Discussion Papers 2007

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Number Authors Title Date
CIRJE-F-535 Braun, R. Anton, Daisuke Ikeda and Douglas H. Joines "The Saving Rate in Japan: Why It Has Fallen and Why It Will Remain Low" December 2007
CIRJE-F-534 Chen, Joe, Yun Jeong Choi and Yasuyuki Sawada "Joint Liability Borrowing and Suicide" December 2007
CIRJE-F-533 Kubokawa, Tatsuya "Asymptotic Correction of Empirical Bayes Confidence Intervals in Small Area Estimation" December 2007
CIRJE-F-532 Nakamura, Hisashi "Strategic Default Jump as Impulse Control in Continuous Time" December 2007; Revised in February 2008
CIRJE-F-531 Matsuyama, Kiminori "A One-Sector Neoclassical Growth Model with Endogenous Retirement" December 2007
CIRJE-F-530 Ueda, Kazuo "Trying to Make Sense of the Bank of Japan's Monetary Policy since the Exit from Quantitative Easing" December 2007
CIRJE-F-529 Shiraya, Kenichiro and Akihiko Takahashi "Pricing and Hedging of Long-term Futures and Forward Contracts by a Three-Factor Model" November 2007; Revised in December 2007
CIRJE-F-528 Sato, Ryuzo and Tamaki Morita "Macro Dynamics and Labor-Saving Innovation: US vs. Japan" November 2007
CIRJE-F-527 Iwata, Shinichiro and Koji Karato "Homeless Networks and Geographic Concentration: Evidence from Osaka City" November 2007
CIRJE-F-526 Chen, Joe, Yun Jeong Choi and Yasuyuki Sawada "How Is Suicide Different in Japan?" November 2007
CIRJE-F-525 Kubokawa, Tatsuya and Muni S. Srivastava "Akaike Information Criterion for Selecting Variables in a Nested Error Regression Model" November 2007
CIRJE-F-524 Hakamada, Takeshi, Akihiko Takahashi and Kyo Yamamoto "Selection and Performance Analysis of Asia-Pacific Hedge Funds" November 2007
CIRJE-F-523 Matsushima, Hitoshi "Behavioral Aspects of Implementation Theory" October 2007
CIRJE-F-522 Iwata, Shinichiro and Koji Karato "Homeless Networks: Testing Peer and Homed Networks Against Location Choice" October 2007
CIRJE-F-521 Kobayashi, Keiichiro and Noriyuki Yanagawa "Bank Distress and the Borrowers' Productivity" October 2007
CIRJE-F-520 Iwata, Shinichiro and Hisaki Yamaga "Land Tenure Security and Home Maintenance: Evidence from Japan" September 2007
CIRJE-F-519 Matsushima, Hitoshi "Detail-Free Mechanism Design in Twice Iterative Dominance: Large Economies" September 2007
CIRJE-F-518 Matsushima, Hitoshi "Role of Honesty in Full Implementation" September 2007
CIRJE-F-517 Nakabayashi, Masaki and Tetsuji Okazaki "The Role of the Courts in Economic Development: The Case of Prewar Japan" September 2007; Revised in October 2010
CIRJE-F-516 Tanimoto, Masayuki "From Peasant Economy to Urban Agglomeration : The Transformation of 'Labour-intensive Industrialization' in Modern Japan" September 2007
CIRJE-F-515 Takahashi, Makoto, Yasuhiro Omori and Toshiaki Watanabe "Estimating Stochastic Volatility Models Using Daily Returns and Realized Volatility Simultaneously" September 2007; Revised in March 2008
CIRJE-F-514 Nakajima, Jouchi and Yasuhiro Omori "Leverage, heavy-tails and correlated jumps in stochastic volatility models" September 2007; Revised in January 2008
CIRJE-F-513 Takahashi, Akihiko and Akira Yamazaki "Efficient Static Replication of European Options for Exponential Levy Models" September 2007
