexible work style, diverse members to interact with, and open spaces than are experienced when working in a specific company or corporate office. However, the understanding of this phenomenon is insufficient. Therefore, in this paper we will first review coworking studies with a focus on the annual Global Coworking Survey conducted around the world. Then, we will present the results of the descriptive statistics of a questionnaire survey conducted among almost all coworking spaces operating in Japan from six perspectives: facility, management organization, business strategy, activity, space users, and performance. Based on the results, we will then present and examine the findings of this paper. Keywords: Coworking, Coworking Space, Descriptive Statistics, Complete Enumeration, Number: 297 Length: 40 pages Creation-Date: 2015-12 File-URL: http://hdl.handle.net/2115/60456 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/60456/3/DPA297new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:297 Template-Type: ReDIF-Paper 1.0 Title: Should income inequality be praised? Multiple public goods provision, income distribution, and social welfare Author-Name: Itaya, Jun-ichi Author-Name: Mizushima, Atsue Abstract: We investigate how income inequality affects social welfare in a model of voluntary contributions to multiple pure public goods. Itaya, de Meza, and Myles (1997) show that the maximization of social welfare precludes income equality in a single pure public good model. In contrast, we show that the result of Itaya et al. may not be valid in a case of multiple voluntarily supplied public goods; specifically, we show that not only an income inequality-raising redistribution policy but also an income-equalizing one may raise social welfare. We also show that if altruistically motivated voluntary transfers are allowed, an inequality-raising redistribution policy is no longer effective and leaves social welfare unchanged. Keywords: Public goods, Inequality, Social welfare, Voluntary provision, Income distribution, Number: 298 Length: 37 pages Creation-Date: 2016-01-26 File-URL: http://hdl.handle.net/2115/60614 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/60614/1/DPA298.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:298 Template-Type: ReDIF-Paper 1.0 Title: A Correlation Analysis of the Questionnaire Survey on Coworking Spaces in Japan Author-Name: Abe, Tomokazu Author-Name: Uda, Tadashi Abstract: The purpose of this paper is to analyze correlations about the actual condition of coworking spaces in Japan, based on a questionnaire survey. A way of working called "coworking" and a place for such work called "coworking space" have been attracting attention in recent years because they may provide a more flexible work style, diverse members to interact with, and open spaces than are experienced when working in a specific company or corporate office. However, the understanding of this phenomenon is insufficient. There is still hardly any empirical research that discusses the actual conditions of coworking and coworking spaces especially in Japan, though we can find some implicative descriptive papers on this phenomenon. Thus, we attempt to shed some light on the current status of coworking spaces in the following steps. Firstly, we review previous studies about coworking, focusing primarily on the annual Global Coworking Survey conducted around the world. Secondly, we show the result of correlation analysis based on a questionnaire survey conducted among almost all coworking spaces operating in Japan from six viewpoints: facility, management organization, business strategy, activity, space users, and performance. Keywords: Coworking, Coworking Space, Correlation Analysis, Complete Enumeration, Number: 299 Length: 61 pages Creation-Date: 2016-02 File-URL: http://hdl.handle.net/2115/60720 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/60720/3/DPA299new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:299 Template-Type: ReDIF-Paper 1.0 Title: On the convergence in female participation rates Author-Name: Abe, Yukiko Abstract: Large regional differences exist in female participation across regions within Japan. This paper uses two datasets to show that a significant convergence in female participation occurred from 1940 to 2010. Historically, female participation has been low in urban areas and high in non-urban areas. The participation rate steadily and significantly increased in urban areas and, to a lesser extent in non-urban areas, and thus regional differences shrank over time. Microdata from 1982 to 2012 reveal that regional dispersion is large for married women’s regular full-time participation in the traditional sectors (manufacturing for the less educated and teaching for the highly educated). Compositional changes in demographics and educational attainment explain 74 percent of the