Is the development of the agro-processing industry pro-poor?: The case of Thailand

We examine how the development of the agro-processing industry contributed to poverty reduction in Thailand. The effects on farmers’ income are emphasized because most of the poor in Thailand are farmers. The development of the agro-processing industry could improve farmers’ income through two channels: (i) the purchase of agricultural products; and (ii) the employment of the poor farmers at factories. We show that the development of the agro-processing industry, which also played a leading role in the high economic growth of the Thai economy, contributed to poverty reduction through both of the two channels. It was hence pro-poor.     

PLM education in production design and engineering by e-Learning

These days more attention is being paid to Product Lifecycle Management (PLM) using a technique for managing total product planning, design, manufacturing, sales, and disposal. We researched business processes and education curriculum of the PLM system in manufacturing businesses. We designed the curriculum of PLM education and developed part of a lesson. Most importantly, e-Learning is shown to be an effective tool for achieving educational objectives. We found that not only knowledge and theory but also practical education methods using case studies in an e-Learning environment are necessary for human resources to develop effective PLM.     

A Qualitative Analysis to Determine the Domains and Skills Necessary to Lead in Public Health

Leadership programs in public health have been declining in numbers since 2012. The decline in training programs could be due to the lack of outcome‐based results and the lack of a manageable set of standardized skills needed for public health leadership. A comprehensive study was completed in two phases to determine if the current model of public health leadership institutes is effective at generating outcome‐based results. The following paper will focus on the first phase of the study. The first phase included a qualitative analysis to determine the domains, definitions, and skills needed to lead. An analysis of the skills, domains, definitions, and traits included in five established and commonly used leadership models/theories in public health leadership development (Transformational, Servant, Appreciative, Collaborative, and Emotional Intelligence leadership) plus the National Public Health Leadership Development Network (NLN) Leadership for Community Health, Safety & Resilience Competency Framework was completed. Of the 161 different skills, definitions, traits, and/or competencies from the five leadership models and the NLN competency framework, 123 were determined to be related to one of six domains needed for leadership and were defined into 21 skills. The findings could lead to more uniformity in public health leadership development and evaluation.     

A substitution orbit model of competitive innovations

Successful innovation and diffusion of technology can be attributed to the identification of the orbit of emerging new technologies that complement or substitute for existing technologies. This dynamism resembles the co-evolution process in an ecosystem. In an ecosystem, in order to maintain sustainable development, the complex interplay between competition and cooperation, typically observed in predator-prey systems, create a sophisticated balance. Given that an ecosystem can be used as a masterpiece system, this sophisticated balance can provide suggestive ideas for identifying an optimal orbit of competitive innovations with complement or substitution dynamism.Prompted by such a sophisticated balance in an ecosystem, this paper analyzes the optimal orbit of competitive innovations and, on the basis of an application of Lotka-Volterra equations, it reviews substitution orbits of Japan's monochrome to color TV system, fixed telephones to cellular telephones, cellular telephones to mobile Internet access service, and analog to digital TV broadcasting. On the basis of substitution orbits analyses, it attempts to extract suggestions supportive to identifying an optimal policy option in a complex orbit leading to expected orbit.Key findings include policy options that are effective in controlling parameters for Lotka-Volterra equations leading to expected orbit.     

Dynamics of quote and deal prices in the foreign exchange market

We empirically investigate price fluctuations of yen-dollar exchange rate using the high-frequency data recorded in the electronic broking system for seven-year period. The distribution of quote price changes has symmetric fat-tails approximated by a power law; however, that of deal price is asymmetrical. The autocorrelation function and diffusion of price changes indicate that quote price exhibits anti-correlation feature in short time scale, whereas deal price is essentially uncorrelated. The bid-ask spread shows power-law distribution and long range temporal correlations similar to that observed in absoute price changes.      

Residential rents and price rigidity: Micro structure and macro consequences

Why was the Japanese consumer price index for rents so stable even during the period of the housing bubble in the 1980s? To address this question, we use a unique micro price dataset which we have compiled from individual listings (or transactions) in a widely circulated real estate advertisement magazine. This dataset contains more than 700,000 listings of housing rents over the last 20 years. We start from the analysis of microeconomic rigidity and then investigate its implications for aggregate price dynamics, closely following the empirical strategy proposed by Caballero (Caballero and Engel, 2007). We find that 90% of the units in our dataset had no change in rents per year, indicating that rent stickiness is three times as high as in the United States. We also find that the probability of rent adjustment depends little on the deviation of the actual rent from its target level, suggesting that rent adjustments are not state-dependent but time-dependent. These two results indicate that both the intensive and extensive margins of rent adjustments are small, resulting in a slow response of the CPI for rent to aggregate shocks. We show that the CPI inflation rate would have been higher by 1% point during the bubble period, and lower by more than 1% point during the period following the burst of the bubble, if Japanese housing rents were as flexible as those in the United States.     

The asset growth effect: Insights from international equity markets

Firms with higher asset growth rates subsequently experience lower stock returns in international equity markets, consistent with the U.S. evidence. This negative effect of asset growth on returns is stronger in more developed capital markets and markets where stocks are more efficiently priced, but is unrelated to country characteristics representing limits to arbitrage, investor protection, and accounting quality. The evidence suggests that the cross-sectional relation between asset growth and stock return is more likely due to an optimal investment effect than due to overinvestment, market timing, or other forms of mispricing.     

Competition in the presence of individual demand uncertainty

This article offers a tractable model of (oligopolistic) competition in differentiated product markets characterized by individual demand uncertainty. The main result shows that, in equilibrium, firms offer advance purchase discounts and that these discounts are larger than in the monopolistic benchmark. Competition reduces welfare by increasing the fraction of consumers who purchase in advance, that is, without (full) knowledge of their preferences.