Journal of the Japanese and International Economies最新文献

英文中文

Optimal monetary policy in a liquidity trap: Evaluations for Japan’s monetary policy 流动性陷阱中的最优货币政策：对日本货币政策的评价

IF 2.6 3区经济学 Q1 ECONOMICS

Journal of the Japanese and International Economies

Pub Date : 2025-03-07 DOI: 10.1016/j.jjie.2025.101361

Kohei Hasui , Yuki Teranishi

This paper shows (1) a positive analysis demonstrating that recent high inflation rates can be explained by the Bank of Japan (BOJ)’s monetary policy for the COVID-19 pandemic period, “Inflation-Overshooting Commitment,” and (2) a normative analysis showing that the BOJ’s inflation-overshooting commitment aligns with the optimal monetary policy in a liquidity trap within a new Keynesian model with inflation persistence. In detail, we calibrate a hybrid new Keynesian model by Japanese parameters and show optimal monetary policy under commitment. Optimal monetary policy prolongs the zero interest rate until the second quarter of 2024 even after inflation rates overshoot 2 percent. Similarly, the BOJ continues the zero interest rate policy until the second quarter of 2024. The current average inflation rates from 2023Q4 to 2024Q3 reach 2.6 percent and 2.5 percent in the data and the model, respectively.

Our conclusion holds for a variety of situations with Japanese parameters, such as a low output gap response to the real interest rate, discounted IS curve, alternative inflation persistences, interest-rate smoothing for the policy rate, an alternative specification of the Phillips curve, inflation target, and low/high anchored inflation expectations and natural interest rates.

本文展示了(1)一项实证分析，表明最近的高通胀率可以用日本央行（BOJ）在COVID-19大流行期间的货币政策“通胀超调承诺”来解释；(2)一项规范分析，表明日本央行的通胀超调承诺与具有通胀持续性的新凯恩斯模型中流动性陷阱中的最优货币政策一致。详细地说，我们用日本参数校准了一个混合的新凯恩斯模型，并展示了承诺下的最优货币政策。最优货币政策将零利率延长至2024年第二季度，即使通胀率超过2%。同样，日本央行将继续实行零利率政策，直到2024年第二季度。从数据和模型来看，目前2023Q4到2024Q3的平均通胀率分别为2.6%和2.5%。我们的结论适用于具有日本参数的各种情况，例如对实际利率的低产出缺口响应、折现的IS曲线、替代通胀持续性、政策利率的利率平滑、菲利普斯曲线的替代规范、通胀目标、低/高锚定通胀预期和自然利率。

{"title":"Optimal monetary policy in a liquidity trap: Evaluations for Japan’s monetary policy","authors":"Kohei Hasui , Yuki Teranishi","doi":"10.1016/j.jjie.2025.101361","DOIUrl":"10.1016/j.jjie.2025.101361","url":null,"abstract":"<div><div>This paper shows (1) a positive analysis demonstrating that recent high inflation rates can be explained by the Bank of Japan (BOJ)’s monetary policy for the COVID-19 pandemic period, “Inflation-Overshooting Commitment,” and (2) a normative analysis showing that the BOJ’s inflation-overshooting commitment aligns with the optimal monetary policy in a liquidity trap within a new Keynesian model with inflation persistence. In detail, we calibrate a hybrid new Keynesian model by Japanese parameters and show optimal monetary policy under commitment. Optimal monetary policy prolongs the zero interest rate until the second quarter of 2024 even after inflation rates overshoot 2 percent. Similarly, the BOJ continues the zero interest rate policy until the second quarter of 2024. The current average inflation rates from 2023Q4 to 2024Q3 reach 2.6 percent and 2.5 percent in the data and the model, respectively.</div><div>Our conclusion holds for a variety of situations with Japanese parameters, such as a low output gap response to the real interest rate, discounted IS curve, alternative inflation persistences, interest-rate smoothing for the policy rate, an alternative specification of the Phillips curve, inflation target, and low/high anchored inflation expectations and natural interest rates.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"76 ","pages":"Article 101361"},"PeriodicalIF":2.6,"publicationDate":"2025-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143593286","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}

引用次数: 0

The effects of the calculation class in elementary school on student outcomes 小学计算课对学生学习成绩的影响

