In this paper we propose a modification of the Dynamic Theil's Entropy that considers the inequality in the whole population. We decompose it into three addends and we show how to compute them within a Markov model of income evolution. In this way the income inequality can be measured in the whole population and not only among a given number of classes in which the economic agents are classified. The model is implemented with statistics from Eurostat data applied on France, Germany, Greece and Italy. The results reveal different inequality behaviors characterizing the considered European countries.
{"title":"DECOMPOSITION OF THE POPULATION DYNAMIC THEIL'S ENTROPY AND ITS APPLICATION TO FOUR EUROPEAN COUNTRIES","authors":"G. D’Amico, G. D. Biase, R. Manca","doi":"10.15057/26967","DOIUrl":"https://doi.org/10.15057/26967","url":null,"abstract":"In this paper we propose a modification of the Dynamic Theil's Entropy that considers the inequality in the whole population. We decompose it into three addends and we show how to compute them within a Markov model of income evolution. In this way the income inequality can be measured in the whole population and not only among a given number of classes in which the economic agents are classified. The model is implemented with statistics from Eurostat data applied on France, Germany, Greece and Italy. The results reveal different inequality behaviors characterizing the considered European countries.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"55 1","pages":"229-239"},"PeriodicalIF":0.6,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66730747","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper extends Romer's (1990) endogenous growth model by incorporating the heterogeneity of skills among workers. Based on this heterogeneous characteristic, our model has an endogenous labor allocation mechanism determined by the shape of the skill distribution of the workers. Workers are divided between the research and production sectors according to the demand and supply conditions of the economy for their specific skills. We also show that the long-run growth rate of the economy can be characterized by the allocation mechanism.
{"title":"Romer Meets Heterogeneous Workers In An Endogenous Growth Model","authors":"Young-joon Kim, Joonhyuk Song","doi":"10.15057/26968","DOIUrl":"https://doi.org/10.15057/26968","url":null,"abstract":"This paper extends Romer's (1990) endogenous growth model by incorporating the heterogeneity of skills among workers. Based on this heterogeneous characteristic, our model has an endogenous labor allocation mechanism determined by the shape of the skill distribution of the workers. Workers are divided between the research and production sectors according to the demand and supply conditions of the economy for their specific skills. We also show that the long-run growth rate of the economy can be characterized by the allocation mechanism.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"55 1","pages":"121-146"},"PeriodicalIF":0.6,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66730803","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper examines the role of IPRs protection on stimulating innovations across countries. To consider the possible difference in the relationship between IPRs and innovations for countries of various development degrees, we employ the technique of panel threshold model to proceed with empirical estimates. Based on a panel dataset of 42 countries over the 1997-2006 period, results show that stronger IPRs protections enhance innovations using conventional panel data model. After considering the threshold effects, IPRs protection remains a significantly positive influence on innovations for high-income countries, but it has no effect on fostering innovations for non-high-income countries.
{"title":"DO STRONGER INTELLECTUAL PROPERTY RIGHTS INDUCE MORE INNOVATIONS? A CROSS-COUNTRY ANALYSIS","authors":"Chih‐hai Yang, Yi-Ju Huang, Hsuan-Yu Lin","doi":"10.15057/26966","DOIUrl":"https://doi.org/10.15057/26966","url":null,"abstract":"This paper examines the role of IPRs protection on stimulating innovations across countries. To consider the possible difference in the relationship between IPRs and innovations for countries of various development degrees, we employ the technique of panel threshold model to proceed with empirical estimates. Based on a panel dataset of 42 countries over the 1997-2006 period, results show that stronger IPRs protections enhance innovations using conventional panel data model. After considering the threshold effects, IPRs protection remains a significantly positive influence on innovations for high-income countries, but it has no effect on fostering innovations for non-high-income countries.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"55 1","pages":"167-188"},"PeriodicalIF":0.6,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66730681","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Hui-Ling Chung, Hung‐Yi Chen, Jin-Li Hu, Yan-Shu Lin
Antitrust authorities consider commodity bundling as an extension of monopoly power to other markets which harms consumers. This paper analyzes quality competition and its effect on consumer surplus for the case of commodity bundling by a multi-product firm in a vertically differentiated industry. When the firm bundles a high quality good, we show that bundling negatively affects the quality of a competing good, consumer surplus, and welfare. When the firm bundles a low quality good instead, bundling raises the quality of a competing good, enhances consumer surplus, and may increase the welfare.
