Pub Date : 2025-06-01Epub Date: 2025-03-25DOI: 10.1016/j.jjie.2025.101363
Ikuto Aiba , Daisuke Hasegawa
This study examines the impact of flooding on real estate transactions in an urban area using the flooding caused by Typhoon Hagibis, which hit Japan in October 2019, as a natural experiment. Applying the difference-in-differences method, we find that the contract and offer prices of properties in flooded areas declined by about 6.0% and 5.5% on average, respectively. These price drops indicate an approximately 0.5 percentage point rise in the discount rate, which is defined as the percentage change from the offer to contract prices. Regarding apartment transactions, we show that the negative effects are significant for higher floors but insignificant for lower floors. This suggests the possibility that buyers have become more aware that higher floors are also vulnerable to flooding, given the flood-associated risks of power and water outages. The findings also reveal that the negative effects of flooding on detached houses are more serious and emerge more slowly than those on apartments.
{"title":"The impact of flooding on real estate transactions in densely populated areas: Evidence from the 2019 Typhoon Hagibis in Japan","authors":"Ikuto Aiba , Daisuke Hasegawa","doi":"10.1016/j.jjie.2025.101363","DOIUrl":"10.1016/j.jjie.2025.101363","url":null,"abstract":"<div><div>This study examines the impact of flooding on real estate transactions in an urban area using the flooding caused by Typhoon Hagibis, which hit Japan in October 2019, as a natural experiment. Applying the difference-in-differences method, we find that the contract and offer prices of properties in flooded areas declined by about 6.0% and 5.5% on average, respectively. These price drops indicate an approximately 0.5 percentage point rise in the discount rate, which is defined as the percentage change from the offer to contract prices. Regarding apartment transactions, we show that the negative effects are significant for higher floors but insignificant for lower floors. This suggests the possibility that buyers have become more aware that higher floors are also vulnerable to flooding, given the flood-associated risks of power and water outages. The findings also reveal that the negative effects of flooding on detached houses are more serious and emerge more slowly than those on apartments.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"76 ","pages":"Article 101363"},"PeriodicalIF":2.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143734629","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-06-01Epub Date: 2025-02-18DOI: 10.1016/j.jjie.2025.101352
Shigenori Shiratsuka
This paper provides a comprehensive analysis of the Bank of Japan’s (BOJ) recent experience in implementing the yield curve control (YCC) in the Japanese Government Bond (JGB) market. The YCC policy started in September 2016 with targets on two interest rates with different maturities: overnight policy interest rates at -0.1% and the longer-term 10-year JGB yields at zero percent, with a fixed but adjustable fluctuation allowance range. The YCC policy was highly effective in stabilizing interest rates at low levels, from short to long term, at least up to early 2022. This paper addresses the question of what the BOJ did under the YCC policy through the lens of the yield curve dynamics in the JGB and overnight index swap (OIS) markets. Empirical evidence demonstrates two points. First, the BOJ had very limited policy space to extract monetary easing effects by manipulating the yield curve at the introduction of the YCC policy. Second, the BOJ took the seemingly aggressive but actually reactive actions of outright JGB purchases to counter market pressures on the YCC cap. These findings indicate that the BOJ introduced a sustainable monetary policy framework of the YCC policy with the intention of shifting its focus to maintaining an extremely low interest rate environment for as long as necessary.
