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Imperfect information and tourist's response to natural disasters Pacific Economic Review (IF 1.467) Pub Date : 2024-03-13 Yoshito Funashima, Kazuki Hiraga
This study investigates the international behaviour of individuals with imperfect information. We used both local and international tourist data pertaining to Hakone in Japan to focus on two natural disasters: the Great East Japan Earthquake (GEJE) and volcanic activity on Mount Hakone. Hotel guests' responses to these shocks were estimated using smooth local projections. The responses of less‐informed
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The causal effects of working time on mental health: The effectiveness of the law reform raising the overtime wage penalty Pacific Economic Review (IF 1.467) Pub Date : 2023-12-09 Miki Kohara, Taisei Noda
The present paper reexamines the causal effect of working hours on workers’ mental health. We utilize Japan's 2010 reform of the Labor Standards Act as a social experiment to examine how the increased wage penalty for long overtime work affects working hours and workers’ mental health. Utilizing a unique panel dataset containing health behaviours as well as individual, household and workplace characteristics
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Middle-income country trap and total factor productivity growth Pacific Economic Review (IF 1.467) Pub Date : 2023-10-24 Young Hoon Lee, Jungsoo Park
This study assessed the factors allowing middle-income countries to achieve higher income levels and thus escape the middle-income trap (MIT). By deriving a stochastic production function using the Cornwell–Schmidt–Sickles (CSS) estimator and country panel data, we successfully distinguished between growth due to total factor productivity (TFP) and that attributable to various production inputs after
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Tax policy and aggregate stability in an overlapping generations model Pacific Economic Review (IF 1.467) Pub Date : 2023-10-24 Jang-Ting Guo, Yan Zhang
In the context of a two-period non-monetary overlapping generations model with Cobb–Douglas preference and technological specifications, this paper explores the theoretical as well as quantitative interrelations between equilibrium (in)determinacy versus (i) a progressive tax schedule on wage income and (ii) a balanced-budget rule with endogenous labour taxation. In sharp contrast to previous studies
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Family bargaining over parental leave: A collective household model with endogenous gender power Pacific Economic Review (IF 1.467) Pub Date : 2023-08-15 Ryo Sakamoto
Although existing studies have suggested that men's leave-taking positively affects children's development and their involvement in childcare and household chores in the long run, the underlying mechanism remains unclear. To shed light on this ambiguity, this study develops a dynamic collective household model and analyses household decisions on parental leave-sharing between spouses, resource allocation
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Risk attitude, risky behaviour and price determination in the sex market: A case study of Yangon, Myanmar Pacific Economic Review (IF 1.467) Pub Date : 2023-08-08 Hiroyuki Yamada, Yuki Kanayama, Kanako Yoshikawa, Kyaw Wai Aung
Commercial sex is a prevalent but risky profession in many countries, including Myanmar. Although risk attitude is a potentially important factor in determining risky behaviour of female sex workers (FSWs), few studies have explicitly investigated the issue. This is one of the first studies to elicit the risk attitude of FSWs using a simple risk game. We conducted the risk game with FSWs in Yangon
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Impacts of enterprise zones on local households in Vietnam Pacific Economic Review (IF 1.467) Pub Date : 2023-06-12 Tien Manh Vu, Hiroyuki Yamada
We examine the possible impacts of enterprise zones (EZs) on local Vietnamese households between 2002 and 2008, using differences-in-differences and a panel-event study. We layer four waves of household surveys using a census of EZs in 2007, based on the same commune identity for our household and individual analyses. Within 5 years of EZ establishment, we find they are associated with higher household
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Benefits of foreign direct investment subsidies: The role of funding sources Pacific Economic Review (IF 1.467) Pub Date : 2023-06-03 Wontae Han, Jian Wang, Xiao Wang
Using a two-country model with heterogeneous firms, we show that the optimal level and welfare gains of foreign direct investment (FDI) subsidies critically depend on how they are funded. In a setting that resembles tax distortions in emerging markets, we compare the effects of distortionary taxes that are imposed to fund FDI subsidies and examine their cross-country spillovers. We find that the optimal
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Zero population growth rate and eldercare hours: Are both optimal for some European Union countries?# Pacific Economic Review (IF 1.467) Pub Date : 2023-03-16 Tatsuyoshi Miyakoshi