CIRJE-F-512 Sawada, Yasuyuki and Satoshi Shimizutani "Consumption Insurance and Risk-Coping Strategies under Non-Separable Utility: Evidence from the Kobe Earthquake" September 2007
CIRJE-F-511 Mochida, Nobuki "Measuring Fiscal Needs: Japan's Experiences" August 2007
CIRJE-F-510 Tsukuma, Hisayuki and Tatsuya Kubokawa "Modifying Estimators of Ordered Positive Parameters under the Stein Loss" August 2007
CIRJE-F-509 Takahashi, Akihiko "An Asymptotic Expansion Approach in Finance" August 2007; Revised in April 2009
CIRJE-F-508 Omori, Yasuhiro and Toshiaki Watanabe "Block sampler and posterior mode estimation for a nonlinear and non-Gaussian state-space model with correlated errors" August 2007
CIRJE-F-507 Omori, Yasuhiro and Toshiaki Watanabe "Block Sampler and Posterior Mode Estimation for Asymmetric Stochastic Volatility Models" August 2007
CIRJE-F-506 Miyawaki, Koji and Yasuhiro Omori "Duality-Based Bayesian Analysis of Residential Gas Demand under Decreasing Block Rate Pricing" August 2007; Revised in September 2007
CIRJE-F-505 Kano, Takashi "Habit Formation and the Present-Value Model of the Current Account: Yet Another Suspect" August 2007
CIRJE-F-504 Ikeda, Ryoichi and Takao Kobayashi "Why some Distressed Firms Have Low Expected Returns" July 2007; Revised in September 2007
CIRJE-F-503 Kunitomo, Naoto and Kentaro Akashi "The Conditional Limited Information Maximum Likelihood Approach to Dynamic Panel Structural Equations" July 2007
CIRJE-F-502 Fukuda, Shin-ichi "Knightian Uncertainty and Poverty Trap in a Model of Economic Growth" June 2007
CIRJE-F-501 Behrens, Kristian, Cem Ertur and Wilfried Koch "'Dual' gravity: Using spatial econometrics to control for multilateral resistance" June 2007
CIRJE-F-500 Okazaki, Tetsuji "Economic Development, Income Inequality and Social Stability in Prewar Japan: A Prefecture-level Analysis" June 2007
CIRJE-F-499 Anderson, T. W. and Naoto Kunitomo "On Likelihood Ratio Tests of Structural Coefficients: Anderson-Rubin (1949) revisited" May 2007
CIRJE-F-498 Sawada, Yasuyuki, Kazumitsu Nawata, Masako Ii and Jeong-Joon Lee "Did the Credit Crunch in Japan Affect Household Welfare? An Augmented Euler Equation Approach Using Type 5 Tobit Model" May 2007
CIRJE-F-497 Takahashi, Akihiko and Kohta Takehara "Fourier Transform Method with an Asymptotic Expansion Approach: an Application to Currency Options" May 2007
CIRJE-F-496 Nakajima, Kentaro and Takatoshi Tabuchi "Estimating Interregional Utility Differentials" May 2007
CIRJE-F-495 Hamao, Yasushi, Takeo Hoshi and Tetsuji Okazaki "Listing Policy and Development of the Tokyo Stock Exchange in the Pre-War Period" May 2007
CIRJE-F-494 Nakayama, Keita and Akihiko Takahashi "A Factor Allocation Approach to Optimal Bond Portfolio" May 2007
CIRJE-F-493 Aoki, Masanao and Hiroshi Yoshikawa "Non-Self-Averaging in Macroeconomic Models: A Criticism of Modern Micro-founded Macroeconomics" May 2007; Revised in July 2008
CIRJE-F-492 Matsushima, Hitoshi "Tit-For-Tat Equilibria in Discounted Repeated Games with Private Monitoring" April 2007
CIRJE-F-491 Kandori, Michihiro "Weakly Belief-Free Equilibria in Repeated Games with Private Monitoring" April 2007; Revised in March 2009
CIRJE-F-490 Iwamoto, Yasushi and Akihisa Shibata "International and Intergenerational Aspects of Capital Income Taxation in an Endogenously Growing World Economy" April 2007