{"title":"What did the Bank of Japan do under the yield curve control policy?","authors":"Shigenori Shiratsuka","doi":"10.1016/j.jjie.2025.101352","DOIUrl":"10.1016/j.jjie.2025.101352","url":null,"abstract":"<div><div>This paper provides a comprehensive analysis of the Bank of Japan’s (BOJ) recent experience in implementing the yield curve control (YCC) in the Japanese Government Bond (JGB) market. The YCC policy started in September 2016 with targets on two interest rates with different maturities: overnight policy interest rates at -0.1% and the longer-term 10-year JGB yields at zero percent, with a fixed but adjustable fluctuation allowance range. The YCC policy was highly effective in stabilizing interest rates at low levels, from short to long term, at least up to early 2022. This paper addresses the question of what the BOJ did under the YCC policy through the lens of the yield curve dynamics in the JGB and overnight index swap (OIS) markets. Empirical evidence demonstrates two points. First, the BOJ had very limited policy space to extract monetary easing effects by manipulating the yield curve at the introduction of the YCC policy. Second, the BOJ took the seemingly aggressive but actually reactive actions of outright JGB purchases to counter market pressures on the YCC cap. These findings indicate that the BOJ introduced a sustainable monetary policy framework of the YCC policy with the intention of shifting its focus to maintaining an extremely low interest rate environment for as long as necessary.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"76 ","pages":"Article 101352"},"PeriodicalIF":2.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143487192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-06-01Epub Date: 2025-04-08DOI: 10.1016/j.jjie.2025.101364
Jota Ishikawa , Toshihiro Okubo
Technology holders may have strategic incentive to offer licensing contracts that deter (potential) rivals from conducting their own R&D. This study develops a simple model of technology licensing from a foreign firm to a home firm, in which R&D serves as an alternative means for the home firm to enter the market. We first derive the optimal licensing fees with differentiated goods and two-part tariffs. Depending on parameter values, three types of licensing contracts can emerge: (i) by means of a fixed fee alone, (ii) by means of a royalty alone, and (iii) by means of a combination of a fixed fee and a royalty. We then specifically investigate intervention by the home government: withholding taxes on royalties and R&D subsidies. A withholding tax may improve home welfare without imposing any burden on the home firm and consumers. Committing itself to an R&D subsidy, the home government can reduce licensing fees without any cost.
{"title":"Cross-border technology licensing with R&D Opportunity and Government Intervention","authors":"Jota Ishikawa , Toshihiro Okubo","doi":"10.1016/j.jjie.2025.101364","DOIUrl":"10.1016/j.jjie.2025.101364","url":null,"abstract":"<div><div>Technology holders may have strategic incentive to offer licensing contracts that deter (potential) rivals from conducting their own R&D. This study develops a simple model of technology licensing from a foreign firm to a home firm, in which R&D serves as an alternative means for the home firm to enter the market. We first derive the optimal licensing fees with differentiated goods and two-part tariffs. Depending on parameter values, three types of licensing contracts can emerge: (i) by means of a fixed fee alone, (ii) by means of a royalty alone, and (iii) by means of a combination of a fixed fee and a royalty. We then specifically investigate intervention by the home government: withholding taxes on royalties and R&D subsidies. A withholding tax may improve home welfare without imposing any burden on the home firm and consumers. Committing itself to an R&D subsidy, the home government can reduce licensing fees without any cost.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"76 ","pages":"Article 101364"},"PeriodicalIF":2.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143835191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-06-01Epub Date: 2025-03-14DOI: 10.1016/j.jjie.2025.101362
Mana Kaneko , Toshinori Sasaki , Katsushi Suzuki
We examine the effect of bank–firm relationships on the marginal value of cash held by firms during the 2008 financial crisis using Japanese data. Our results show that (1) during the financial crisis, the close bank-firm relationships reduce the marginal value of cash. In particular, the effect is stronger for financially distressed firms. (2) Financially distressed firms with closer bank–firm relationships are less likely to save cash. These results are consistent with the information production hypothesis that close bank-firm relationships increase firms' ability to raise funds by encouraging banks to produce information, as a result, reducing the value of cash held by firms.
{"title":"Bank–firm relationships and the value of cash: Evidence from the financial crisis in Japan","authors":"Mana Kaneko , Toshinori Sasaki , Katsushi Suzuki","doi":"10.1016/j.jjie.2025.101362","DOIUrl":"10.1016/j.jjie.2025.101362","url":null,"abstract":"<div><div>We examine the effect of bank<strong>–</strong>firm relationships on the marginal value of cash held by firms during the 2008 financial crisis using Japanese data. Our results show that (1) during the financial crisis, the close bank-firm relationships reduce the marginal value of cash. In particular, the effect is stronger for financially distressed firms. (2) Financially distressed firms with closer bank–firm relationships are less likely to save cash. These results are consistent with the information production hypothesis that close bank-firm relationships increase firms' ability to raise funds by encouraging banks to produce information, as a result, reducing the value of cash held by firms.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"76 ","pages":"Article 101362"},"PeriodicalIF":2.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143686907","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-06-01Epub Date: 2025-02-11DOI: 10.1016/j.jjie.2025.101353
Qizhong Yang , Tomohiko Inui
The fragmentation of production in global value chains (GVCs) has become an important trend in international trade, where trading firms are facing a competitive global market. We use matched firm-level manufacturing survey and customs data to examine how the position of Chinese firms in the GVC affects the probability of trade duration and firm survival in the market. The results show that firms with higher upstreamness can more easily continue their current trade activities compared to firms located in less upstream positions. The subsequent estimation of the effect of the firm's GVC position on the probability of firm survival implies that a more upstream position in the GVC is beneficial for a firm's survival in both domestic and international markets. These findings show that participation in GVCs is not the only important determinant of firm performance, but positioning in GVCs also matters.