convergence for those aged 25-39 years, and 40 percent of the convergence for those aged 40-54 years. An increase in non-regular employment accounts for 60 percent of the convergence for the latter group. Convergence in regular full-time participation by married women is only observed in the traditional sectors (manufacturing and teaching) and not in the new sectors (service and retail). Since the compositional change is the major source of convergence for young women's participation, their behavior across regions did not converge. Keywords: convergence, region, female participation, Number: 301 Length: 40 pages Creation-Date: 2016-04 File-URL: http://hdl.handle.net/2115/61279 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/61279/1/DPA301.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:301 Template-Type: ReDIF-Paper 1.0 Title: Current Status and Issues of Coworking Spaces in Japan Author-Name: Abe, Tomokazu Author-Name: Uda, Tadashi Abstract: The purpose of this paper is to clarify the actual condition of coworking spaces in Japan, based on a questionnaire survey. A way of working called "coworking" and a place for such work called "coworking space" have been attracting attention in recent years because they may provide a more flexible work style, diverse members to interact with, and open spaces than are experienced when working in a specific company or corporate office. However, we still have not acquired the whole picture of coworking and coworking spaces because of insufficiency of the comprehensive research. Thus, we attempt to shed some light on the current status of coworking spaces in the following steps. Firstly, we review previous studies about coworking. Secondly, we will present the current status and issues of coworking spaces, based on a questionnaire survey conducted among almost all coworking spaces operating in Japan. Finally, we consider the significance of our findings, comparing with those in previous studies. Keywords: Coworking, Coworking Space, Complete Enumeration, Management, Issues, Number: 302 Length: 19 pages Creation-Date: 2016-04-19 File-URL: http://hdl.handle.net/2115/61397 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/61397/1/DPA302.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:302 Template-Type: ReDIF-Paper 1.0 Title: Rational Theory of Information Security Battle: Economic Analysis of Preemptive Behavior Author-Name: Goto, Makoto Author-Name: Tatsumi, Ken-ichi Abstract: We develop a model of a zero-sum information security game by introducing a reward function (called P-function) for cyber attackers into the models of Gordon and Leob (2002) and Tatsumi and Goto (2010). Then the preemptive behavior of cyber attackers or defenders is analyzed. The derivation of the optimal behavior is based on a real options theory and the properties are numerically calculated. Through our numerical analysis cyber attackers are turned out to be rational in the sense that they are very sensitive and quickly respond to both the monetary gain that they will obtain and the vulnerability of defenders. We further observe among others that, in many cases, defenders can optimally preempt. However, this is because attackers have no incentive to attack targets with a small monetary gain. Keywords: information security investment, preemptive behavior, threat, optimal timing, real options theory, Number: 303 Length: 31 pages Creation-Date: 2016-06 File-URL: http://hdl.handle.net/2115/62344 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/62344/3/DPA303new.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:303 Template-Type: ReDIF-Paper 1.0 Title: Alternative Objectives in an Oligopoly Model : An Aggregative Game Approach Author-Name: Itaya, Jun-ichi Author-Name: Cornes, Richard Abstract: A rapidly growing literature analyzes models in which firms maximize objectives other than profit and enjoy market power. Examples include the labor-managed firm, mixed oligopoly, and delegation models. These models typically retain the aggregative structure of the conventional Cournot model of imperfect competition. We exploit this fact and apply the framework recently developed by Cornes and Hartley (2005, 2011) to analyze the properties of the equilibrium in such games. We show that existing treatments often make more restrictive assumptions than necessary to generate their results. Specifically, we identify conditions sufficient to ensure the existence of a unique equilibrium, and we explore the comparative static properties of these conditions. Keywords: Aggregative Game, Oligopoly, Hahn’s Condition, Non-profit Maximization, Share Function, Number: 307 Length: 31 pages Creation-Date: 2016-11-06 File-URL: http://hdl.handle.net/2115/63516 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/63516/1/DPA307.