CIRJE-F-489 Fukuda, Shin-ichi and Yoshifumi Kon "Liquidity Risk Aversion, Debt Maturity, and Current Account Surpluses: A Theory and Evidence from East Asia" April 2007
CIRJE-F-488 Chib, Siddhartha, Yasuhiro Omori and Manabu Asai "Multivariate Stochastic Volatility" April 2007; Revised in May 2007
CIRJE-F-487 Hannah, Leslie "Pioneering Modern Corporate Governance: a View from London in 1900" March 2007
CIRJE-F-486 Hannah, Leslie "Logistics, Market Size and Giant Plants in the Early 20th Century: A Global View" March 2007
CIRJE-F-485 Kurosaki, Takashi, Yasuyuki Sawada, Asit Banerji, and S.N. Mishra "Rural-Urban Migration and Urban Poverty: Socio-Economic Profiles of Rickshaw Pullers and Owner-Contractors in North-East Delhi" March 2007
CIRJE-F-484 Sawada, Yasuyuki and Michael Lokshin "Obstacles to School Progression in Rural Pakistan: An Analysis of Gender and Sibling Rivalry Using Field Survey Data" March 2007
CIRJE-F-483 Sato, Ryuzo and Tamaki Morita "Quantity or Quality: The Impact of Labor-Saving Innovation on US and Japanese Growth Rates, 1960-2004" March 2007
CIRJE-F-482 Khan, Haider A. and Mariko Frame "China's Energy Security: National Security, Ecological Balance and Regional Co-operation" March 2007
CIRJE-F-481 Omori, Yasuhiro "Efficient Gibbs Sampler for Bayesian Analysis of a Sample Selection Model" March 2007; Revised in March 2007
CIRJE-F-480 Khan, Haider A. and Zulfiqar Larik "Globalization and Regional Co-operation in South Asia: A Political and Social Economy Approach" March 2007
CIRJE-F-479 Magnus, Jan R. "The asymptotic variance of the pseudo maximum likelihood estimator" March 2007
CIRJE-F-478 Danilov, Dmitry and Jan R. Magnus "On the estimation of a large sparse Bayesian system: the Snaer program" February 2007
CIRJE-F-477 Khan, Haider A. "Social Accounting Matrix: A Very Short Introduction for Economic Modeling" February 2007
CIRJE-F-476 Magnus, Jan R. and Karim M. Abadir "On some definitions in matrix algebra" February 2007
CIRJE-F-475 Khan, Haider A. "Women's Rights as Human Rights : A Political and Social Economy Approach within a Deep Democratic Framework" February 2007
CIRJE-F-474 Takahashi, Akihiko and Kohta Takehara "An Asymptotic Expansion Approach to Currency Options with a Market Model of Interest Rates under Stochastic Volatility Processes of Spot Exchange Rates" February 2007; Revised in August 2007, January 2009
CIRJE-F-473 Tsukuma, Hisayuki and Tatsuya Kubokawa "The Stein phenomenon in simultaneous estimation of normal precisions" February 2007; Revised in November 2007
CIRJE-F-472 Srivastava, Muni S. and Tatsuya Kubokawa "Akaike Information Criterion for Selecting Components of the Mean Vector in High Dimensional Data with Fewer Observations" February 2007; Revised in November 2007
CIRJE-F-471 Nakamura, Tsuyoshi and Hiroshi Ohashi "Productivity, Capital Utilization, and Intra-firm Diffusion: A Study of Steel Refining Furnaces" February 2007
CIRJE-F-470 Akram, Tanweer and Haider A. Khan "Dark Matter: Some Reflections on the Current Account Debate" February 2007
CIRJE-F-469 Frame, Mariko and Haider A. Khan "Deep Democracy ; A Political and Social Economy Approach" February 2007
CIRJE-F-468 Khan, Haider A "A Theory of Deep Democracy and Economic Justice in the Age of Postmodernism" February 2007
CIRJE-F-467 Matsushita, Yukitoshi "t-Tests in a Structural Equation with Many Instruments" February 2007