{"title":"BUNDLING WITH QUALITY CHOICE","authors":"Hui-Ling Chung, Hung‐Yi Chen, Jin-Li Hu, Yan-Shu Lin","doi":"10.15057/26969","DOIUrl":"https://doi.org/10.15057/26969","url":null,"abstract":"Antitrust authorities consider commodity bundling as an extension of monopoly power to other markets which harms consumers. This paper analyzes quality competition and its effect on consumer surplus for the case of commodity bundling by a multi-product firm in a vertically differentiated industry. When the firm bundles a high quality good, we show that bundling negatively affects the quality of a competing good, consumer surplus, and welfare. When the firm bundles a low quality good instead, bundling raises the quality of a competing good, enhances consumer surplus, and may increase the welfare.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"18 1","pages":"147-165"},"PeriodicalIF":0.6,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66730850","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper studies the common pricing practice of firms selling a durable good at a low price and a complementary consumable good at a high price. In our model, consumers discount future payments while firms receive a steady-state flow of revenues from selling the durable and consumable goods. As a result, there are potential gains from deferring consumers' payments to the future. We show that when firms commit to constant prices and consumer lock-in is possible, firms choose pricing consistent with the practice in monopoly and competition. Our result provides a new efficiency argument in the aftermarket literature.
{"title":"PRICING OF COMPLEMENTARY GOODS AS AN IMPLICIT FINANCIAL ARRANGEMENT","authors":"Jin hyuk Lee, Jae Ok Park","doi":"10.15057/26970","DOIUrl":"https://doi.org/10.15057/26970","url":null,"abstract":"This paper studies the common pricing practice of firms selling a durable good at a low price and a complementary consumable good at a high price. In our model, consumers discount future payments while firms receive a steady-state flow of revenues from selling the durable and consumable goods. As a result, there are potential gains from deferring consumers' payments to the future. We show that when firms commit to constant prices and consumer lock-in is possible, firms choose pricing consistent with the practice in monopoly and competition. Our result provides a new efficiency argument in the aftermarket literature.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"55 1","pages":"207-228"},"PeriodicalIF":0.6,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66730942","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We examine the effect of air pollution (particulate matter under 10 µg/m3, or mp10 concentrations) on sick leaves due to the child's health being affected. Our dataset is a large panel of Chilean parent-child pairs observed during the 52 weeks of 2007. Two main findings are reported. First, mp10 concentrations have a strong effect on child hospitalizations, and in particular hospitalizations for respiratory conditions. Second, mp10 concentrations also have an important effect on parental sick leaves when the underlying diagnosis is related to a respiratory condition, but no effects are observed in aggregate parental sick leaves.
{"title":"AIR POLLUTION AND SICK LEAVES: THE CHILD HEALTH LINK","authors":"Facundo Sepúlveda","doi":"10.15057/26971","DOIUrl":"https://doi.org/10.15057/26971","url":null,"abstract":"We examine the effect of air pollution (particulate matter under 10 µg/m3, or mp10 concentrations) on sick leaves due to the child's health being affected. Our dataset is a large panel of Chilean parent-child pairs observed during the 52 weeks of 2007. Two main findings are reported. First, mp10 concentrations have a strong effect on child hospitalizations, and in particular hospitalizations for respiratory conditions. Second, mp10 concentrations also have an important effect on parental sick leaves when the underlying diagnosis is related to a respiratory condition, but no effects are observed in aggregate parental sick leaves.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"55 1","pages":"109-120"},"PeriodicalIF":0.6,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66730990","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We investigate government subsidy policies in which a home firm and a foreign firm choose to strategically set prices or quantities in a third market. We show that even though each firm can earn higher profits under Cournot competition than under Bertrand competition regardless of the nature of goods, choosing Bertrand competition is the dominant strategy for both firms. This can lead each firm to face a prisoners' dilemma in equilibrium. We also show that from the aspects of governments under subsidy regime, Cournot competition is more efficient than Bertrand competition when the goods are substitutes, and vice versa when the goods are complements. However, trade liberalization such as via free trade agreements brings about a change in the competition mode from Bertrand competition to Cournot competition if goods are substitutes. On the other hand, if goods are complements, there are no such a change in the competition mode and Bertrand competition prevails the market. Hence, a move toward free trade among countries increases not only profits of firms but also the welfare of both countries irrespective of the nature of goods.
{"title":"Strategic Trade Policies in International Rivalry When Competition Mode is Endogenous","authors":"Kangsik Choi, Ki‐Dong Lee, Seonyoung Lim","doi":"10.15057/28219","DOIUrl":"https://doi.org/10.15057/28219","url":null,"abstract":"We investigate government subsidy policies in which a home firm and a foreign firm choose to strategically set prices or quantities in a third market. We show that even though each firm can earn higher profits under Cournot competition than under Bertrand competition regardless of the nature of goods, choosing Bertrand competition is the dominant strategy for both firms. This can lead each firm to face a prisoners' dilemma in equilibrium. We also show that from the aspects of governments under subsidy regime, Cournot competition is more efficient than Bertrand competition when the goods are substitutes, and vice versa when the goods are complements. However, trade liberalization such as via free trade agreements brings about a change in the competition mode from Bertrand competition to Cournot competition if goods are substitutes. On the other hand, if goods are complements, there are no such a change in the competition mode and Bertrand competition prevails the market. Hence, a move toward free trade among countries increases not only profits of firms but also the welfare of both countries irrespective of the nature of goods.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"57 1","pages":"223-241"},"PeriodicalIF":0.6,"publicationDate":"2014-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66731507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Author Yang, WU YA-PO, HU SHIH-JYE, Ya‐Po Yang, WU SHIH-JYE, Jin-Li Hu
In order to analyze the optimal degree of privatizing an upstream public firm, this paper sets up a vertically related market that consists of an upstream mixed oligopoly with one public firm and m private firms and a downstream oligopoly with n private firms. The major findings of this paper are as follows: If the marginal production cost of input increases slowly (rapidly), then the optimal degree for privatizing a public upstream firm increases (decreases) with the number of downstream firms. If the marginal production cost of input increases moderately, then the optimal degree for privatizing the public upstream firm first increases and then decreases with the number of downstream firms. If the marginal production cost of input is constant, then the optimal degree for privatizing a public upstream firm always increases with the number of downstream firms.