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:307 Template-Type: ReDIF-Paper 1.0 Title: Not All Exchange Rate Movements Are Alike : Exchange Rate Persistence and Pass-Through to Consumer Prices Author-Name: Shirota, Toyoichiro Abstract: This study develops a framework to identify persistent and transitory shocks in exchange-rate movements and to estimate the shock-specific exchange-rate pass-through to domestic prices. The framework combines a dataset of a long time series of exchange-rate forecasts since the 1980s with a range restriction that is a natural generalization of the standard sign restriction. The empirical results show that exchange rate pass-through is higher when a persistent shock dominates exchange-rate movements. The composition of persistent and transitory shocks varies over time. This study asserts that time variations of exchange rate pass-through are at least partly attributable to differences in shock-specific pass-through rates and variations in the composition of shocks over time. Applying our identification procedure to disaggregated prices of the CPI, we also find that a correlation between pass-through coefficients and frequencies of price adjustments is shock dependent. Specifically, the positive correlation, which is reported in Gopinath and Itskhoki [2010], disappears, when exchange-rate movements are transitory. Keywords: exchange-rate pass-through, exchange-rate persistence, range restriction, survey expectation, Number: 311 Length: 22 pages Creation-Date: 2017-09 File-URL: http://hdl.handle.net/2115/67120 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/67120/1/DPA311.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:311 Template-Type: ReDIF-Paper 1.0 Title: Social Capital and the Status Externality Author-Name: Itaya, Jun-ichi Author-Name: Tsoukis, Chris Abstract: This paper investigates how the presence of social capital affects the externality arising from status-seeking preference as a parable for inefficient antagonistic behavior. It is assumed that the stock of social capital is accumulating through joint social interaction between rational individuals who are forward looking. Using a differential game, we show that although the presence of social capital mitigates the tendency of overconsumption over time, social capital ends up declining to zero. It is also shown that the benefits from social capital enhance the motivation of individuals to accumulate social capital thereby leading to deter overaccumulation and thus possibly improving social welfare. Keywords: social capital, status externality, Markov perfect equilibrium, differential game, Number: 318 Length: 36 pages Creation-Date: 2017-12-07 File-URL: http://hdl.handle.net/2115/67805 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/67805/1/DPA318.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:318 Template-Type: ReDIF-Paper 1.0 Title: An Analysis of Peer Effects on Vaccination Behavior Using a Model of Privately Provided Public Goods Author-Name: Itaya, Jun-ichi Author-Name: Ibuka, Yoko Author-Name: Miyazato, Naomi Abstract: Traditional economic models of vaccination behavior simply assume that agents free-ride on the vaccination decisions of others. We provide three different models of private provision of a public good, such as a joint production model and a conjectural variation model, to explain how a positive peer effect regarding vaccination behavior arises. We conduct two empirical studies using Japanese data in these models. The first empirical analysis, using a data set on the vaccination behavior of neighbors residing in the same block of a city, finds the existence of positive peer effects on individuals' vaccination decisions. The second empirical analysis also confirms that there are peer effects on the vaccination decisions of members of the same household using a dataset from the national survey we conduct. Keywords: Peer effect, Public Good, Vaccination, Free-rider, Number: 321 Length: 42 pages Creation-Date: 2018-02-25 File-URL: http://hdl.handle.net/2115/68392 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/68392/1/DPA321.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:321 Template-Type: ReDIF-Paper 1.0 Title: Evaluating the Unconventional Monetary Policy in Stock Markets : A Semi-parametric Approach Author-Name: Shirota, Toyoichiro Abstract: This study analyzes the effect of a central bank’s intervention in stock markets, while allowing for nonlinearities and state dependencies, using a semi-parametric approach. A causal inference on such intervention is difficult because of the selfselective behavior of central banks. To address these problems, we apply the propensity score method in a time series context, exploiting stock price information of a single day. We find that first, there are demand pressure effects in stock markets if an intervention is large enough. Second, the effects are state-dependent and stronger during market downturns. Finally, a central bank’s interventions have a considerable impact on stock prices only when we take permanent demand pressure effects into consideration. Keywords: unconventional monetary policy, stock market intervention, demand pressure effect, semi-parametric approach, propensity score, Number: 322 Length: 22 pages Creation-Date: 2018-03 File-URL: http://hdl.handle.net/2115/68403 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/68403/1/DPA322.