CIRJE-F-466 Matsushita, Yukitoshi "Approximate Distributions of the Likelihood Ratio Statistic in a Structural Equation with Many Instruments" February 2007
CIRJE-F-465 Hannah, Leslie "What did Morgan's Men really do?" January 2007
CIRJE-F-464 Khan, Haider A. "Sustainability and Surplus" January 2007
CIRJE-F-463 Khan, Haider A. "Social Accounting Matrices(SAMs) and CGE Modeling: Using Macroeconomic Computable General Equilibrium Models for Assessing Poverty Impact of Structural Adjustment Policies" January 2007
CIRJE-F-462 Khan, Haider A. "Trade Liberalization and Poverty Reduction in General Equilibrium: The Role of Labor Market Structure" January 2007
CIRJE-F-461 Nakata, Hiroyuki and Yasuyuki Sawada "Demand for non-life insurance: A cross-country analysis" January 2007
CIRJE-F-460 Hannah, Leslie "The Divorce of Ownership from Control from 1900: Re-calibrating Imagined Global Historical Trends" January 2007

Number Authors Title Date
CIRJE-J-189 Okazaki, Tetsuji "Supplier Network and Aircraft Production in Japan, 1939-1945: A Case of Mitsubishi Heavy Industries, Ltd." December 2007
CIRJE-J-188 Abe, Makoto "An Individual Level RF Analysis based on Consumer Behavior Theory: A Hierarchical Bayes Framework on the Pareto/NBD Model" November 2007
CIRJE-J-187 Obinata, Takashi "Value Relevance of Earnings Changes and Levels" October 2007
CIRJE-J-186 Kubokawa, Tatsuya "Theory of Linear Mixed Models and its Applications to Small Area Estimation" October 2007
CIRJE-J-185 Shiraya, Kenichiro, Akihiko Takahashi and Yosuke Fukunishi "Pricing and Hedging of Long-Term Futures and Forward Contracts by a Three-Factor Model" October 2007
CIRJE-J-184 Mochida, Nobuki  "Local VAT in Japan: sustainable foundation for future" August 2007
CIRJE-J-183 Mochida, Nobuki  "Reform of Local Bonds System in Japan" August 2007
CIRJE-J-182 Hirose, Sumio, Tomotaka Fujita and Noriyuki Yanagawa "Information Revealing Effects of Anti-takeover Amendments: A case of Japan in 2005" August 2007
CIRJE-J-181 Obinata, Takashi  "The Usefulness of Accounting Information and the Valuation of the Firm ―― A Reexamination of the Efficient Market Hypothesis ――" August 2007
CIRJE-J-180 Ikeda, Ryoichi, Takao Kobayashi "Closed-form Solution of Bond Prices with Postponement of Redemption" July 2007
CIRJE-J-179 Ikeda, Ryoichi and Takao Kobayashi "A Structural Approach without Path Dependency" June 2007
CIRJE-J-178 Okuno-Fujiwara, Masahiro, Hirokazu Takizawa and Yasunori Watanabe "Increasing Complexity of Artifacts and the Role of Product Architecture" June 2007
CIRJE-J-177 Obinata, Takashi  "Value Relevance of Earnings Information in Japan ―― A Survey: The Empirical Findings by Foreign Researchers ――" May 2007
CIRJE-J-176 Kobayashi, Takao, Jeffrey Bohn and Risa Sai "Global Risk Sharing: Toward a stronger Financial System" April 2007
CIRJE-J-175 Masuyama, Jun and Makoto Abe "Customer-Based Brand Portfolio Analysis" April 2007 
CIRJE-J-174 Okazaki, Tetsuji  "An Introduction to Historical Comparative Institutional Analysis" March 2007
CIRJE-J-173 Omori, Yasuhiro and Toshiaki Watanabe "Markov chain Monte Carlo method and its application to the stochastic volatility model" March 2007
CIRJE-J-172 Okuno-Fujiwara, Masahiro, Takako Fujiwara-Greve and Nobue Suzuki "Social Norms an Voluntary Cooperations" January 2007 

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