As zero population growth rates have existed for approximately 30 years in many European Union countries, one wonders whether this is optimal in these countries, considering differences in consumer preferences and wages. In this paper, we construct a framework to examine this issue, in particular incorporating both eldercare and immigration. Our theoretical and empirical analyses show that zero population
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Gender quota in the civil service and female participation: Evidence from Nepal Pacific Economic Review (IF 1.467) Pub Date : 2023-02-07 Hari Prasad Upadhaya, Illoong Kwon
Female quotas for high-ranking positions in corporations and governments should (i) increase the hiring of women and (ii) inspire more women to apply for these positions. The goal will be that eventually, (iii) even without the quota, more women will apply to and succeed in high-ranked positions. This paper exploits the variations of female quotas in Nepalese civil service exams across years, services
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Macroeconomic effects of family business inheritance tax reduction: Evidence from South Korea Pacific Economic Review (IF 1.467) Pub Date : 2023-02-01 Jung Joo La
This study examines the macroeconomic effects of family business inheritance tax reduction in South Korea using a theoretical model that addresses the problem of a family member's occupational choice decision between being a worker and being an entrepreneur. In contrast with previous studies, the model considers the distribution of firm size. The effect of the reduction in the family business inheritance
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Endogenous timing, strategic tariff game and bilateral trade in vertical oligopoly Pacific Economic Review (IF 1.467) Pub Date : 2022-10-19 Tai-Liang Chen, Ying Kuang
This paper builds an observable delay game in endogenous timing to study the possible occurrence of trade wars in a vertical, bilateral trade model. It examines the effects of production cost differences and order of moves on optimal tariffs, market equilibria, dumping margin and social welfare in both fixed timing and endogenous timing games. In a fixed timing game, it shows that price dumping in
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Pandemic-induced fear and government policy response as a measure of uncertainty in the foreign exchange market: Evidence from (a)symmetric wild bootstrap likelihood ratio test Pacific Economic Review (IF 1.467) Pub Date : 2022-10-17 Khyati Kathuria, Nand Kumar
The paper aims to examine the ability of a global fear index (GFI) based on the COVID-19 pandemic and government policy responses as a measure of uncertainty in predicting eight Indian rupee-based exchange rate return series: the Australian dollar, the Canadian dollar, the Swiss franc, the US dollar, the euro, the British pound sterling, the New Zealand dollar, and the Japanese yen. The predictability
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International currency markets and the COVID-19 pandemic Pacific Economic Review (IF 1.467) Pub Date : 2022-10-13 Hsuan Fu, Jui-Chung Yang
We find that quantifying COVID-19 pandemic shocks is critical to understanding international currency market returns. Scaled by population, shocks from between-country differences in the number of weekly COVID-19 deaths are informative in predicting exchange rate returns. Following Alfaro et al. (2020), we estimate the expected number of COVID-19 deaths based on an exponential model and use it to construct
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Effect of COVID-19 stimulus payments on sales of local small businesses: Quasi-experimental evidence from Korea Pacific Economic Review (IF 1.467) Pub Date : 2022-09-23 Hoon Choi
This paper examines how sales of local small businesses can be promoted through COVID-19 stimulus payments. In the beginning of April, 2020, The Gyeonggi provincial government in Korea implemented a stimulus payment program worth up to 500 thousand Korean Won (416 US dollars) per person to encourage local consumption. By exploiting unique features of the stimulus payments that restricted the use of
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Market-wide shocks and the predictive power for the real economy in the Korean stock market Pacific Economic Review (IF 1.467) Pub Date : 2022-09-20 Jinyong Kim, Yongsik Kim
We examine the predictive power of the stock market return for real economic growth corresponding to market-wide shocks in Korea. The periods of large market-wide shocks, such as the COVID-19 pandemic, are characterized by the stock return synchronicity and volatility that can measure price informativeness. We find that the predictive power of the stock market return disappears when stock returns show
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Concentration in Asia's cross-border banking: Determinants and impacts Pacific Economic Review (IF 1.467) Pub Date : 2022-07-20 Ana Kristel Lapid, Rogelio Mercado, Peter Rosenkranz
Cross-border bank positions in Asia and the Pacific remain highly concentrated among a few counterparties, exposing the region to financial risks and policy spillovers. Consequently, assessing the determinants and impacts of the region's cross-border banking concentration is relevant to the design of appropriate policies for promoting financial development and safeguarding financial stability. To this
