The needs of Japanese industry and engineering education

Japan experienced a miraculous reconstruction after the second world war partly due to the far-sighted support of the victors, especially the United States, and China, who did not divide the country or demand reparations, and partly due to the unique inherent qualities of the Japanese people.The Japanese race has developed its national identity from a combination of the country's location, climate and the circumstances of its some 1000 year history. As a result the people of Japan are truly a single race, for the most part uniform in experience, culture and language with a strong domestic orientation. From an educational viewpoint, the Japanese are historically good learners. However, they are traditionally bad when it comes to generating new ideas by applying theory for creative purposes.A simple process of (1) follow, (2) catch up and (3) equal or surpass describes the development of the high-tech industry in Japan. This process has made the most of the Japanese people's ability to absorb information as well as their single-minded determination to achieve goals and their propensity for concentrated effort. As the automobile and semi-conductor industries illustrate, the Japanese have unequalled expertise when it comes to adopting technology from advanced industrial nations overseas, perfecting it and making it their own.The challenge for the Japanese people, now that the catch-up process is all but completed, is to continue their progress by generating their own innovative ideas. In addition, the Japanese must develop a more global orientation and consider the needs of foreign markets in new product development. This evolution must take place in an atmosphere of international sharing, co-operation and partnership.In terms of education, the traditional good learner with a domestic orientation must be taught how to be a good original thinker with an international viewpoint.The engineering system in Japan has been placed against this background and is examined from both an historic and a futuristic perspective.     

Did Japan's shopping coupon program increase spending?

In March 1999, 31 million “shopping coupons” worth 20,000 yen each were distributed to Japanese families with children and to the elderly. The coupons expired after six months and could only be used within the recipient's local community. We use variation in the number of children across families and in the number of recipients across prefectures to measure the effect of the coupons on spending. We find that coupons had a positive effect on spending on semi-durables, but no effect on spending on nondurables or services. The marginal propensity to consume on semi-durables was 0.1–0.2 when the coupons were distributed in March. The results using regional variation provide stronger evidence that spending did not fall after the coupons had been redeemed.     

The effects of consumption externalities in an R&D-based growth model with endogenous skilled and unskilled labor supply

We examine the roles of consumption externalities in a variety-expansion growth model. By assuming that the R&D sector is more skilled labor intensive than the consumption goods sector, we extend the model of Doi and Mino (J Econ Dyn Control 32:3055?C3083, 2008) so that both the skilled and unskilled labor supplies are endogenously determined through the skill acquisition process. We show that some results of Doi and Mino are influenced by our modification. For example, in contrast to Doi and Mino who show that the R&D subsidy can have a negative growth effect in the presence of consumption externalities, we show that the R&D subsidy has unambiguously positive growth effects, regardless of the presence of consumption externalities. Further, it is shown that the presence of consumption externalities influences various aspects of the economy including the wage inequality and the incentive of skill acquisition.     

The Calendar Structure of the Japanese Stock Market: The ‘Sell in May Effect’ versus the ‘Dekansho‐bushi Effect’

We report on a seasonal pattern that has persisted in the Japanese stock market for more than half a century: Mean stock returns are significantly positive for months during the first half of the calendar year and significantly negative for months during the second half. Dubbed the Dekansho‐bushi effect, this seasonality is independent of other known calendar anomalies, such as the so‐called January effect. The Dekansho‐bushi effect should be distinguished from the ‘sell in May effect,’ because Japanese stocks perform well in June and poorly in November and December. The Dekansho‐bushi effect varies in magnitude among firms and is particularly significant among small firms with high book‐to‐market ratios. Nonetheless, the effect exists, regardless of a company's size or book‐to‐market ratio.     

Competitive price paths of an exhaustible resource with increasing extraction costs

The paper analyzes the competitive growth paths of an economy with an exhaustible resource which is subject to increasing extraction costs, assuming perfect foresight. It establishes equivalence among the competitive present-value maximization condition for deposit holders, the generalized Hotelling rule, and the Ricardian royalty-price structure. It also proves uniqueness of a competitive growth path for the case where a backstop technology exists, in order to give some validity to the assumption of perfect foresight.     

Securely implementable social choice functions in divisible and nonexcludable public good economies with quasi‐linear utility functions

This paper studies the possibility of secure implementation (Saijo et al., 2007) in divisible and nonexcludable public good economies with quasi‐linear utility functions. In these economies, although Saijo et al. (2007) showed that the Groves mechanisms (Groves, 1973) are securely implementable when the valuation functions of the public good are (i) differentiable, concave, and (ii) identified with a real number, respectively, this paper shows the following negative result: securely implementable social choice functions are dictatorial or constant when the valuation functions of the public good are strictly increasing and strictly concave.     

Comparison of attitudes towards school lunch by elementary school children in Japan,Korea and Thailand

The attitudes of elementary school children towards school lunch among three Asian countries, namely Japan, Korea and Thailand, were compared. More school children in Japan felt that their teachers gave them advice during the school lunch programme. Japanese and Korean teachers advised their children to eat as much as possible of the lunch. Korean children may be a little more obedient with regard to heeding the advice. However, few teachers in Thailand gave the children advice over eating lunch, and the Thai children looked forward to and enjoyed the school lunch. The different responses between Thailand and other two countries may be attributed in part to the differences in the teachers' instruction in the programme. Elementary school teachers, especially in Thailand and Korea, have to take more classes in food and nutrition in universities or colleges, and positively take part in the school lunch programme.     

Non-paternalistic Altruism and Utility Interdependence

This paper clarifies the notion of non-paternalistic altruism through the use of utility aggregators. It presents conditions for the existence of non-paternalistically altruistic utility functions and provides a complete characterization of such utility functions. The results are used to generalize the Second Theorem of Welfare Economics and to prove the existence of an equilibrium in a game of voluntary gift-giving.
JEL Classification Nos.: D11, D64.