{"title":"Position in global value chains, trade duration, and firm survival: Empirical evidence from China","authors":"Qizhong Yang , Tomohiko Inui","doi":"10.1016/j.jjie.2025.101353","DOIUrl":"10.1016/j.jjie.2025.101353","url":null,"abstract":"<div><div>The fragmentation of production in global value chains (GVCs) has become an important trend in international trade, where trading firms are facing a competitive global market. We use matched firm-level manufacturing survey and customs data to examine how the position of Chinese firms in the GVC affects the probability of trade duration and firm survival in the market. The results show that firms with higher upstreamness can more easily continue their current trade activities compared to firms located in less upstream positions. The subsequent estimation of the effect of the firm's GVC position on the probability of firm survival implies that a more upstream position in the GVC is beneficial for a firm's survival in both domestic and international markets. These findings show that participation in GVCs is not the only important determinant of firm performance, but positioning in GVCs also matters.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"76 ","pages":"Article 101353"},"PeriodicalIF":2.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143421225","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-01Epub Date: 2024-11-07DOI: 10.1016/j.jjie.2024.101339
Kakuho Furukawa , Yoshihiko Hogen , Yosuke Kido
We present an analysis of wages and labor market tightness for regular workers (full-time permanent workers) in Japan, utilizing a novel dataset of online job advertisements spanning the period from 2015 to 2022. Despite the importance of online job advertisements for the labor market, little has been studied for the case of Japan. Our study documents labor market conditions reflected in online job advertisement data and investigates how posted wages are related to the labor market tightness, and how they affect actual wages of existing workers. The results uncover several aspects of the labor market which are not captured by official statistics. First, we find that posted wages for regular workers increased at a pace faster than wages for existing regular workers in the sample period, with some heterogeneity across industries and skill requirements. Second, we find that the estimated job-filling rate observed from the dataset declined in recent years, which suggests difficulties that firms faced in hiring workers, and that this was associated with an increase in posted wages. Third, we find that an increase in posted wages positively affects the wages of existing regular workers after some time lag. Our empirical findings suggest that spillovers are driven by underlying mechanisms such as retention of existing workers, and fairness norms to maintain a balance in wages between newly hired workers and existing workers.