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Sectoral FTA gains, conflicts, and the role of interindustry factor mobility: Evidence from Korea's free trade agreement Pacific Economic Review (IF 1.467) Pub Date : 2022-07-17 Jin Suk Park, Eunju Hwang
Free trade agreements (FTAs) can ignite domestic conflicts between export- and import-competing industries over trade gains. However, if the factors of production, such as capital and labour, move freely across industries, the returns to factor owners will quickly converge. Then, sectoral conflicts over FTAs will be less likely to arise. We analyse the case of South Korea's FTAs to measure (a) sectoral
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North–South asymmetry, unilateral environmental policy and carbon tariffs Pacific Economic Review (IF 1.467) Pub Date : 2022-07-13 Liming Hong, Wei Huang, Sajid Anwar, Xiaofeng Lv
This paper focuses on the potential impact of a carbon tariff on carbon emissions, North–South trade and welfare. We use a North–South trade model, where North implements a unilateral environmental policy on domestic carbon-intensive industries followed by a carbon tariff on imports from South. Unlike the existing studies, we allow asymmetry in clean production technologies and marginal environmental
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Belief and higher-order belief in the centipede games: An experimental investigation Pacific Economic Review (IF 1.467) Pub Date : 2022-07-10 Yun Wang
This paper experimentally explores the epistemic conditions behind people's non-equilibrium behaviour in the centipede games. We propose a novel design of laboratory experiment to elicit people's first- and second-order beliefs regarding their opponents' choices and beliefs. The measured beliefs, together with the choice data, help us to estimate people's level of rationality, belief of rationality
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Gender wage penalty in parenthood: A comparative study of South Korea and Japan Pacific Economic Review (IF 1.467) Pub Date : 2022-07-07 Hanna Jung
Both South Korea and Japan attach significant importance to women′s marriage and their role in the family. Based on this fact, the present study analyzed gender wage penalty in parenthood in both the countries and compared the size and characteristics. We used conditional quantile regression models with counterfactual decomposition, and panel data from South Korea and Japan for 2007–2014. Results suggest
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How competitive is the Syrian banking sector? Empirical evidence from ‘pre/post’ war Syria Pacific Economic Review (IF 1.467) Pub Date : 2022-04-10 Mazen Mohamd Diwani
This paper investigates the degree of market power in the Syrian banking sector over the period 2005–2016 where research on competitive conditions does not exist. The degree of competitiveness is assessed based on the revenue elasticity to input prices approach and is related to a set of market indicators. To test whether the Syrian crisis has altered the competitive conditions over the years of the
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Does fiscal decentralization affect local governments' strategic behaviours? Evidence from South Korea Pacific Economic Review (IF 1.467) Pub Date : 2022-03-28 Soyoung Park, Sungchan Kim
Local governments tend to show strategic behaviours when making their spending decisions. However, few studies have examined strategic behaviours when promoting fiscal decentralization. Thus, this study empirically examines the presence of strategic interactions in expenditure decisions in South Korea as well as how fiscal decentralization affects those interactions, using a panel data set from 2010
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Effects of tax benefits on the price elasticity of charitable contributions in South Korea Pacific Economic Review (IF 1.467) Pub Date : 2022-03-21 YoungRok Kim
Using South Korean panel data from 2008 to 2019 and censored quantile regression method, this study calculates the effects of different tax incentives on charitable contributions. We observe price elasticity under two different tax-benefit systems in South Korea and find that, first, taxpayers tend to be more sensitive to tax incentives under a tax deduction system than a tax credit system. The price
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Time-varying effect of monetary policy on capital flows in Korea Pacific Economic Review (IF 1.467) Pub Date : 2022-01-18 Joonyoung Hur, Kyunghun Kim
This paper examines the effect of domestic monetary policy on capital flows after controlling for the effect of conventional push factors (global factors). We conduct a time-varying coefficient vector autoregressive (TVC-VAR) model analysis using monthly data (January 2010–July 2019) from Korea. Our empirical results show that an expansionary monetary policy shock has a short-run (1- and 3-month) negative
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How do marital formation and dissolution differ across employment statuses? Analysis of Japanese non-regular employees Pacific Economic Review (IF 1.467) Pub Date : 2022-01-31 Julen Esteban-Pretel, Junichi Fujimoto