IF 2.6 3区经济学 Q1 ECONOMICS

Journal of the Japanese and International Economies

Pub Date : 2025-03-01 DOI: 10.1016/j.jjie.2025.101360

Mayuko Abe , Fumio Ohtake , Shinpei Sano

We examine the impact of introducing a calculation class on the academic outcomes of elementary school students. The calculation class is characterized by instruction using an abacus (soroban in Japanese), a traditional calculation tool in Asia, and teaching by abacus instructors. The calculation class was introduced with time lags across schools and birth cohorts, which allows us to exploit the difference-in-differences strategy. Using administrative data from Amagasaki City in Japan, we find that the calculation class increases mathematics and Japanese scores by 0.145 and 0.0874 standard deviations, respectively. To explore possible mechanisms, we investigate the impact of the calculation class on students’ non-cognitive skills, academic behaviors at home, and the classroom environment. The results indicate that the calculation class improves non-cognitive skills, such as grit and motivation for studying. Furthermore, we find heterogeneous effects across gender, socioeconomic status (SES), and previous academic scores. Our estimation results show that the calculation class has a larger impact on the mathematics scores of female students, students from low-SES families, and previously low-performing students. Finally, we explore the long-term effects and find that, for female students, the impact tends to persist for one year after the class ends, but after that, the effects fade out.

我们研究了引入计算课对小学生学业成绩的影响。计算课的特点是使用亚洲传统的计算工具算盘（日语为soroban）进行教学，并由算盘讲师进行教学。计算课引入了不同学校和出生队列的时间滞后，这使我们能够利用差异中的差异策略。利用日本长崎市的行政数据，我们发现计算班将数学和日语成绩分别提高了0.145和0.0874个标准差。为了探索可能的机制，我们调查了计算课对学生非认知技能、在家学习行为和课堂环境的影响。结果表明，计算课提高了非认知技能，如毅力和学习动机。此外，我们发现性别、社会经济地位（SES）和以前的学业成绩之间存在异质性影响。我们的估计结果显示，计算班对女学生、低经济地位家庭学生和以前表现不佳的学生的数学成绩有较大的影响。最后，我们对长期影响进行了研究，发现对于女学生来说，这种影响在课程结束后的一年内仍然存在，但在一年后，这种影响就会逐渐消失。

{"title":"The effects of the calculation class in elementary school on student outcomes","authors":"Mayuko Abe , Fumio Ohtake , Shinpei Sano","doi":"10.1016/j.jjie.2025.101360","DOIUrl":"10.1016/j.jjie.2025.101360","url":null,"abstract":"<div><div>We examine the impact of introducing a calculation class on the academic outcomes of elementary school students. The calculation class is characterized by instruction using an abacus (<em>soroban</em> in Japanese), a traditional calculation tool in Asia, and teaching by abacus instructors. The calculation class was introduced with time lags across schools and birth cohorts, which allows us to exploit the difference-in-differences strategy. Using administrative data from Amagasaki City in Japan, we find that the calculation class increases mathematics and Japanese scores by 0.145 and 0.0874 standard deviations, respectively. To explore possible mechanisms, we investigate the impact of the calculation class on students’ non-cognitive skills, academic behaviors at home, and the classroom environment. The results indicate that the calculation class improves non-cognitive skills, such as grit and motivation for studying. Furthermore, we find heterogeneous effects across gender, socioeconomic status (SES), and previous academic scores. Our estimation results show that the calculation class has a larger impact on the mathematics scores of female students, students from low-SES families, and previously low-performing students. Finally, we explore the long-term effects and find that, for female students, the impact tends to persist for one year after the class ends, but after that, the effects fade out.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"76 ","pages":"Article 101360"},"PeriodicalIF":2.6,"publicationDate":"2025-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143715608","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}

引用次数: 0

What did the Bank of Japan do under the yield curve control policy? 日本央行在收益率曲线控制政策下做了什么？

IF 2.6 3区经济学 Q1 ECONOMICS

Journal of the Japanese and International Economies

Pub Date : 2025-02-18 DOI: 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.

本文全面分析了日本央行近期在日本国债市场实施收益率曲线控制（YCC）的经验。YCC政策于2016年9月启动，目标利率为两种不同期限：隔夜政策利率为-0.1%，较长期10年期日本国债收益率为零，浮动幅度固定但可调整。从短期到长期，至少到2022年初，YCC政策在将利率稳定在低水平方面非常有效。本文通过日本国债和隔夜指数掉期（OIS）市场的收益率曲线动态，探讨了日本央行在YCC政策下所做的事情。经验证据证明了两点。首先，在引入YCC政策时，日本央行通过操纵收益率曲线来提取货币宽松效应的政策空间非常有限。其次，日本央行采取了看似激进但实际上是被动的行动，直接购买日本国债，以应对YCC上限的市场压力。这些发现表明，日本央行引入了YCC政策的可持续货币政策框架，意图将重点转移到维持极低利率环境上，只要有必要。

{"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":"2025-02-18","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}

引用次数: 0

Position in global value chains, trade duration, and firm survival: Empirical evidence from China 全球价值链地位、贸易持续时间与企业生存：来自中国的经验证据

IF 2.6 3区经济学 Q1 ECONOMICS

Journal of the Japanese and International Economies

Pub Date : 2025-02-11 DOI: 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.