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:322 Template-Type: ReDIF-Paper 1.0 Title: What is the Major Source of Business Cycles : Spillovers from Land Prices, Investment Shocks, or Anything Else? Author-Name: Shirota, Toyoichiro Abstract: Some recent studies argue that spillovers from land prices into the aggregate economy are the crucial drivers of business cycles. Other studies stress the importance of investment shocks at business cycle frequencies. This study evaluates these two strands of the literature in a single unified framework by estimating a New Keynesian dynamic stochastic general equilibrium model with a collateral constraint on investment financing. The results are twofold: (i) when these features are combined, neither shocks that drives most of land-price fluctuations nor investment shocks are the primary source of U.S. business cycles; and (ii) technology shocks play an important role in business cycles. Keywords: Source of business cycles, Land price dynamics, Investment shock, Collateral constraint, Bayesian estimation, Number: 323 Length: 20 pages Creation-Date: 2018-03 File-URL: http://hdl.handle.net/2115/68511 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/68511/1/DPA323.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:323 Template-Type: ReDIF-Paper 1.0 Title: Are Moderate Leviathans Harmful to Tax Coordination? Author-Name: Itaya, Jun-ichi Author-Name: Chikara, Yamaguchi Abstract: This paper investigates how the sustainability of partial tax coordination between several governments is affected when the governments' objective function is moderate Leviathan in that policymakers are neither entirely benevolent nor fully self-interested. We show that partial tax coordination is more likely to prevail when moderate Leviathan-type governments become more revenue-maximizing Leviathans. In this case, the increased intensity of fiscal externality due to different tax rates makes partial tax coordination more sustainable at the cost of the tax union member countries' well-being. Keywords: Tax coordination, moderate Leviathan, tax competition, Number: 325 Length: 9 pages Creation-Date: 2018-05 File-URL: http://hdl.handle.net/2115/70230 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/70230/1/DPA325.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:325 Template-Type: ReDIF-Paper 1.0 Title: What contributes to community building and sustainability enhancement in coworking spaces? Author-Name: Uda, Tadashi Author-Name: Abe, Tomokazu Abstract: The purpose of this study is to identify the factors that affect building community and maintaining/enhancing sustainability in coworking spaces, based on an almost complete enumeration which could help us grasp a true measure of the phenomenon. Community and sustainability could be key issues on coworking spaces. However, even empirical research dealing with both issues as well as discussions on the management of them is not hardly found while studies focusing on the spaces have steadily been accumulated mainly from the viewpoint of community such as user interaction. Therefore, we analyze the data obtained from 168 out of 365 spaces that are nearly all the operating coworking spaces in Japan (as of July 2014). As a result of that, we showoverall influential relationships on community and sustainability of the spaces, and present three types of the factors influencing those issues, which are named as alternative-oriented, balance-oriented, and trade-off. Keywords: coworking, coworking space, management, community, sustainability, complete enumeration, Number: 329 Length: 29 pages Creation-Date: 2018-09 File-URL: http://hdl.handle.net/2115/71531 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/71531/1/DPA329.