Over time, Japan has seen an increase in non-regular employment and a shift away from marriage. To uncover any link between these issues, this paper uses Japanese Labour Force Survey microdata to examine annual transitions between marital statuses and how such transitions vary across labour market statuses, in particular between male regular and non-regular employees. We find, for different age groups
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Regional disparities, firm heterogeneity, and the activity of Japanese manufacturing multinationals in India Pacific Economic Review (IF 1.467) Pub Date : 2022-01-30 Hiroyuki Nishiyama, Azusa Fujimori, Takahiro Sato
This paper empirically explores the determinants of Japanese multinational enterprise (MNE) activity in India using firm-level data, with particular focus on the country or regional characteristics predicted from a North–South firm-heterogeneity model featuring foreign direct investment (FDI), the exchange rate, and endogenous wages. We identify the economic variables and country or regional characteristics
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Service trade network structure and its determinants in the Belt and Road based on the temporal exponential random graph model Pacific Economic Review (IF 1.467) Pub Date : 2021-10-04 Lianyue Feng, Helian Xu, Gang Wu, Wenting Zhang
Service trade has become an important engine of world economic growth. Using complex network method and temporal exponential random graph models, we constructed the Belt and Road service trade networks (BR-STNs) and global service trade networks (G-STNs) in 2010–2017, systematically analysed the features of BR-STNs compared with G-STNs, and tested the factors affecting their evolution. We find that
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ERRATUM Pacific Economic Review (IF 1.467) Pub Date : 2021-12-12
The authors would like to draw the readers' attention to an error in the following article: Lee H and J-W Lee (2021) ‘Patterns and determinants of intergenerational educational mobility: Evidence across countries’ Pacific Economic Review 26, 70–90. The correct Appendix Table A1 is shown below: APPENDIX TABLE A1. Intergenerational Regression Coefficient by Country and Cohort Country Age cohort 25–65
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Score manipulation, density continuity and intent-to-treat effect for regression discontinuity Pacific Economic Review (IF 1.467) Pub Date : 2021-11-11 Jin-young Choi, Myoung-jae Lee
Regression discontinuity (RD) is widely used in many disciplines of science to find treatment effect when the treatment is determined by an underlying running variable (‘score') crossing a cutoff or not. The main attraction of RD is local randomization around , which is, however, often ruined by manipulation on . To detect manipulation, the continuity of score density function at is routinely tested
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Macroeconomic effects of COVID-19: A mid-term review* Pacific Economic Review (IF 1.467) Pub Date : 2021-09-05 Phurichai Rungcharoenkitkul
This article provides an interim assessment of the macroeconomic consequences of the COVID-19 pandemic. Estimates suggest a median output loss of approximately 6.5% in 2020, a gap that is expected to narrow to around 4% of the pre-pandemic trend by the end of 2021. There is, however, a high dispersion of economic losses across economies, reflecting varying exposures to the pandemic and societies' responses
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Fiscal response to the COVID-19 crisis in advanced and emerging market economies† Pacific Economic Review (IF 1.467) Pub Date : 2021-08-17 Enrique Alberola, Yavuz Arslan, Gong Cheng, Richhild Moessner
The fiscal policy response to the COVID-19 crisis was swift and strong, in tandem with monetary policy. Advanced economies (AEs) deployed a much larger fiscal response than emerging market economies (EMEs) throughout the pandemic. This study focuses on the drivers of this divergent fiscal response in the first months of the pandemic. Apart from the fact that EMEs entered the crisis later than AEs,
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The effects of COVID-19 containment measures on the Asia-Pacific region Pacific Economic Review (IF 1.467) Pub Date : 2021-08-21 Davide Furceri, Siddharth Kothari, Longmei Zhang
As the COVID-19 pandemic spread across the world, governments introduced significant containment measures to control the spread of the virus. In this paper, we leverage inputs from IMF desk economists to construct a novel narrative index of containment measures for 11 countries in the Asia-Pacific region. A key innovation in our index is that it distinguishes between economic sectors (services, industry
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COVID-19, asset markets and capital flows Pacific Economic Review (IF 1.467) Pub Date : 2021-08-11 John Beirne, Nuobu Renzhi, Eric Sugandi, Ulrich Volz
This paper empirically examines the reaction of global financial markets across 38 economies to the COVID-19 outbreak, with special focus on the dynamics of capital flows across 14 emerging market economies. The effectiveness of fiscal and monetary policy responses to COVID-19 is also tested. Using daily data over the period January 4, 2010 to August 31, 2020, and controlling for a host of domestic
