Technological diversification and assimilation of spillover technology: Canon's scenario for sustainable growth

Under the paradigm shift from an industrial society to an information society in the 1990s, contrary to the decrease of profits in Japan's electrical machinery firms, only Canon demonstrated its increasing trend. This contrasting performance corresponds to Canon's another contrast with respect to increasing technological diversification while reverse trends in other electrical machinery firms. These contrasts suggest us that Canon's technological diversification strategy can be the source of high level of its profits.Prompted by this hypothetical view, this paper analyzes Canon's scenario for sustainable growth and attempts to elucidate its technological diversification dynamism with special attention to its contribution to high level of profits. On the basis of the identification of the correlation between technological diversification and assimilation of spillover technology, comparative empirical analyses are conducted focusing on the consequence of technological diversification and development trajectory in Japan's leading electrical machinery firms over the last two decades.     

An econometric study of automated stabilization policies in Japan

Zusammenfassung Eine ?konometrische Studie über automatisierte Stabilisierungspolitik in Japan. — In der vorliegenden Abhandlung versucht der Autor, die Kontroverse über die Wirksamkeit der Stabilit?tspolitik (Stabilisierung durch Regelmechanismen oder durch Ermessensentscheidungen) aufzuhellen. Im Abschnitt I wird ein ?konometrisches Modell für die ?stop-go policy? entwickelt, wobei auch die gesch?tzten Ergebnisse diskutiert werden. Im Abschnitt II wird das Wesen der ?stop-go policy? in Japan w?hrend der Nachkriegsperiode unter Verwendung der Ergebnisse des vorhergehenden Kapitels dargestellt.

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Resumen Un estudio econométrico sobre la politica de estabilización automatizada en el Japon. — En el presente trabajo el autor trata de aclarar la controversia sobre la eficacia de una politica de estabilización (ya esté ésta sujeta a mecanismos automáticos o a decisiones discrecionales). La primera parte ofrece un modelo econométrico para la política ?stop and go? y la discusión de los parámetros estimados. En la segunda parte el autor présenta las características de la política ?stop and go? en el Japón en el periodo de la posguerra, para lo cual hace uso de los resultados obtenidos en la primera parte.

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Résumé Une étude économétrique de la politique de stabilisation automatisée au Japon. — Dans cet article l’auteur cherche à éclaircir la controverse concernant l’efficacité de la politique de stabilisation (stabilisation automatisée contre instruments discrétionnaires). Dans la première section, on présente un modèle économétrique pour la politique de ?stop-go?, y compris une discussion des résultats estimés. En utilisant les résultats de ce premier chapitre, on discute, dans la deuxième section, la nature de la politique de ?stop-go? telle qu’elle fut pratiquée au Japon pendant la période d’après-guerre.

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Riassunto Uno studio econometrico sulla politica di stabilizzazione automatizzata in Giappone. — Nel presente studio, l’autore cerca di chiarire la controversia sull’ efficacia della politica di stabilità (stabilizzazione per mezzo di meccanismi normativi o per mezzo di decisioni discrezionali). Nel primo capitolo viene sviluppato un modello econometrico per la ?stop-go-policy?, laddove sono discussi anche i risultati valutati. Nel secondo capitolo viene rappresentata l’essenza délia ?stop-go-policy? in Giappone durante il periodo postbellico applicando i risultati del capitolo precedente.

     

REGIONAL WATER FOOTPRINTS OF THE YANGTZE RIVER: AN INTERREGIONAL INPUT–OUTPUT APPROACH

Recently, researchers have applied the multi-regional input–output (MRIO) approach to water footprint (WF) analysis. The concept of interregional input–output (R-MRIO) was developed to analyse regional issues. Researchers have concentrated on the development of global or international input–output (N-MRIO) tables. Using the N-MRIO and the R-MRIO approach allows the study of global and regional issues, respectively. The WF is an indicator influenced by trade among nations and regions. However, the treatment of imports in an R-MRIO approach differs in whether international imports are separated or combined. We evaluate the effects of the difference between these models and discuss policy implications for the Yangtze River, China. The WF calculated using the combined type model is 11% larger than that by the separated type model. This difference can be ascribed to international imports, mainly internal consumption and interregional trade. We find that this difference affects social equity in water-abundant areas.     

Middle Men: The Visible Market‐Makers

This paper presents a framework in which middlemen emerge to intermediate between ex‐ante homogeneous buyers and sellers in the presence of search frictions. Middlemen announce prices, and hold an inventory to provide more sure services. Middlemen can mitigate trade imbalances with price competition. Using this framework I illustrate how the frictionless limit can emerge and how middlemen can implement the short‐side principle for the market price to be Walrasian. The recent progress in the literature on intermediation will also be discussed.     

Collateral fluctuations in a monetary economy

This paper studies economy-wide fluctuations that occur endogenously in the presence of monetary and real assets. Using a standard monetary search model, we consider an economy in which agents can increase consumption, over and above what their liquid monetary asset holdings would allow, pledging real assets as collateral for monetary loans. It is shown that, if the liquidation value of real assets is below full market value, a stable cyclical equilibrium can emerge in consumption and capital around the unstable steady state. We also provide conditions for the existence of cycles of higher order, chaos and sunspot equilibria.     

Learning program for enhancing visual literacy for non-design students using a CMS to share outcomes

This study proposes a basic learning program for enhancing visual literacy using an original Web content management system (Web CMS) to share students’ outcomes in class as a blog post. It seeks to reinforce students’ understanding and awareness of the design of visual content. The learning program described in this research focuses on to address how to create meanings of visual content that is important to express information visually, and includes three exercises based on perception, visual variables, and signification. The Web CMS to publish student works and share in class helps enhance students’ reflection. We also developed a rubric as an assessment device for students’ outcomes. The content of the learning program and its implementation are described with the support of observational data.     

Product Downsizing and Hidden Price Increases: Evidence from Japan's Deflationary Period

In this paper, we empirically examine the extent to which product downsizing occurred during the deflationary period in Japan, as well as the effects of product downsizing on prices and quantities sold. Using scanner data on prices and quantities for all products sold at about 200 supermarkets over the last 10 years, we find that about one third of product replacements were accompanied by a size/weight reduction. We also find that a 1‐percentage point larger size/weight reduction is associated with a 0.45‐percentage point larger price decline, resulting in an effective price increase. Finally, we show that the quantities sold decline with product downsizing, and that the responsiveness of the quantity sold to size/weight changes is almost the same as the price elasticity, indicating that consumers are as sensitive to size/weight changes as they are to price changes. Our results suggest that the Japanese consumer price index may be downwardly biased rather than upwardly biased.