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:329 Template-Type: ReDIF-Paper 1.0 Title: On Dynamic Gains from Free Trade : Discrete-time Infinite Horizon Case Author-Name: Kubota, Hajime Abstract: This paper shows the existence of gains from trade in a dynamic world free trade economy over a discrete-time infinite horizon with using Grandmont-McFadden's(1972) domestic income transfer policy which makes each consumer benefit from world free trade. For this purpose, this paper employs l∞, the space of all bounded sequences, as the underlying commodity space and l1, the　space of all summable sequences, as the price space, with following the general equilibrium analysis of infinite dimensional commodity spaces developed by Bewley(1972), Mas-Colell(1986), and　Zame(1987). Moreover, since gains from trade requires the comparison of two consumption bundles, one under free trade and the other under autarky, but transitivity of preferences assumed the　comparison of three consumption bundles, this paper also drops transitive preferences to establish gains from trade in this dynamic world economy. Furthermore, since this paper uses general consumption sets instead of the positive orthant l∞+, the argument finding an equilibrium price in l1, requires the exclusion condition to consumption sets and the mixture condition to the production set. This paper also drops the cheaper point assumption used in Grandmont-McFadden(1972) and replaces it with a variant of McKenzie's(1959, 1981, 2002) irreducibility assumption and the strong irreducibility assumption of Boy-McKenzie(1993), requiring the interrelatedness of consumers in the world economy. Number: 330 Length: 29 pages Creation-Date: 2018-09 File-URL: http://hdl.handle.net/2115/71624 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/71624/3/DPA330-.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:330 Template-Type: ReDIF-Paper 1.0 Title: On the use of the simplex method for a type of allocation problems Author-Name: Tanaka, Yoshihiro Abstract: In this study we discuss the use of the simplex method to solve allocation problems whose flow matrices are doubly stochastic. Although these problems can be solved via a 0-1 integer programming method, H.W. Kuhn [4] suggested the use of linear programming in addition to the Hungarian method. Specifically, we use the Birkhoff's theorem to prove that the simplex method enables solving these problems. We also provide insights how to obtain a partition that includes a particular unit. Keywords: allocation problems, Hall’s theorem, Birkhoff’s theorem, simplex method, Number: 331 Length: 8 pages Creation-Date: 2018-10 File-URL: http://hdl.handle.net/2115/71733 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/71733/1/DPA331.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:331 Template-Type: ReDIF-Paper 1.0 Title: Assessing the population-wide exposure to lead pollution in Kabwe, Zambia : blood lead level estimation based on survey data Author-Name: Hiwatari, Masato Author-Name: Yamada, Daichi Author-Name: Hangoma, Peter Author-Name: Narita, Daiju Author-Name: Mphuka, Chrispin Author-Name: Chitah, Bona Author-Name: Yabe, John Author-Name: Nakayama, Shouta MM Author-Name: Nakata, Hokuto Author-Name: Choongo, Kennedy Author-Name: Ishizuka, Mayumi Abstract: In this study, we aim to quantitatively assess the population-wide exposure to lead pollution in Kabwe, Zambia. While Kabwe is known as one of the most significant cases of environmental pollution in the world, the available information does not provide a representative figure on residents’ lead poisoning conditions. To obtain a representative figure, we estimate blood lead level (BLL) of the representative sample of Kabwe by combining two datasets: BLL data collected based on residents’ voluntary participation to blood sampling and socioeconomic data collected for approximately 900, randomly chosen households that represent Kabwe population. The results show that the representative mean BLL is slightly lower than the one observed in previous studies but a few times higher than the recent standard BLL of 5μg/dL above which health risks become significant. Number: 338 Length: 28 pages Creation-Date: 2019-05 File-URL: http://hdl.handle.net/2115/74300 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/74300/4/DPA338-h.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:338 Template-Type: ReDIF-Paper 1.0 Title: Trade Policy with Intermediate Inputs Trade Author-Name: Qasim, Ahmed Waqar Author-Name: Itaya, Jun-ichi Abstract: The paper aims to characterize the tariff policy for final goods as well as for intermediate inputs in the model of heterogeneous firms. We developed a theoretical model to show how the tariff on final goods and intermediate inputs affect the welfare, productivity, and the entry of firms in a country. We formulate the tariff level selection choice available to the policymaker with respect to four policy experiments. These policy experiments include; unilateral tariff selection, cooperative tariff selection, non-cooperative tariff selection, and political tariff selection. Our results show that at the Stackelberg equilibrium, which results from the unilateral tariff selection, the policy level selected by the leader is higher compared to the rest of the experiments. While, in the case of cooperation, free trade will be the equilibrium outcome. Since, the welfare gains of one country come at the cost of others, therefore, zero tariffs are the optimal strategy for both countries. At Nash