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Cross-border bank flows through foreign branches and the effect of a macroprudential policy Pacific Economic Review (IF 1.467) Pub Date : 2021-09-28 Youngjin Yun
Global banks play an important role in the international transmission of shocks by allocating funds across the world through their foreign affiliates. Using monthly data on individual foreign bank branches in Korea from 2004 to 2018, this paper investigates how global banks propagate shocks and examines the effect of one particular macroprudential measure that was introduced to reduce the volatility
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Revisiting the return-volatility relationship of exchange rates: New evidence from offshore RMB Pacific Economic Review (IF 1.467) Pub Date : 2021-09-23 Yue Chen, Juan Lin, Ximing Wu
This study investigates the return-volatility relationship of the offshore Chinese RMB (CNH). Based on a regime-switching copula model, we find that the return-volatility relationship has changed since the August 2015 reform of the central parity formation mechanism. Before the reform, implied volatility increased only in response to CNH depreciation. After the reform, both large depreciation and appreciation
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Who takes the hit? Gender differences in employment outcomes after disasters Pacific Economic Review (IF 1.467) Pub Date : 2021-09-22 Po Yin Wong
We estimate the individual labor market outcomes in Indonesia using historical data to isolate the plausibly exogenous variation in local labor market conditions due to unexpected natural hazards. We find that men substitute labor away when there are more unanticipated disasters while women work more. These gender differences in employment elasticities are heterogeneous by land ownership and education
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Macroeconomic stability under balanced-budget rules and no-income-effect preferences Pacific Economic Review (IF 1.467) Pub Date : 2021-03-14 Jang-Ting Guo, Yan Zhang
It has been shown that under an additively separable preference formulation between consumption and hours worked, indeterminacy and sunspots may arise in a standard one-sector or two-sector real business cycle model when the labor tax rate is endogenously determined by a balanced-budget rule with a pre-specified constant level of government expenditures. Our analysis finds that this indeterminacy result
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How inequality hurts growth: Revisiting the Galor–Zeira model using the Korean case Pacific Economic Review (IF 1.467) Pub Date : 2021-01-28 Bogang Jun, Mary Kaltenberg, Won-Sik Hwang
This paper aims to show that the level of inequality increases via the human capital channel, with credit market imperfections generating negative effects on economic growth. We expand the model presented by Galor and Zeira (Galor and Zeira, Review of Economic Studies, 1993, 60, 35–52) to represent the fact that the economy benefits from endogenous technological progress and that the government provides
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The income elasticity of import demand: A meta-survey Pacific Economic Review (IF 1.467) Pub Date : 2021-01-27 Makram El-Shagi, William C. Sawyer, Kiril Tochkov
Import demand has been a major research topic in international economics for the past 80 years because of its importance for analyzing trade and evaluating trade policies. The goal of this paper is to survey the literature and conduct a meta-analysis of empirical studies on import demand with the intention of clarifying the effect of economic development on income elasticity. In particular, we test
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Employment and output effects of federal regulations on small business Pacific Economic Review (IF 1.467) Pub Date : 2021-01-20 Dustin Chambers, Jang-Ting Guo
This paper examines the disparate impact of US federal regulations on small businesses. Using a two-sector dynamic general equilibrium model, we obtained two implications of higher regulation on small firms that have yet to be empirically tested in the published literature. First, as regulations increase, small firms’ share of employment shrinks. Second, as regulations rise, small firms’ share of total
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Motives behind community participation: Evidence from natural and artefactual field experiments in Sri Lanka Pacific Economic Review (IF 1.467) Pub Date : 2020-12-21 Masahiro Shoji, Keitaro Aoyagi, Ryuji Kasahara, Yasuyuki Sawada
We tested four alternative hypotheses concerning the motivations behind the participation by rural households in community work: public goods investment, production network formation, risk‐sharing network formation, and pure altruism. We used a unique dataset from an irrigation project in Sri Lanka under a natural experimental situation where a significant portion of irrigated land was allocated through
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The impact of government bond purchases by the central banks in Japan, the United States, and the United Kingdom Pacific Economic Review (IF 1.467) Pub Date : 2020-12-06 Masahiko Nakazawa