全球价值链生产碎片化已成为国际贸易的重要趋势，贸易企业面临着竞争激烈的全球市场。我们使用匹配的企业层面制造业调查和海关数据来研究中国企业在全球价值链中的地位如何影响贸易持续时间和企业在市场上的生存概率。结果表明，与上游位置较低的企业相比，上游位置较高的企业更容易继续当前的贸易活动。随后对企业全球价值链位置对企业生存概率的影响的估计表明，在全球价值链中处于更上游的位置有利于企业在国内和国际市场上的生存。这些发现表明，参与全球价值链并不是企业绩效的唯一重要决定因素，在全球价值链中的定位也很重要。

引用次数: 0

Aggregate implications of changing industrial trends in Japan 日本不断变化的工业趋势的综合影响

IF 2.6 3区经济学 Q1 ECONOMICS

Journal of the Japanese and International Economies

Pub Date : 2025-01-04 DOI: 10.1016/j.jjie.2024.101351

Toyoichiro Shirota , Satoshi Tsuchida

This study examines the extent to which the long-term declining trend in Japan’s GDP growth rate is attributable to factors common to all the industries or those specific to individual industries. By applying Japan’s 1958–2019 data to a multi-industry network model, we obtained the following results. First, common factors explain approximately 60% of the variation in Japan’s long-term GDP growth rate. This result contrasts to that in the US: common factors explain only around 20% of the secular trend in US GDP growth. Second, however, the impact of industry-specific factors is non-negligible. In particular, machinery-industry-specific factors explain much of the low growth in the past 20 years. Finally, the spillover effects from individual industries to the aggregate GDP depend on the role of each industry in the production and investment networks, and in Japan, the influence of investment-related industries such as the machinery industries and construction is substantial.

本研究考察了日本GDP增长率的长期下降趋势在多大程度上归因于所有行业的共同因素或个别行业的特定因素。通过将日本1958-2019年的数据应用到多行业网络模型中，我们得到了以下结果：首先，共同因素解释了日本长期GDP增长率约60%的变化。这一结果与美国的情况形成鲜明对比：共同因素只解释了美国GDP增长长期趋势的20%左右。其次，行业特定因素的影响不容忽视。特别是，机械行业的特定因素在很大程度上解释了过去20年的低增长。最后，单个行业对GDP总量的溢出效应取决于每个行业在生产和投资网络中的作用，在日本，与投资相关的行业（如机械工业和建筑业）的影响是巨大的。

引用次数: 0

Global competition and labor-intensive production in SMEs: Firm-level evidence from Japan at the threshold of the lost decades 全球竞争和中小企业的劳动密集型生产：日本在失去的几十年门槛上的企业层面证据

IF 2.6 3区经济学 Q1 ECONOMICS

Journal of the Japanese and International Economies

Pub Date : 2024-12-21 DOI: 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.

我们分析了感知到的全球竞争对企业重组计划的影响。利用20世纪90年代末日本制造业中小企业的企业层面调查数据，我们发现，尽管制造业中小企业不愿增加研发投资，但在全球竞争激烈的情况下，它们更有可能考虑雇佣低技能移民。这表明这些中小企业正在向更加劳动密集型的组织转变。此外，感知到的全球竞争与雇用移民工人的意愿之间的积极关系部分是由留住年轻工人的困难所调解的。

引用次数: 0

The transmission of monetary policy shocks: Evidence from Japan 货币政策冲击的传导：来自日本的证据

IF 2.6 3区经济学 Q1 ECONOMICS

Journal of the Japanese and International Economies

Pub Date : 2024-12-18 DOI: 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.

