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1.
This paper analyzes exchange rate flexibility in East Asia and explores what has changed since the Asian financial crisis. Our focus is not on the choice of an appropriate exchange rate regime in East Asia, but rather on exchange rate flexibility and management in the region. We find that exchange rate management in East Asia differs based on the country and the time period. We identify major concerns about current exchange rate arrangements in East Asia, including asymmetric responses to external shocks, competitive devaluation, and the dilemma of choosing between asset dollarization and liability dollarization. The paper concludes with some policy implications for an exchange rate arrangement in East Asia. 相似文献
2.
Chinese Yuan after Chinese Exchange Rate System Reform 总被引:1,自引:0,他引:1
I. Introduction The Chinese government announced its change in exchange rate system from the dollar peg system into a managed floating exchange rate system “with reference to” a currencybasket on 21 July 2005 1. The exchange rate system reform has been regarded as a historical?2006 The Authors regime switching in China. This Chinese government decision has preferable effects on neighboring countries in choosing exchange rate system or exchange rate policy because the monetary authorities … 相似文献
3.
Using annual data on nine manufacturing sectors of 18 OECD countries, the article studies the implications of market structure for cross‐country relative price variability. It is found that, in accordance with predictions from a standard markup pricing model, reductions in market competition, along with increased nominal exchange rate volatility, are associated with greater variability of cross‐country relative prices. The market structure also has similar effects on components of cross‐country relative price variability. The empirical findings are robust to the inclusion of various control variables and alternative sample specifications. 相似文献
4.
Eiji Yamamura 《Atlantic Economic Journal》2010,38(3):359-370
This paper explores how the degree of female spouses’ political interest affects male spouses’ views about women’s empowerment
using individual level data in Japan. Controlling for unobserved area-specific fixed effects, results show that males are
likely to consider women’s empowerment important if their spouses are interested in politics. This spouse effect is observed
for conservative males but not for progressive-neutral males. Results were unchanged when the endogeneity bias caused by spouses’
political interests were controlled for. These findings suggest that female family members’ political interests and views
play an important role in determining male views regarding women’s issues. 相似文献
5.
Relative Income Position and Happiness: Are Cabinet Supporters Different from Others in Japan? 下载免费PDF全文
During the period of 2001–2006, the Liberal Democratic Party (LDP) adopted a market‐oriented policy under the Koizumi cabinet. Using data covering the Koizumi and first Abe cabinets, the present paper attempts to examine whether the effects of relative income differ between supporters and non‐supporters of the Koizumi cabinet. Key findings are as follows: within the Koizumi cabinet period, a relatively low‐income position is negatively related to happiness for non‐LDP supporters but not for LDP supporters. However, under the period of the first Abe cabinet, the difference in the effect of relative income for LDP supporters and others disappears. These results imply that an expectation of market outcomes leads to a difference in the effect of relative income position on happiness levels. 相似文献
6.
Identity,nostalgia and happiness among migrants: The case of the Kōshien High School Baseball Tournament in Japan 下载免费PDF全文
Eiji Yamamura 《Pacific Economic Review》2017,22(5):792-813
Public broadcasting of all games of high school baseball tournaments attests to their popularity in Japan. The present study uses individual‐level data to test the hypothesis that nostalgia influences the level of happiness of Japanese people. Its key findings were: (i) the number of wins by a prefecture team increased the happiness level of its residents; (ii) this effect applied only to residents of large cities; and (iii) for urban migrants, originally from rural areas, the effect of their home team wins exceeded that of the wins of their host area team. This effect was significant in cases where the host area cultural climate differed from that of the migrant home area. These findings suggest that a scarcity of ‘identity’ goods related to the residential community increases high school baseball influence on happiness. Furthermore, the influence of nostalgia for home on migrants’ happiness is greater than their attachment to their current residential community. 相似文献
7.
In this paper, we propose constructing confidence sets for a break date in cointegrating regressions by inverting a test for the break location, which is obtained by maximizing the weighted average of power. It is found that the limiting distribution of the test depends on the number of I(1) regressors whose coefficients sustain structural change and the number of I(1) regressors whose coefficients are fixed throughout the sample. By Monte Carlo simulations, we then show that compared with a confidence interval developed by using the existing method based on the limiting distribution of the break point estimator under the assumption of the shrinking shift, the confidence set proposed in the present paper has a more accurate coverage rate, while the length of the confidence set is comparable. By using the method developed in this paper, we then investigate the cointegrating regressions of Russian macroeconomic variables with oil prices with a break. 相似文献
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9.
Eiji Yamamura 《Review of social economy》2013,71(1):31-56
This paper uses individual level data from the Japanese General Social Survey to examine how government size influences generalized trust. After controlling for the endogeneity of government size using instrumental variables, I found: (1) using all samples, government size is not associated with generalized trust, and (2) after splitting the sample into workers and non-workers, government size does not influence generalized trust for non-workers, whereas it significantly reduces generalized trust for workers. This suggests that workers, through their work experience, might have to face greater bureaucratic red tape coming from “larger government,” leading to negative externality effects on relationships of trust in the labor market. 相似文献
10.
Eiji Yamamura 《Atlantic Economic Journal》2012,40(1):85-99
This paper used Fédération Internationale de Football Association (FIFA) world ranking points data to examine how linguistic
heterogeneity has an impact on technology transfer from the most developed countries. The major findings were that the learning
effect from the most developed countries on team performance is larger for developing countries than for developed ones and
that linguistic heterogeneity has a detrimental effect on technology transfer for developed, but not developing countries.
The results presented here are interpreted to imply that the importance of common and proper comprehension of team strategy
among members, which improves team performance but is hampered by linguistic heterogeneity, depends on the stage of development. 相似文献