Male and Female Happiness in Japan During the 2000s: Trends During Era of Promotion of Active Participation by Women in Society

Female happiness has been paradoxically declining over recent decades in reverse proportion to expanding opportunities for women in developed countries, but this subject has not been explored in Japan. Using JGSS, we found that Japanese women have been slightly happier in both absolute and relative terms to men in the 2000s. While happiness of men aged 35–49 and 65 and over temporarily declined in the first half of the decade, women in age groups 20–34 and 65 and over gained happiness in the second half. Moreover, trends in life satisfaction in terms of economic aspects are similar for men and women, slightly advantageous to men in marriage, and largely advantageous to women in non‐market and non‐family aspects.     

Price setting in forward-looking customer markets

If consumers form habits in individual goods, firms face a time-inconsistency problem. Low prices in the future help attract customers in the present. Firms, therefore, have an incentive to promise low prices in the future, but price gouge when the future arrives. In this setting, firms benefit from “committing to a sticky price.” If consumers have incomplete information about costs and demand, the firm-preferred equilibrium has the firm price at or below a “price cap.” The model therefore provides an explanation for the simultaneous existence of a rigid regular price and frequent “sales”.     

Retaining telecommunication services when universal service is defined by functionality: Japanese consumers' willingness-to-pay

This study uses contingent valuation to measure Japanese customers' willingness-to-pay to maintain combinations of five telecommunication services that are considered substitutes if universal service is defined on the basis of functionality. The analysis revealed the following results. First, consumers are more willing to pay to retain voice communication services than data transmission services. Second, customers accept Internet Protocol telephony as a substitute for plain old telephone service (POTS) as a universal service, and they are willing to pay much more than Japan's current Universal Service Fund charge. Third, even when mobile phone service (MOB) is available, consumers will pay to retain fixed-line voice services. Finally, consumers have an equal desire to keep fiber-to-the-home (FTTH) and fixed-line voice services, but it is less than the demand for MOB. Thus, under the present definition of POTS as a universal service, FTTH could be considered as a basic telecommunication service.     

Returns to scale: concept,estimation and analysis of Japan's turbulent 1964–88 economy

Abstract There is policy interest in factoring productivity growth into technical progress and returns to scale components. Our approach uses exact index number methods to reduce the parameters that must be estimated, and allows us to exploit the cross‐sectional dimension of plant‐level panel data. We show that the same equation can also be used to estimate ‘Harberger’ scale economies and technical progress indicators that require fewer assumptions. Estimates of the elasticity of scale for Japanese establishments in three major industries over 1964–88 are presented. Our study spans the high growth era of the 1960s, two oil shocks, and other exogenous shocks.     

An Axiomatic Foundation of the Multiplicative Human Development Index

The aggregation formula in the Human Development Index (HDI) was changed to a geometric mean in 2010. In this paper, we search for a theoretical justification for employing this new HDI formula. First, we find a maximal class of index functions, what we call quasi‐geometric means, that satisfy symmetry for the characteristics, normalization, and separability. Second, we show that power means are the only quasi‐geometric means satisfying homogeneity. Finally, the new HDI is the only power mean satisfying minimal lower boundedness, which is a local complementability axiom proposed by Herrero et al. (2010).     

Adoption and policy implications of Japan’s new corporate governance practices after the reform

In this paper we explain the process and policy implications of Japanese firms’ adoption of recently reformed corporate governance practices. We use a selective adaptation framework in doing so. We present some qualitative predictions about the possible outcome of their adoption process. One advantage of our approach is that we can describe various aspects of the evolutionary process of Japan’s corporate governance reform as a system in a consistent manner, rather than as independent pieces. Our predictions provide policy implications and are empirically testable. Japan’s post-bubble corporate governance reform has been extensive and involves the enactment and revisions of many relevant laws and affected institutions. Japan’s aim has been to install US-like practices (the de facto global standard), with these practices replacing the now tarnished bank-centered practices, and to facilitate Japanese industry in regaining global competitiveness. However, we show that Japanese businesses’ adoption of US practices has been selective and efficiency and other policy implications of such behavior are potentially dysfunctional.     

Calculations of the shares of financial resources paid by actual payers for transportation improvements

In this paper we identify and quantitatively describe the actual providers of financial resources, termed “actual payers”, for transportation improvements in some advanced countries, using various statistical data. The theoretical framework on which the concept of actual payers is based was presented in our earlier paper (Transport Policy, April 1998). The current study presents the results of calculations performed according to that concept. Because of the complexity and variety of the financial resources drawn on by transportation systems, the means of financial support for transportation have not been made clear when superficial classifications such as “National expenditures”, “Local expenditures”, “Owners/operators' funds” and “Debt” are used. In the present study, the financial support for transportation is calculated on the basis of what is spent by actual payers, such as users, payers of national taxes and payers of local taxes. This approach allows us to show that the shares of actual payers are quite different in each country. In addition, we indicate the characteristics of the shares of the actual payers in each country by calculating the ratio of the users' burden or the dependence of debt, etc.