在Miranda-Agrippino和Ricco（2021）之后，我们确定了日本的货币政策冲击。我们将这种冲击构建为与日本央行的宏观经济预测以及央行的信息冲击正交（Nakamura和Steinsson， 2018）。我们的研究结果表明，意外的政策收紧是收缩性的，导致产出恶化和价格下跌。货币政策对通货膨胀没有滞后效应。作为对紧缩冲击的回应，价格立即下跌。此外，我们证明了积极的央行信息冲击会增加产出和价格。日本央行出人意料的乐观前景推高了股价，日元贬值。这一证据表明，信息效应在日本经济中起着至关重要的作用，即使在有效下限之下也是如此。

引用次数: 0

Tokenism in gender diversity on board of directors 董事会性别多样性的象征主义

IF 2.6 3区经济学 Q1 ECONOMICS

Journal of the Japanese and International Economies

Pub Date : 2024-11-28 DOI: 10.1016/j.jjie.2024.101342

Kan Nakajima , Yoko Shirasu , Eiji Kodera

This study examines the existence of tokenism in Japanese companies following the implementation of corporate governance reforms. We focus on the appointment of female outside directors. The existence of tokenism on corporate boards is an important issue for companies worldwide because it deals with gender diversity in the appointment of board members. Following the Abenomics policy of empowering females, Japan introduced “Japan's Corporate Governance Code” (the Code), which included board reforms such as appointing at least two outside directors. Using our sample period after the introduction of the Code, we examine whether tokenism occurs in Japan, a country with low female participation in business. The empirical analysis reveals the occurrence of tokenism at the start of the Code's introduction. Companies appoint two outside directors to meet the formal requirements of the Code. They appoint a male outside director first and a female director later as a token. However, tokenism is not observed when busy female directors with extensive experience are appointed to the board, presumably because they have expertise and skills.

本研究检视日本企业在公司治理改革后是否存在象征主义。我们专注于女性外部董事的任命。公司董事会中象征性行为的存在对世界各地的公司来说都是一个重要问题，因为它涉及董事会成员任命中的性别多样性。继赋予女性权力的安倍经济学政策之后，日本推出了“日本公司治理守则”（以下简称“守则”），其中包括任命至少两名外部董事等董事会改革。我们利用《行为准则》出台后的样本期，考察了日本这个女性商业参与率较低的国家是否出现了象征性行为。实证分析表明，在《法典》引入之初，就出现了象征主义。公司委任两名外部董事，以符合守则的正式要求。他们先任命一名男性外部董事，然后再任命一名女性董事。然而，当拥有丰富经验的忙碌女性董事被任命为董事会成员时，可能是因为她们有专业知识和技能，因此不会出现象征性的现象。

{"title":"Tokenism in gender diversity on board of directors","authors":"Kan Nakajima , Yoko Shirasu , Eiji Kodera","doi":"10.1016/j.jjie.2024.101342","DOIUrl":"10.1016/j.jjie.2024.101342","url":null,"abstract":"<div><div>This study examines the existence of tokenism in Japanese companies following the implementation of corporate governance reforms. We focus on the appointment of female outside directors. The existence of tokenism on corporate boards is an important issue for companies worldwide because it deals with gender diversity in the appointment of board members. Following the Abenomics policy of empowering females, Japan introduced “Japan's Corporate Governance Code” (the Code), which included board reforms such as appointing at least two outside directors. Using our sample period after the introduction of the Code, we examine whether tokenism occurs in Japan, a country with low female participation in business. The empirical analysis reveals the occurrence of tokenism at the start of the Code's introduction. Companies appoint two outside directors to meet the formal requirements of the Code. They appoint a male outside director first and a female director later as a token. However, tokenism is not observed when busy female directors with extensive experience are appointed to the board, presumably because they have expertise and skills.</div></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"75 ","pages":"Article 101342"},"PeriodicalIF":2.6,"publicationDate":"2024-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143173080","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}

引用次数: 0

Intergenerational associations between paternal job loss and children's educational attainment in Japan 日本父亲失业与子女受教育程度的代际关系

IF 2.6 3区经济学 Q1 ECONOMICS

Journal of the Japanese and International Economies

Pub Date : 2024-11-17 DOI: 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.

本研究使用庆应义塾家庭面板调查（KHPS）探讨父亲失业与子女教育程度之间的关系，该调查提供了日本具有代表性的面板数据。由于数据的限制，父亲失业的代际后果在日本还没有深入研究。本研究使用来自KHPS学校和工作历史的回顾性数据来解决这一问题，并检查父亲在子女完成义务教育之前失业的影响。此外，本研究不仅采用OLS和logit模型，还采用倾向得分匹配等多种匹配方法来检验这些关系。实证结果有两个发现。首先，父亲的失业与孩子的教育成就负相关。父亲失业的孩子更不可能从大学毕业。此外，父亲失业的孩子受教育的年数也较低。尽管使用了几种匹配方法，这些结果仍然是相同的。其次，即使考虑到父亲收入的下降，也可以观察到父亲的失业与孩子的教育成就之间的负相关。

{"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":"2024-11-17","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}

引用次数: 0

Margins, concentration, and the performance of firms in international trade: Evidence from Japanese customs data 边际利润、集中度和企业在国际贸易中的表现：来自日本海关数据的证据

IF 2.6 3区经济学 Q1 ECONOMICS

Journal of the Japanese and International Economies

Pub Date : 2024-11-14 DOI: 10.1016/j.jjie.2024.101340

Keiko Ito , Masahiro Endoh , Naoto Jinji , Toshiyuki Matsuura , Toshihiro Okubo , Akira Sasahara

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.