This paper analyzes the impact on financial markets of purchases of government bonds under the zero lower bound on interest rates. Using data of amount of government bonds purchased by the central banks which are categorized by remaining maturity as reported in Nakazawa and Yano (2014) “Portfolio rebalancing effects of open market operations after the global financial crisis: Evaluation through the
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Macroeconomic, institutional, and sectoral determinants of outward foreign direct investment: Evidence from Japan Pacific Economic Review (IF 1.467) Pub Date : 2020-09-28 Raphael Chiappini, François Viaud
This paper empirically explores the determinants of outward foreign direct investment (FDI) in the Japanese manufacturing sector. We estimate a gravity model of FDI for 30 host countries covering the period 2005–2017, using Poisson pseudo maximum likelihood to tackle the issue of zero-value observations. The results indicate that Japanese overseas investments are not only driven by traditional factors
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Assessment of innovation and foreign direct investment: An investigation of OECD countries Pacific Economic Review (IF 1.467) Pub Date : 2020-09-20 Boying Li, Chun-Ping Chang, Mingbo Zheng
Using a panel cointegration method incorporating structural breaks and cross-sectional dependence, this paper explores the long-run equilibrium relationship between innovation and foreign direct investment (FDI) in 30 OECD countries. The results from the panel stationary test show that FDI and innovation variables follow a stationary process with several structural breaks over the period 1999–2018
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Effect of marriage registration on fertility and intrahousehold distribution in Thailand Pacific Economic Review (IF 1.467) Pub Date : 2020-09-17 Ho Lun Wong
Research has shown that changes in the marriage and family laws generally affect the formation, welfare distribution, and dissolution of marriage. However, little is known about the effects of constituting state-sanctioned marriage as opposed to informal marriage, where these laws do not fully apply. The present paper studied the effects of formal marriage registration on fertility outcomes and intrahousehold
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Corruption impacting regional economic growth: A dynamic panel data analysis for the case of Vietnam Pacific Economic Review (IF 1.467) Pub Date : 2020-08-18 Hoa T. Truong
This study analyses the effects of corruption on Vietnamese provinces and cities’ economic growth using a dynamic panel data analysis with a system generalized method of moments approach. Although this study investigates both the direct and indirect effects of corruption, it focuses more on the direct effects. The estimation results consistently support the assertion that, in general, corruption is
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Patterns and determinants of intergenerational educational mobility: Evidence across countries Pacific Economic Review (IF 1.467) Pub Date : 2020-08-09 Hanol Lee, Jong‐Wha Lee
This study analyses the patterns and determinants of the intergenerational persistence of education attainment. Internationally comparable data are used by age cohort for parentsʼ and childrenʼs education levels for 30 countries. The intergenerational regression coefficients are estimated by explicitly considering the bias from the censored regressor, and they show that educational mobility has worsened
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Dynamic effects of changes to Japanese immigration policy Pacific Economic Review (IF 1.467) Pub Date : 2020-05-27 Scott C. Bradford, Kerk L. Phillips
This paper uses a single‐sector dynamic stochastic general equilibrium model with heterogeneous households to analyse Japanese immigration policy. We examine the effects on output, consumption, factor prices, and utility. We do this for both steady states and transition paths. We find that: (a) aggregate output, investment, and consumption in Japan are likely to rise with any sort of loosening of immigration
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Empirical examination of the role of fintech in monetary policy Pacific Economic Review (IF 1.467) Pub Date : 2020-04-15 Muhammad Z. Mumtaz, Zachary A. Smith
Over the past decade, technological innovations have changed the dynamics of the financial system. As a result, firms have used cellular phones, the Internet, and digital currencies to facilitate exchanges and operate their businesses. This course of action affects the transmission mechanism of monetary policy. The goal of the present study is to examine the role that fintech plays in the transmission
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Effect of foreign exchange intervention: The case of Korea Pacific Economic Review (IF 1.467) Pub Date : 2020-01-20 Seojin Lee, Young Min Kim
Using a rolling‐window approach that allows time‐varying coefficients, we estimate the vector autoregressive model with the Markov chain Monte Carlo method to analyse the effectiveness of foreign exchange interventions in Korea. Our results show that a negative shock in international reserves (buying domestic currency or selling foreign currency) results in a significant appreciation of the domestic
