Commercial banking in the United States: Japanese Commercial banks' presence

Presence of foreign commercial banks, especially the Japanese Commercial banks, in the United States has become the subject of much attention. As of December 1990, assets owned by branches of foreign banks amount to $626.4 billion of which Japanese bank branches hold a 59.4 percent share and of the $154.5 billion worth of assets held by subsidiaries of foreign banks, the share held by Japanese-owned subsidiaries is 41.2 percent. This paper presents an economic analysis of the situation drawing upon the comparative behavior patterns with respect to direct foreign investment of Japanese and U.S. commercial banks.     

Antidumping and tariff Jumping: Japanese firms’ DFI in the European union and the United States

Antidumping and Tariff Jumping: Japanese Firms’ DFI in the European Union and the United States. — The relationship between EU and US antidumping measures and direct foreign investment (DFI) is examined through a micro-econometrical analysis of Japanese firms’ plant establishments in the electronics industry. After controlling for firm and industry capabilities, market size, transport cost, and product cycle effects, antidumping actions are found to have a substantial positive effect on Japanese DFL EU antidumping is roughly twice as likely to lead to tariffjumping DFI as US antidumping, which is ascribed to marked differences in antidumping procedures. Tariff jumping makes antidumping ineffective in combatting anticompetitive behaviour by foreign firms and may result in increased market concentration.     

A possible approach to forecasting the sales volume of mass-produced cars (by the example of the United States car market)

The paper substantiates the economic significance of forecasting the sales volume of mass-produced cars The trends towards the retirement (write-off) of mass-produced cars and growth of the car fleet, caused by the population growth and increase in supply of cars to the population that determine the potential sales volume in aggregate, are considered as exemplified by the data of the United States car market. The author’s predicted estimates are compared with actual data.     

Migration of professional manpower to the United States

The results of an investigation of the immigration of professionals to the United States are presented. The data concern a sample of professionals from 17 developing and developed countries who were immigrants in 1969. Both direct and indirect immigration are considered, and special attention is paid to the constraints on professional immigration and the adjustment of status imposed by immigration policies. The results suggest that the relative wage rate is more strongly related to the brain drain than is relative income and that more restrictive policies concerning labor certification would probably prove effective in reducing the student brain drain in the short term.     

Trade in the shadow of power: Japanese industrial exports in the interwar years

During the interwar years, Japanese industrialization accelerated alongside the expansion of industrial exports to regional markets. Trade blocs in the interwar years were used as an instrument of imperial power to foster exports and as a substitute for productivity to encourage industrial production. The historiography on Japanese industrialization in the interwar years describes heavy industries’ interests in obtaining access to wider markets to increase economies of scale and reduce unit costs. However, this literature provides no quantitative evidence that proves the success of those mechanisms in expanding exports. In this article we scrutinize how Japan—a relatively poor country—used colonial as well as informal power interventions to expand regional markets for its exports, especially for the most intensive human capital sector of the industrializing economy. Our results show that Japanese exports in 1938 would have been around one-third smaller had no empire ever existed, which indicates an outstanding effect of empire in the international context.     

An empirical assessment of the preconditions of Japanese manufacturing foreign direct investment in the United States

An Empirical Assessment of the Preconditions of Japanese Manufacturing Foreign Direct Investment in the United States. — This study undertook a multivariate regression analysis of Japanese foreign direct investment in the US (FDIUS), based on firm- and industry-specific data. Firm size was a positive and significant explanatory variable of firms’ completed transactions as well as their additions to investment value. Firms’ overall profit was a positive and significant indicator of firms’ addition to investment value, but not their completed transactions. Firms’ return on assets was generally a positive, albeit insignificant indicator of FDIUS. Three industry-specific variables (prior exports to the US, industry concentration, and technological intensity) were examined and all were positive but insignificant indicators of FDIUS.     

美国：险滩已过

由于全球大宗商品价格的上涨，美国的进出口贸易逆差首次出现扩大。工业生产似乎也出现转好的趋势。银行压力测试的结果又极大的提振了投资者的信心。但是，目前最令美国人困扰的事情之一，应当是持续增长的失业水平，尽管政府部门努力提供更多岗位，整体就业人数仍在减少。就业危机凸显了经济衰退，如果不妥善解决，将对长远发展不利。除此之外，美国企业似乎也得学会调整其战略与服务。因为就目前来看，铺张浪费的美国人正在日益节俭。     

Academic Pay in the United Kingdom and the United States: The Differential Returns to Productivity and the Lifetime Earnings Gap

This paper estimates earnings functions for two samples of U.K. and U.S. academic economists. Despite significant differences in compensation schemes, a comparably specified human capital earnings model does a good job explaining earnings variations for academic economists in both countries. Our estimates suggest that rewards for research are more immediate and direct in the United States. Because of the national salary scale, the payoffs to experience and seniority are greater and the payoffs to research are lower in the United Kingdom than in the United States. After adjusting for productivity and demographic factors, we find that U.S. economists are paid approximately 40% more than otherwise equivalent economists in the United Kingdom. Simulating career age-earnings profiles for both markets, we find that the earnings gap widens with experience for relatively productive research economists and may even narrow with age for relatively less productive research economists. Nevertheless, the cumulative lifetime earnings foregone are substantial for research and nonresearch economists in the United Kingdom.     

Differential Tariffs and Income Inequality in the United States: Some Evidence from the States

Open Economies Review - This paper explores the macroeconomic and distributional consequences of consumption tariffs and materials tariffs. It highlights the contrasting effects of consumption and...     

美国：政策见效，经济转好

9月正值雷曼兄弟破产一周年，美国总统奥巴马借此机会发出承诺：虽然面临来自银行、监管机构和国会的反对，但他仍将推行金融改革。从去年九月的华尔街蔓延开的金融危机乃至经济危机，给美国乃至全世界的经济都带来的巨大的打击。但在现在来看，美国经济已经基本企稳，8月份道琼斯经济景气指数再次稳步上升，由7月份的33．6小幅升至35．5，生产者和消费者信心也都出现回升，虽然经济仍面临信贷紧缩、     

Japanese Foreign Direct Investment in Electrical Machinery and Appliances in the United States: A Combined Industrial Organization and Location Theory Approach

We analyse the effects of both ownership and location advantages on the size of foreign direct investment, by combining industrial organization and location theory approaches. The estimated results employing a truncated distribution model show that the parent company's managerial resources and the external economies in a located region between them determine the FDI size of Japanese electrical machinery and appliances firms. This result suggests that empirical studies, applying only the industrial organization theory approach, need to be complemented by the location theory approach.     

美国：经济出现回暖迹象

美国商务部公布数据显示，经过季．节因素调整后，第二季度国内生产总值（GDP）环比下降1．0％，相比于第一季度6．4％的降幅，美国经济的滑坡速度已经趋于温和。第二季度的GDP主要靠净出口与政府的财政刺激政策所提振，分别拉动了1．4％和1．1％；固定投资和去库存对GDP的拖累减弱，分别为-1．8％和-0．8％。     

亚太地区对美国出口、汇率波动及其影响

本文首先分析亚洲主要经济体对美国出口的商品构成,确定这些经济体在美国市场的竞争关系;利用日数据分析这些经济体货币的波动特点,采用协整技术建立汇率波动与对美国出口的数量关系。研究结果表明,汇率变化对出口贸易影响非常小,本币升值不可能减少经常项目的贸易顺差。