This book aims to explain to the readers the basic idea of the general equilibrium theory, which forms the core of the current mainstream economics called neoclassical school. To understand this theory is absolutely necessary, either to study further or to criticize the contemporary economic theories. The author not only explains traditional theories, but also makes clear the many problems which are still unsolved.
As a text book or reference book for those students who are studying microeconomics for the first time, the author recommends the use of Chapter 1, Chapter 2 (except...
This book aims to explain to the readers the basic idea of the general equilibrium theory, which forms the core of the current mainstream economics...
Despite the globalization of accounting standards occurring through convergence to International Financial Reporting Standards, local accounting systems are deeply intertwined with each country s unique institutions such as its corporate system, disclosure practices and enforcement mechanisms. First, this book empirically analyzes the effects of globalization and localization of accounting rules on corporate behavior such as earnings management, signaling, investment behavior and dividend payout policy. Second, the book unravels the economic consequences of disclosure based on the concept of...
Despite the globalization of accounting standards occurring through convergence to International Financial Reporting Standards, local accounting syste...
This book reconstructs Keynesian macroeconomics so that it is compatible with the neoclassical dynamic microeconomic theory. This theory adopts three postulates: rational expectations, perfect price flexibility, and exclusion of the money in utility function (MIU). Based on the new theoretical finding that the Lucas model (1972) contains multiple equilibria, the author unifies Keynesian and monetarist theories within the same framework. The book applies the above basic theory to international macroeconomics and economic growth theory. New Keynesian theory contains logical inconsistencies:...
This book reconstructs Keynesian macroeconomics so that it is compatible with the neoclassical dynamic microeconomic theory. This theory adopts three ...
This book is one of the first comprehensive works to fill the knowledge gap resulting from the limited number of empirical studies on interfirm networks. The in-depth empirical research presented here is based on a massive transaction relationship database of approximately 400,000 Japanese firms. This volume, unlike others, focuses on the role of interfirm networks in three different fields: (1) macroeconomic activities, (2) economic geography and firm dynamics, and (3) firm-bank relationships. The database for this work is constructed in collaboration with Japan's largest credit research...
This book is one of the first comprehensive works to fill the knowledge gap resulting from the limited number of empirical studies on interfirm networ...
Over the past two decades, the issue of equilibrium indeterminacy has been one of the major research concerns in macroeconomic dynamics. Growth and Business Cycles with Equilibrium Indeterminacy discusses the main topics in this literature. Based on comprehensive surveys and the author's original research, this book explores sunspot-driven fluctuations in real business cycle models, multiple equilibria in endogenous growth models, and the relation between fiscal policy and indeterminacy. The book also considers indeterminacy in open economy models as well as in models with financial frictions...
Over the past two decades, the issue of equilibrium indeterminacy has been one of the major research concerns in macroeconomic dynamics. Growth and Bu...
Based on recent advances in economics, especially those in behavioral economics, this book elucidates theoretically and empirically the mechanism of time-inconsistent decision making that leads to various forms of self-destructive behavior. The topics include over-eating and obesity, over-spending, over-borrowing, under-saving, procrastination, smoking, gambling, over-drinking, and other intemperate behaviors, all of which relate to serious social problems in advanced countries.
In this book, the author attempts to construct a bridge between the basic theory of time discounting,...
Based on recent advances in economics, especially those in behavioral economics, this book elucidates theoretically and empirically the mechanism o...
This book develops new, original methods of welfare comparison and comparative dynamics between distinct and discretely positioned (rather than continuously related) socioeconomic situations. These methods are not only realistic but also extremely relevant to serious economic problems. Using them, the book sheds illuminating new light on the theoretical analysis of Keynesian economics and other important issues of political economy. For instance, it shows that the principle of effective demand applies exactly as Keynes put it to the unemployment equilibrium in the short run. It also shows...
This book develops new, original methods of welfare comparison and comparative dynamics between distinct and discretely positioned (rather than con...
This book, based on economics and game theory, analyzes the changes that Japan is now facing as a reflection of changes in Japanese families and society. The author presents a simple framework for the structural relationship among markets, communities including families, and the state; and uses it to explain the changes that have occurred in Japanese society. Social changes have created a series of social problems such as population ageing, inequality, and regional disparities, which require changes in public policies. The book provides readers with rich information about the Japanese...
This book, based on economics and game theory, analyzes the changes that Japan is now facing as a reflection of changes in Japanese families and so...
This book answers the question of how exactly property price indexes should be constructed. The formation and collapse of property bubbles has had a profound impact on the economic administration of many nations. The property price bubble that began around the mid-1980s in Japan has been called the 20th century's biggest bubble. In its aftermath, the country faced a period of long-term economic stagnation dubbed the "lost decade." Sweden and the United States have also faced collapses of property bubbles in the 20th and early 21st centuries, respectively.
It has been pointed...
This book answers the question of how exactly property price indexes should be constructed. The formation and collapse of property bubbles has had ...
Symmetry and Economic Invariance (second enhanced edition) explores how the symmetry and invariance of economic models can provide insights into their properties.
Symmetry and Economic Invariance (second enhanced edition) explores how the symmetry and invariance of economic models can provide insights into their...
