Related papers: Market Integration in the Prewar Japanese Rice Mar…
This study analyzes how colonial rice trade in prewar Japan affected its rice market, considering several government interventions in the two rice futures exchanges in Tokyo and Osaka. We explore the interventions in the futures markets…
This paper studies the interrelation between spot and futures prices in the two major rice markets in prewar Japan from the perspective of market efficiency. Applying a non-Bayesian time-varying model approach to the fundamental equation…
We investigate the relationship between market efficiency of rice futures transaction in Osaka and the Japanese government intervention in rice distributions by directly buying and selling rice during the interwar period, from the middle…
We compiled the first high-frequency rice price panel for Taiwan from August 1945 to March 1947, during the transition from Japanese rule to China rule. Using regression models, we found that the pattern of rice price changes could be…
This study explores the time-varying structure of market efficiency in the prewar and wartime Japanese stock market using a new market capitalization-weighted stock price index, the equity performance index. We examine whether the adaptive…
We investigate an economic system in which one large agent - the Japan government changes the environment of numerous smaller agents - the Japan agriculture producers by indirect regulation of prices of agriculture goods. The reason for…
This paper explores when the financial market lost the price formation function in prewar Japan in the sense of Fama's (1970) semi-strong form market efficiency using a new dataset. We particularly focus on the relationship between the…
This study examines the adaptive market hypothesis (AMH) in Japanese stock markets (TOPIX and TSE2). In particular, we measure the degree of market efficiency by using a time-varying model approach. The empirical results show that (1) the…
We used natural language processing to analyze a billion words to study cultural differences on Weibo, one of China's largest social media platforms. We compared predictions from two common explanations about cultural differences in China…
Post-World War II , there was massive internal migration from rural to urban areas in Japan. The location of Sumo stables was concentrated in Tokyo. Hence, supply of Sumo wrestlers from rural areas to Tokyo was considered as migration.…
The interdependent nature of the global economy has become stronger with increases in international trade and investment. We propose a new model to reconstruct the international trade network and associated cost network by maximizing…
In this paper, we study a daycare matching problem in Japan and report the design and implementation of a new centralized algorithm, which is going to be deployed in one municipality in the Tokyo metropolis. There are two features that make…
Two decades of studies have found significant regional differences in the timing of transitions in national business cycles and their durations. Earlier studies partly detect regional synchronization during business cycle expansions and…
By fully accounting for the distinct tariff regimes levied on imported meat, we estimate substitution elasticities of Japan's two-stage import aggregation functions for beef, chicken and pork. While the regression analysis crucially depends…
In economics comparative analysis plays the same role as experimental research in physics. In this paper we closely examine several methodological problems related to comparative analysis by investigating the specific example of grain…
This paper is the first study to examine the time instability of the APT in the Japanese stock market. In particular, we measure how changes in each risk factor affect the stock risk premiums to investigate the validity of the APT over…
International food trade is a growing complement to gaps in domestic food supply and demand, but it is vulnerable to disruptions due to some unforeseen shocks. This paper assembles the international crop trade networks using maize, rice,…
In Japan, severe rice shortages in 2024 sparked widespread public controversy across both news media and social platforms, culminating in what has been termed the "Reiwa Rice Riot." This study proposes a framework to analyze the temporal…
We investigated the temporally evolving network structures of the Japanese and Korean stock markets through the minimum spanning trees composed of listed stocks. We tested the validity of conventional grouping by industrial categories, and…
I analyze the risk-coping strategies of factory-worker households in early twentieth-century Tokyo. I digitized a unique daily longitudinal household budget survey conducted in Tsukishima, a representative manufacturing area, to examine how…