equilibrium, which results of non-cooperative tariff policy selection, both countries select policy level simultaneously and applied positive tariff rates for both intermediate inputs and final goods. Lastly, at political equilibrium, which results after considering lobby by the heterogeneous firms, the policy level selection diverges from benchmark unilateral level. To illustrate our tariff policy formulations quantitively, we use the US import data to estimate the policy levels. These estimates are then compared the factual tariff rates to evaluate the degree of political interference of lobbying firms in the policy level selection. Keywords: intermediate inputs, heterogeneous firms, trade policy, lobbying firms, Number: 342 Length: 1 pages Creation-Date: 2019-10 File-URL: http://hdl.handle.net/2115/76156 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/76156/1/DPA342.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:342 Template-Type: ReDIF-Paper 1.0 Title: Trade and Welfare in General Equilibrium : A Discrete-time Infinite Horizon Case Author-Name: Kubota, Hajime Abstract: This paper extends the results on trade and welfare obtained in Ohyama(1972) in the case of a traditional world economy with a finite number of goods to the one of a world economy over a discrete-time infinite horizon with l1 , the space of all bounded sequences, as the underlying commodity space. The case with l1 is a typical special case of economies with infinite number of goods. In this paper, it is shown that the main results ottained in Ohyama(1972) still hold in the world economy over a discrete- time infinite horizon by following the method used in Ohyama(1972). It turns out that Ohyama(1972)'s method is, indeed, very general in a sense that it also applies to more general cases including economies with infinitely many goods. Number: 343 Length: 16 pages Creation-Date: 2019-11 File-URL: http://hdl.handle.net/2115/76253 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/76253/1/DPA343.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:343 Template-Type: ReDIF-Paper 1.0 Title: Family Size and Educational Attainment : The Case of China Author-Name: Li, Honghui Author-Name: Hiwatari, Masato Abstract: In China, the population policy has been a major item on the political agenda since the early 1970s. Given the importance of human capital as an engine for economic growth, the question of how changes in birth rates affect human capital is particularly important for macroeconomic policy. Extant studies have presented contrasting views on the relationship between the number of children and educational investment in households. Some suggest a negative relationship due to the quantity/quality trade-off occasioned by limited resources within the family, while other studies point out a positive relationship caused by economies of scale. This study empirically analyzes the relationship between the number of children and educational attainment in households in China. More specifically, we estimate the effect of the number of siblings on the number of education years among individuals born since 1970, using the China General Social Survey (CGSS) and the Chinese Household Income Project Survey (CHIP). We estimate the causal impact of the number of siblings by exploiting exogenous variation in the number of siblings caused by family planning policies (“Later, Longer, Fewer”) that started in the early the 1970s. The results support the assertion that the number of siblings has a negative effect on educational attainment in China. Keywords: Quantity-quality trade-off, Demographic Economics, Education, Fertility, Family Planning, China, Number: 353 Length: 27 pages Creation-Date: 2020-12 File-URL: http://hdl.handle.net/2115/79931 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/79931/1/DPA353.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:353 Template-Type: ReDIF-Paper 1.0 Title: Note on alternative work arrangements, tasks, and compensations : Evidence from a quasi-natural experiment Author-Name: Shirota, Toyoichiro Abstract: This note estimates a Mincerial equation to disentangle the effect of alternative work arrangements on wage premiums using an anonymized microdata and a quasi-experimental event of labor market deregulation in Japan. This study focuses on tasks of workers. The estimation results indicate that (i) alternative work arrangements equalize wage premiums between major metropolitan areas and other areas, (ii) alternative work arrangements equalize negative female premiums between routine-manual tasks and other tasks, and (iii) alternative work arrangements don't affect the returns to education and work experience. Keywords: Alternative work arrangements, tasks, wage premium, Number: 355 Length: 11 pages Creation-Date: 2020-12 File-URL: http://hdl.handle.net/2115/80121 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/80121/1/DPA355.