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Do university sports function as advertising in the Japanese higher education market? An analysis of the Hakone Ekiden long‐distance relay road race Pacific Economic Review (IF 1.467) Pub Date : 2019-11-28 Eiji Yamamura
The Hakone Ekiden, a university‐level long‐distance relay race, is the premier New Year's sporting event in Japan. It is held immediately prior to the university application period. Using panel data for 2001 to 2015, I examined how this race influences the number of applicants for university entrance examinations. The major finding is that applicants per intake for a particular department in a university
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Beyond trade creation: Preferential trade agreements and trade disputes Pacific Economic Review (IF 1.467) Pub Date : 2019-10-30 Tan Li, Larry D. Qiu
This study investigates the effects of preferential trade agreements (PTA) on bilateral trade disputes. We construct a unique and comprehensive dataset on inter‐country trade disputes from 1995 to 2007. The dataset covers 110 countries and 1,162 bilateral country‐pair trade disputes. Using this dataset in a gravity‐type model of trade dispute analysis, we find that countries belonging to the same PTA
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Survey on technical efficiency in higher education: A meta‐fractional regression analysis Pacific Economic Review (IF 1.467) Pub Date : 2019-08-22 Renato A. Villano, Carolyn‐Dung T. T. Tran
There has been remarkable growth in the number of studies using data envelopment analysis (DEA) in research on higher education. Heterogeneous DEA models have been applied in assessing the performance of higher education institutions (HEIs), and the multi‐faceted production process of higher education has further motivated the extension and improvement of the DEA approach. The present study conducts
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Alternate instruments to manage the capital flow conundrum: A study of selected Asian economies Pacific Economic Review (IF 1.467) Pub Date : 2019-05-20 Rajeswari Sengupta, Abhijit Sen Gupta
Capital inflows to and outflows from emerging market economies (EME) have increased significantly since 2000. This rapid increase, accompanied by a sharp rise in volatility, has amplified the complexity of macroeconomic management in EME. While foreign capital provides additional financing for productive investment and offers avenues for risk diversification, unbridled flows exacerbate financial and
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Symposia on Challenges for Emerging Asia: Capital Flows and Quality Growth Pacific Economic Review (IF 1.467) Pub Date : 2019-05-01 David Cook,Frank Westermann,James Yetman
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Hoarding of international reserves: It's a neighbourly day in Asia Pacific Economic Review (IF 1.467) Pub Date : 2019-04-17 Yin‐Wong Cheung, Xingwang Qian, Eli Remolona
To explain why Asian countries seem to have been hoarding international reserves, especially since the 1997 crisis, we consider various regional neighbourhood effects. One such effect is that of “catching up with the Joneses”. We revisit that effect by analysing several refinements of it. We also consider the fear of the kind of contagion that the crisis‐hit countries saw in 1997. Finally, we look
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Effect of religious priming in prosocial and destructive behaviour Pacific Economic Review (IF 1.467) Pub Date : 2019-03-28 Jipeng Zhang, Elizabeth Brown, Huan Xie
In this paper, we study the behavioural impact of religious priming by showing participants religious words in a scrambled sentence task before a dictator game and a joy‐of‐destruction game. We also elicited data on individual religiosity and religious affiliation using a questionnaire. Priming religious words significantly increased prosocial behaviour in the dictator game, and the effect was especially
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Sustainable financing for climate and disaster resilience in Atoll Islands: Evidence from Tuvalu and Kiribati Pacific Economic Review (IF 1.467) Pub Date : 2019-03-28 Tauisi Taupo
This paper examines the financing of disaster risk management. Future climate and disaster risks are predicted to impose increasing financial pressure on the governments of low‐lying atoll nations. The aftermath of a disaster, such as a cyclone, requires financial means for quick response and recovery. We quantify the appropriate levels of financial support for expected disasters in Tuvalu and Kiribati
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Reaching up and reaching out: The impact of competition on firms’ productivity and export decisions Pacific Economic Review (IF 1.467) Pub Date : 2018-11-25 Eric E. O. Opoku, Isabel K. M. Yan, Kate Hynes
Using firm‐level data from 139 countries, this paper investigates the effect of competition in both the domestic and foreign markets on firm productivity and export decisions. Applying a sample selection endogenous treatment (SSET) Poisson model that tackles both the issue of endogenous sample selection and endogenous treatment at the same time, we document robust evidence that strong competition in