Reitaku University Academic Repository / 麗澤大学学術リポジトリ
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[NOTE] Why Do Vacant Homes Zombie Born ?
Get PDFIn this paper, we investigate generation process of vacant housing. And we analyze that how real estate prices are affected by aging. We run regional panel regressions for Japan. Our regression results show that, in Japan, real estate prices in a region are inversely correlated with the old age dependency ratio, i.e. the ratio of population aged 65 +to population aged 20-64, in that region, and positively correlated with the total number of population in that region. The demographic factor had a greater impact on real estate prices in Japan. Based on the regression result for Japan and the population forecast made by a government agency, we estimate the demographic impact on Japanese housing prices over the next 30 years. We find that it will be -2.4 percent per year in 2012-2040, suggesting that aging will continue to have downward pressure on land prices over the next 30 years. In addition to population decline and aging problem, we will also face aging problem of housing stock, especially for condominiums
Environmental Policy in China and the Effect of the Direct Regulation
Get PDFAccording to current environmental policy theory, under perfect competition the firmʼs optimal level of emissions reduction is determined at the intersection of the marginal abatement cost (MAC) curve and the tax rate line. Behind these models, however, there are serious problems regarding market equilibrium theory and the definition of abatement cost.
This paper sheds light on these points, reexamines the concept of a firmʼs MAC, and proposes the newMAC. Using this newanalysis implement, it shows that the direct regulation is always not inefficient. We confirm that the environmental policy in China which used direct regulation and taxation based on this theoretical result can realize economic efficiency
What is Economism, and How Can We Overcome It?
Get PDFThis paper aims to outline economism, which is a framework underlining mainstream economistsʼ theories. Having ascertained that it prevents citizens from having an unfiltered look at economic realities, the author tries to show specific ways to overcome it. Research found that studying economics in its present form may actually make citizens more selfish. This selfish-actor presumption, which has become so pervasive, may blind citizens to the possibility that economic actors can behave in an other-regarding or even pro-social way, even in a market context, despite a general sense that every economic actor behaves selfishly in the market. We should be advised to overcome economism. Gaining an economism-free perspective would ensure a new approach to and understanding of economic realities. The author specifically attributes the main characteristics of economism to include the following four elements: first, a faith in an autonomous economic system; second, a selfish actor model of what is called homo economicus; third, a closed market system; and fourth, the absolute value of efficiency. The author suggests we adopt a new framework encompassing four alternative elements which accord to the four points above, all of which will be explored in the paper: first, the conception of embedded economy in society; second, the adoption of homo socio-economicus in place of homo economicus; third, the introduction of two unconventional market concepts, one is the hard market, the other, the soft market; and lastly, a focus on inefficiency