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:355 Template-Type: ReDIF-Paper 1.0 Title: Bankruptcy Prediction Model Based on Business Risk Reports : Use of Natural Language Processing Techniques Author-Name: Rasolomanana, Onjaniaina Mianin'Harizo Abstract: The purpose of this study is to assess how useful risk information is in bankruptcy prediction, by performing a sentiment analysis of the texts. The proposed method involves the use of Natural Language Processing (NLP) and machine learning techniques. The results show that neural networks performed better than other classifiers, with a classification accuracy of 96.15% for this particular text classification problem. This work demonstrates that business risks reports carry information that helps predict the likelihood of bankruptcy. Keywords: Bankruptcy prediction, Business risk, Natural language processing, NLP, Sentiment analysis, Neural Networks, Number: 358 Length: 14 pages Creation-Date: 2021-04 File-URL: http://hdl.handle.net/2115/81088 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/81088/1/DPA358.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:358 Template-Type: ReDIF-Paper 1.0 Title: ENSEMBLE NEURAL NETWORK USING A SMALL DATASET FOR THE PREDICTION OF BANKRUPTCY : COMBINING NUMERICAL AND TEXTUAL DATA Author-Name: Rasolomanana, Onjaniaina Mianin’Harizo Abstract: This paper presents an ensemble neural network using a small data set in the context of bankruptcy prediction. The individual models of the ensemble use different data of different types. We compare the performance of three neural network models: one using a single type of data, one using a combination of both data in a single data frame, and one using ensemble learning. The results show that the ensemble model outperformed the individual model and the combined model. This suggests that with scarce training data, especially when using different types of data, ensemble neural network can improve the level of prediction accuracy. Keywords: ensemble neural network, small dataset, combined data, bankruptcy prediction, Number: 361 Length: 11 pages Creation-Date: 2021-10 File-URL: http://hdl.handle.net/2115/82952 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/82952/1/DPA361.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:361 Template-Type: ReDIF-Paper 1.0 Title: The Dynamics of Takeovers through Exchange Offers in the Presence of Competition Author-Name: Miyata, Ryo Author-Name: Suzuki, Teruyoshi Author-Name: Yagi, Kyoko Abstract: This study examines the characteristics of takeovers in the presence of competition using a threestage model. We first investigate the property of the equilibrium of mergers and takeovers in a frictionless market, and then analyze the effect that the existence of the competitors had on this process. We apply a general surplus function, rather than a specific one, eliminating the modifying effects of this factor from our study. Our model predicts that the existence of heavy competition in the takeover increases the number of unsuccessful or incomplete deals. Furthermore, we find that the shareholders of the target in a competitive market can choose the timing of accepting an offer, without the need to observe the surplus benefit of the deal. Our model shows that the presence of competition does not always provide the target shareholders with an advantage. Keywords: Merger and acquisitions, real options, competitions, Number: 362 Length: 29 pages Creation-Date: 2022-03 File-URL: http://hdl.handle.net/2115/84704 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/84704/1/DPA362.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:362 Template-Type: ReDIF-Paper 1.0 Title: Income effect of labor market participation by married women in Japan Author-Name: Abe, Yukiko Abstract: Does the high income of the husband explain the low labor market participation by highly-educated women in Japan? In this paper, I examine the income effect gradient of participation using the Employment Status Survey. Negative income effect –the pattern that a high income of the husband decreases labor market participation by the wife– is present for the employment-to-population ratio for annual income above 4 million yen. Negative income effect becomes much weaker when I separate regular and non-regular employment. When I separate regular and non-regular employment, the income effect and other supply variables explain only a small fraction of the differences between participation rates of college graduates and high school graduates. Keywords: income effect, female employment, Japan, Number: 372 Length: 25 pages Creation-Date: 2024-02 File-URL: http://hdl.handle.net/2115/91234 File-Format: text/html File-URL: https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/91234/3/DPA372.pdf File-Format: application/pdf Handle: RePEc:hok:dpaper:372