{"title":"MARKET STRUCTURE, PRODUCTION EFFICIENCY, AND PRIVATIZATION","authors":"Author Yang, WU YA-PO, HU SHIH-JYE, Ya‐Po Yang, WU SHIH-JYE, Jin-Li Hu","doi":"10.15057/26818","DOIUrl":"https://doi.org/10.15057/26818","url":null,"abstract":"In order to analyze the optimal degree of privatizing an upstream public firm, this paper sets up a vertically related market that consists of an upstream mixed oligopoly with one public firm and m private firms and a downstream oligopoly with n private firms. The major findings of this paper are as follows: If the marginal production cost of input increases slowly (rapidly), then the optimal degree for privatizing a public upstream firm increases (decreases) with the number of downstream firms. If the marginal production cost of input increases moderately, then the optimal degree for privatizing the public upstream firm first increases and then decreases with the number of downstream firms. If the marginal production cost of input is constant, then the optimal degree for privatizing a public upstream firm always increases with the number of downstream firms.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"55 1","pages":"89-108"},"PeriodicalIF":0.6,"publicationDate":"2014-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66730664","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study how the levels of market price and price dispersion are associated with consumersʼ search costs and the level of competitiveness in the online market using data collected from the online book industry in Taiwan. Our empirical results show that prices and price dispersion are lower for books that are more often purchased or advertised. Moreover, we find that the big three bookstores and the fringe bookstores price differently when facing competition from their rivals and that price dispersion tend to be lower with the number of competing bookstores.
{"title":"PRICE AND PRICE DISPERSION ON THE WEB: EVIDENCE FROM THE ONLINE BOOK INDUSTRY OF TAIWAN","authors":"Yu-Chen Lin, Chiang-Ming Chen","doi":"10.15057/26811","DOIUrl":"https://doi.org/10.15057/26811","url":null,"abstract":"We study how the levels of market price and price dispersion are associated with consumersʼ search costs and the level of competitiveness in the online market using data collected from the online book industry in Taiwan. Our empirical results show that prices and price dispersion are lower for books that are more often purchased or advertised. Moreover, we find that the big three bookstores and the fringe bookstores price differently when facing competition from their rivals and that price dispersion tend to be lower with the number of competing bookstores.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"55 1","pages":"51-70"},"PeriodicalIF":0.6,"publicationDate":"2014-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66730478","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Based upon the results of a national survey conducted in Taiwan, this study investigates the effects of volunteering on life satisfaction. We used a univariate ordered probit model and a simultaneous bivariate ordered probit model to compare the potential endogeneity between volunteering and life satisfaction. An exogenous military service variable was included in the bivariate model to correct the endogeneity of volunteering on life satisfaction. The results of the univariate ordered probit model suggest that volunteering has no effecton life satisfaction. However, the results from the simultaneous bivariate ordered probit model indicate volunteering has a significantposit ive effect on life satisfaction. The failure to account for endogeneity appears to underestimate the effect of volunteering on life satisfaction.
{"title":"VOLUNTEERING AND LIFE SATISFACTION : AN INVESTIGATION OF ENDOGENEITY","authors":"Chiang-Ming Chen, Chia-Yu Yeh, Ching-hsing Chang","doi":"10.15057/26815","DOIUrl":"https://doi.org/10.15057/26815","url":null,"abstract":"Based upon the results of a national survey conducted in Taiwan, this study investigates the effects of volunteering on life satisfaction. We used a univariate ordered probit model and a simultaneous bivariate ordered probit model to compare the potential endogeneity between volunteering and life satisfaction. An exogenous military service variable was included in the bivariate model to correct the endogeneity of volunteering on life satisfaction. The results of the univariate ordered probit model suggest that volunteering has no effecton life satisfaction. However, the results from the simultaneous bivariate ordered probit model indicate volunteering has a significantposit ive effect on life satisfaction. The failure to account for endogeneity appears to underestimate the effect of volunteering on life satisfaction.","PeriodicalId":43705,"journal":{"name":"Hitotsubashi Journal of Economics","volume":"55 1","pages":"21-32"},"PeriodicalIF":0.6,"publicationDate":"2014-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66730596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：