本研究首次利用日本 2014-2020 年的海关数据对企业层面的国际贸易进行了全面调查。我们首先将国际贸易分解为密集边际和广泛边际，结果表明密集边际分别约占伙伴国出口和进口变化的 30% 和 40%。接下来，我们发现贸易公司高度集中：2017 年，排名前 10%的出口商占出口总额的 96.6%，而排名前 10%的进口商占进口总额的 94.6%。最后，我们将海关数据与其他企业层面的数据集进行了匹配，并估算了出口企业的绩效前提。我们的研究结果表明，出口制造业企业在销售额、附加值、员工数量、资本劳动比率、生产率和工资等所有方面的表现都优于非出口制造业企业。有趣的是，制造业企业在增加值、劳动生产率和全要素生产率方面的出口商溢价在 2014 年至 2016 年期间有所下降，然后在 2019 年之前有所上升，而平均工资方面的出口商溢价则稳步上升。

{"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":"2024-11-14","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}

引用次数: 0

首页上一页

下一页尾页

类型

全部化学•材料生命科学医学物理工程技术环境•农林材料科学地球科学法学管理学化学环境科学与生态学计算机科学教育学经济学农林科学人文科学生物学数学物理与天体物理心理学综合性期刊其他工业工程理学历史学农学文学信息工程

数据库

全部 ACS Publications Elsevier ieeexplore Springer The Royal Society of Chemistry Wiley

期刊

Journal of the Japanese and International Economies

全部 Acc. Chem. Res. ACS Applied Bio Materials ACS Appl. Electron. Mater. ACS Appl. Energy Mater. ACS Appl. Mater. Interfaces ACS Appl. Nano Mater. ACS Appl. Polym. Mater. ACS BIOMATER-SCI ENG ACS Catal. ACS Cent. Sci. ACS Chem. Biol. ACS Chemical Health & Safety ACS Chem. Neurosci. ACS Comb. Sci. ACS Earth Space Chem. ACS Energy Lett. ACS Infect. Dis. ACS Macro Lett. ACS Mater. Lett. ACS Med. Chem. Lett. ACS Nano ACS Omega ACS Photonics ACS Sens. ACS Sustainable Chem. Eng. ACS Synth. Biol. Anal. Chem. BIOCHEMISTRY-US Bioconjugate Chem. BIOMACROMOLECULES Chem. Res. Toxicol. Chem. Rev. Chem. Mater. CRYST GROWTH DES ENERG FUEL Environ. Sci. Technol. Environ. Sci. Technol. Lett. Eur. J. Inorg. Chem. IND ENG CHEM RES Inorg. Chem. J. Agric. Food. Chem. J. Chem. Eng. Data J. Chem. Educ. J. Chem. Inf. Model. J. Chem. Theory Comput. J. Med. Chem. J. Nat. Prod. J PROTEOME RES J. Am. Chem. Soc. LANGMUIR MACROMOLECULES Mol. Pharmaceutics Nano Lett. Org. Lett. ORG PROCESS RES DEV ORGANOMETALLICS J. Org. Chem. J. Phys. Chem. J. Phys. Chem. A J. Phys. Chem. B J. Phys. Chem. C J. Phys. Chem. Lett. Analyst Anal. Methods Biomater. Sci. Catal. Sci. Technol. Chem. Commun. Chem. Soc. Rev. CHEM EDUC RES PRACT CRYSTENGCOMM Dalton Trans. Energy Environ. Sci. ENVIRON SCI-NANO ENVIRON SCI-PROC IMP ENVIRON SCI-WAT RES Faraday Discuss. Food Funct. Green Chem. Inorg. Chem. Front. Integr. Biol. J. Anal. At. Spectrom. J. Mater. Chem. A J. Mater. Chem. B J. Mater. Chem. C Lab Chip Mater. Chem. Front. Mater. Horiz. MEDCHEMCOMM Metallomics Mol. Biosyst. Mol. Syst. Des. Eng. Nanoscale Nanoscale Horiz. Nat. Prod. Rep. New J. Chem. Org. Biomol. Chem. Org. Chem. Front. PHOTOCH PHOTOBIO SCI PCCP Polym. Chem.

﹀