{"title":"Labor market of regular workers in Japan: A perspective from job advertisement data","authors":"Kakuho Furukawa , Yoshihiko Hogen , Yosuke Kido","doi":"10.1016/j.jjie.2024.101339","DOIUrl":"10.1016/j.jjie.2024.101339","url":null,"abstract":"<div><div>We present an analysis of wages and labor market tightness for regular workers (full-time permanent workers) in Japan, utilizing a novel dataset of online job advertisements spanning the period from 2015 to 2022. Despite the importance of online job advertisements for the labor market, little has been studied for the case of Japan. Our study documents labor market conditions reflected in online job advertisement data and investigates how posted wages are related to the labor market tightness, and how they affect actual wages of existing workers. The results uncover several aspects of the labor market which are not captured by official statistics. First, we find that posted wages for regular workers increased at a pace faster than wages for existing regular workers in the sample period, with some heterogeneity across industries and skill requirements. Second, we find that the estimated job-filling rate observed from the dataset declined in recent years, which suggests difficulties that firms faced in hiring workers, and that this was associated with an increase in posted wages. Third, we find that an increase in posted wages positively affects the wages of existing regular workers after some time lag. Our empirical findings suggest that spillovers are driven by underlying mechanisms such as retention of existing workers, and fairness norms to maintain a balance in wages between newly hired workers and existing workers.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"75 ","pages":"Article 101339"},"PeriodicalIF":2.6,"publicationDate":"2025-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143173082","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-01Epub Date: 2024-12-18DOI: 10.1016/j.jjie.2024.101349
Ritsu Yano, Yoshiyuki Nakazono, Kento Tango
Following Miranda-Agrippino and Ricco (2021), we identify a monetary policy shock in Japan. We construct this shock to be orthogonal to the Bank of Japan’s macroeconomic forecasts, as well as a central bank’s information shock (Nakamura and Steinsson, 2018). Our findings indicate that a surprise policy tightening is contractionary, leading to a deterioration in output and decline in prices. There are no lagged effects of monetary policy on inflation. In response to a tightening shock, prices fall immediately. Furthermore, we demonstrate that a positive central bank information shock increases both output and prices. An unexpected positive outlook from the Bank of Japan raises stock prices and depreciates the Japanese yen. This evidence suggests that information effects play a crucial role in the Japanese economy, even under the effective lower bound.
{"title":"The transmission of monetary policy shocks: Evidence from Japan","authors":"Ritsu Yano, Yoshiyuki Nakazono, Kento Tango","doi":"10.1016/j.jjie.2024.101349","DOIUrl":"10.1016/j.jjie.2024.101349","url":null,"abstract":"<div><div>Following Miranda-Agrippino and Ricco (2021), we identify a monetary policy shock in Japan. We construct this shock to be orthogonal to the Bank of Japan’s macroeconomic forecasts, as well as a central bank’s information shock (Nakamura and Steinsson, 2018). Our findings indicate that a surprise policy tightening is contractionary, leading to a deterioration in output and decline in prices. There are no lagged effects of monetary policy on inflation. In response to a tightening shock, prices fall immediately. Furthermore, we demonstrate that a positive central bank information shock increases both output and prices. An unexpected positive outlook from the Bank of Japan raises stock prices and depreciates the Japanese yen. This evidence suggests that information effects play a crucial role in the Japanese economy, even under the effective lower bound.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"75 ","pages":"Article 101349"},"PeriodicalIF":2.6,"publicationDate":"2025-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143173081","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-01Epub Date: 2024-12-21DOI: 10.1016/j.jjie.2024.101350
Yuki HASHIMOTO
We analyze the effect of perceived global competition on firms’ reorganization plans. Using firm-level survey data from Japanese manufacturing SMEs in the late 1990s, we find that manufacturing SMEs perceiving intense global competition were more likely to consider hiring low-skilled immigrants despite being reluctant to increase R&D investment. This suggests that these SMEs were shifting towards becoming more labor-intensive organizations. Additionally, the positive relationship between perceived global competition and the intention to hire immigrant workers is partially mediated by difficulties in retaining young workers.
{"title":"Global competition and labor-intensive production in SMEs: Firm-level evidence from Japan at the threshold of the lost decades","authors":"Yuki HASHIMOTO","doi":"10.1016/j.jjie.2024.101350","DOIUrl":"10.1016/j.jjie.2024.101350","url":null,"abstract":"<div><div>We analyze the effect of perceived global competition on firms’ reorganization plans. Using firm-level survey data from Japanese manufacturing SMEs in the late 1990s, we find that manufacturing SMEs perceiving intense global competition were more likely to consider hiring low-skilled immigrants despite being reluctant to increase R&D investment. This suggests that these SMEs were shifting towards becoming more labor-intensive organizations. Additionally, the positive relationship between perceived global competition and the intention to hire immigrant workers is partially mediated by difficulties in retaining young workers.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"75 ","pages":"Article 101350"},"PeriodicalIF":2.6,"publicationDate":"2025-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143173078","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study is the first to comprehensively investigate international trade at the firm-level using Japan’s customs data for the 2014–2020 period. We first decompose international trade into the intensive and extensive margins and show that the intensive margin accounts for around 30% and 40% of the variation in partner country-specific exports and imports, respectively. We next find a substantial concentration of trading firms: in 2017, the top 10% of exporters accounted for 96.6% of all exports, while the top 10% of importers were responsible for 94.6% of all imports. Finally, we match the customs data with other firm-level datasets and estimate the performance premia of exporting firms. Our findings indicate that exporting manufacturing firms outperform non-exporting manufacturing firms in all aspects we consider: sales, value added, the number of employees, the capital-labor ratio, productivity, and wages. Interestingly, the exporter premia of manufacturing firms for value added, labor productivity, and total factor productivity decreased between 2014 and 2016 and then increased until 2019, whereas the exporter premium for the average wage steadily increased.
