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Masatoshi Fujisaki Seiichi Katayama Hiroshi Ohta 《Review of Development Economics》2007,11(2):390-403
We consider a common resource economy in which agents exploit the common resource, and use it to produce goods and consume the goods produced. Also the agents can invest in private and productive capital. The resource extracted from the common resource is non‐renewable and the common pool is under uncertainty in the sense that it could have a sudden increase or decrease in the course of extraction. In this model we shall explore the probability of sustainability or ruin of the economy. We compare and discuss the optimal extraction rules and the probabilities under cooperative and non‐cooperative regimes. 相似文献
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We investigate a multi‐market Cournot model with strategic process research and development (R&D) investments wherein a multi‐market firm meets new competitors that enter one of the markets. We show that entry can enhance the total R&D expenditures of the multi‐market firm. Moreover, the incumbent's profit nonmonotonically changes as the number of entrants increases. Depending on the fixed entry costs and R&D technologies, both insufficient and excess entry can appear. Our results imply that diversification of their products can be a useful strategy for firms. 相似文献
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In the presence of international joint ventures, effects of policies like foreign equity cap, trade protection and domestic resource requirement restriction towards equity sharing and welfare are analysed. Foreign equity cap reduces host country's welfare. Trade protection lowers equity share for the local firm. It has a first-order source of welfare gain as the internal efficiency of the firm improves. Also, there is a first-order loss resulting from a leakage effect, since a part of the surplus goes to a foreign firm. A marginal domestic resource requirement restriction enhances the joint surplus of the venture and social welfare. 相似文献
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Yoshihiko Nishiyama Kohtaro HitomiYoshinori Kawasaki Kiho Jeong 《Journal of econometrics》2011,165(1):112-127
Since the pioneering work by Granger (1969), many authors have proposed tests of causality between economic time series. Most of them are concerned only with “linear causality in mean”, or if a series linearly affects the (conditional) mean of the other series. It is no doubt of primary interest, but dependence between series may be nonlinear, and/or not only through the conditional mean. Indeed conditional heteroskedastic models are widely studied recently. The purpose of this paper is to propose a nonparametric test for possibly nonlinear causality. Taking into account that dependence in higher order moments are becoming an important issue especially in financial time series, we also consider a test for causality up to the Kth conditional moment. Statistically, we can also view this test as a nonparametric omitted variable test in time series regression. A desirable property of the test is that it has nontrivial power against T1/2-local alternatives, where T is the sample size. Also, we can form a test statistic accordingly if we have some knowledge on the alternative hypothesis. Furthermore, we show that the test statistic includes most of the omitted variable test statistics as special cases asymptotically. The null asymptotic distribution is not normal, but we can easily calculate the critical regions by simulation. Monte Carlo experiments show that the proposed test has good size and power properties. 相似文献
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Seiichi Inagaki 《The Review of Socionetwork Strategies》2008,2(1):25-41
The Integrated Analytical Model for Household Simulation (INAHSIM) is a microsimulation model for the Japanese population
that was first developed in the 1980s as a tool for household simulation. This study attempted to improve the conventional
INAHSIM in order to construct a more comprehensive alternative that incorporates a larger number of social and economic elements.
It also overcame the problem for simulation—the lack of kinship relations in the initial population—by imputing parent-child
relationships between those parents and children who do not live together. This paper provides an overview of INAHSIM and
adds certain details of the imputation that is essential for simulating the life event of “adult children resettling to care
for their aged parents.” In addition, I will show the importance of the said life event in Japan by comparing the difference
in the family type of elderly people between its future distribution with or without this life event. Finally, I will discuss
the future possibilities for research on microsimulation models that will play an important role in policy making. 相似文献
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This paper provides an overview of dynamic microsimulation modeling as well as its recent developments. It then discusses in detail a recent trend in microsimulation research, which uses alignment methodologies to simulate microsimulation models in conjunction with macro-economic models. The goal of this ??top down-integrated approach?? is to jointly assess the budgetary costs of demographic ageing and pension reform, as well as their consequences on the adequacy of pensions. This paper then discusses, also in detail, how such an integrated approach using shared demographic and macroeconomic assumptions has been developed in Belgium. It describes the dynamic microsimulation model MIDAS, highlighting how it aligns to the simulation results of the semi-aggregate model MALTESE. Finally, this paper suggests that the joint assessment using the joint application of two similar models might be useful to assess pension reform in the Japanese context. 相似文献