{"title":"Margins, concentration, and the performance of firms in international trade: Evidence from Japanese customs data","authors":"Keiko Ito , Masahiro Endoh , Naoto Jinji , Toshiyuki Matsuura , Toshihiro Okubo , Akira Sasahara","doi":"10.1016/j.jjie.2024.101340","DOIUrl":"10.1016/j.jjie.2024.101340","url":null,"abstract":"<div><div>This study is the first to comprehensively investigate international trade at the firm-level using Japan’s customs data for the 2014–2020 period. We first decompose international trade into the intensive and extensive margins and show that the intensive margin accounts for around 30% and 40% of the variation in partner country-specific exports and imports, respectively. We next find a substantial concentration of trading firms: in 2017, the top 10% of exporters accounted for 96.6% of all exports, while the top 10% of importers were responsible for 94.6% of all imports. Finally, we match the customs data with other firm-level datasets and estimate the performance premia of exporting firms. Our findings indicate that exporting manufacturing firms outperform non-exporting manufacturing firms in all aspects we consider: sales, value added, the number of employees, the capital-labor ratio, productivity, and wages. Interestingly, the exporter premia of manufacturing firms for value added, labor productivity, and total factor productivity decreased between 2014 and 2016 and then increased until 2019, whereas the exporter premium for the average wage steadily increased.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"75 ","pages":"Article 101340"},"PeriodicalIF":2.6,"publicationDate":"2025-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142720141","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-01Epub Date: 2024-11-17DOI: 10.1016/j.jjie.2024.101341
Kazuma Sato
This study explores the association between paternal job loss and children's educational attainments using the Keio Household Panel Survey (KHPS), which provides representative panel data for Japan. Because of the data limitation, the intergenerational consequences of a father's job loss have not been examined in depth in Japan. This study addresses this issue using retrospective data from the school and work history of KHPS and examines the influence of paternal job loss before their children complete compulsory education. In addition, this study employs not only the OLS and logit model but also several matching methods, such as propensity score matching, to examine these relationships properly. The empirical results present two findings. First, the father's job loss is negatively related to the children's educational attainments. Children whose fathers experienced job loss are less likely to graduate from university. In addition, the number of years of education for children whose fathers have lost their jobs is lower. Those results remain the same, despite using several matching methods. Second, even after considering the declines in fathers' income, the negative association of a father's job loss with children's educational attainments is observed.
{"title":"Intergenerational associations between paternal job loss and children's educational attainment in Japan","authors":"Kazuma Sato","doi":"10.1016/j.jjie.2024.101341","DOIUrl":"10.1016/j.jjie.2024.101341","url":null,"abstract":"<div><div>This study explores the association between paternal job loss and children's educational attainments using the Keio Household Panel Survey (KHPS), which provides representative panel data for Japan. Because of the data limitation, the intergenerational consequences of a father's job loss have not been examined in depth in Japan. This study addresses this issue using retrospective data from the school and work history of KHPS and examines the influence of paternal job loss before their children complete compulsory education. In addition, this study employs not only the OLS and logit model but also several matching methods, such as propensity score matching, to examine these relationships properly. The empirical results present two findings. First, the father's job loss is negatively related to the children's educational attainments. Children whose fathers experienced job loss are less likely to graduate from university. In addition, the number of years of education for children whose fathers have lost their jobs is lower. Those results remain the same, despite using several matching methods. Second, even after considering the declines in fathers' income, the negative association of a father's job loss with children's educational attainments is observed.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"75 ","pages":"Article 101341"},"PeriodicalIF":2.6,"publicationDate":"2025-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142743177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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