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Institutional Change and Shifting Responsibility Perceptions : The Transition from Private Transactions to Auctions in the Japanese Thoroughbred Industry
No full text本研究は、日本の競走馬産業における庭先（相対）取引からオークション（せり）取引への移行を事例に、取引制度の切替が売り手・買い手の責任意識に与える影響を分析した。定性的データの分析から、オークション制度の普及は取引コストと権利の再配分を通じて「売り手責任」から「買い手責任」への心理的変容をもたらし、機会主義的行動を正当化する条件を形成していることを示す。本研究は、制度ロジックの移行を心理的プロセスとして捉え直す視点を提示する。This study examines how institutional change reshapes players’ responsibility perceptions by analyzing the shift from private negotiated transactions to auction-based transactions in the Japanese thoroughbred industry. Drawing on qualitative data from interviews, fieldwork, and archival sources, this study shows that the diffusion of auction markets redistributed transaction costs and decision rights between sellers and buyers. This redistribution fostered a psychological shift from caveat venditor to caveat emptor, thereby weakening feelings of guilt and legitimizing opportunistic behavior. The findings contribute to institutional change research by emphasizing the psychological and temporally embedded dimensions of institutional logics transitions
Corporate cash value and ESG management: Panel data analyses of stock indices across countries
No full text近年の米価格上昇とその需要システムの分析
No full text本稿は、2024 年夏以降の米価格急騰が家計に与えた影響を、スキャナーデータ （SRI+）と家計調査個票を用いて検証する。まず SRI+ から容量単価指数（UVPI） と時間ダミー・ヘドニック（TDH）指数を作成し、価格上昇が価格帯別に進行し分 布も変化すること、また指数の選択が上昇局面の評価を左右し得ることを示す。次に 家計調査に基づき AIDS/QUAIDS 需要体系を属性別に推計し、米の自己価格弾力 性が相対的に小さく、他主食への代替も限定的であることを確認する。さらに米価格 のみを高騰後水準に置き換える反実仮想により補償変分（CV）を推計し、負担が属 性によって分布し低所得層ほど相対的に大きい可能性を示す。日本学術振興会23H00799時点・地点間で財が異なる場合の集計方法・指数構築に関する考察本研究は、科学研究費 (23H00799, 24H00012,25K05044) の成果物である
»Partei der Menschheit« : Thomas Mann und Sein Brief an einen Jungen Japaner (2)
No full text日本学術振興会23K00419戦後ヨーロッパ秩序の構築とトーマス・マンの政治思想Die vorliegende Untersuchung entstand mit Unterstützung durch den JSPSForschungsfonds (JSPS KAKENHI Grant Number 23K00419)
Sources of Productivity Growth by Firm Size and Causes of the Negative Exit Effect
No full textThis study examines the dynamics of total factor productivity (TFP) by firm size to clarify the recent drivers of productivity growth in the Japanese economy, utilizing firm-level financial data from Teikoku Databank (TDB) spanning the years 1999 to 2020. In particular, we examine Japan’s distinctive “negative exit effect” by differentiating among various types of firm exit, including bankruptcy, closure, dissolution, and mergers. Our analysis shows that while within-firm productivity improvements at large firms played a dominant role in driving productivity growth through the 2000s, reallocation effects have become increasingly important since the 2010s. Notably, a substantial share of high-productivity firms exited the market through mergers, accounting for nearly half of the overall negative exit effect. Furthermore, while TFP among acquiring firms tends to stagnate in the short term after mergers, their labor productivity shows a significant and sustained increase, likely driven by capital deepening. These findings provide new insights into the shifting drivers of productivity growth in Japan—from within-firm productivity growth to market-driven resource reallocation—as well as into firm-size heterogeneity and the role of mergers in shaping productivity dynamics.（株）帝国データバンクThe research was supported by Grants-in- Aid for Scientific Research (KAKENHI) 23K25519 and 23K20603. The authors would like to express their sincere gratitude for this support
Why Are Japan’s Trade Unions Actually Growing? A Decomposition of Population Datasets
No full textThis study examines two decades of unionization trends in Japan, comparing administrative data from the Basic Survey on Labor Unions (OECD source) with three population-based surveys: the Survey on Work and Life of Workers (SWLW), Japan Household Panel Survey (JHPS), and Japanese General Social Survey (JGSS). While official statistics show declining union density (falling to 16.4% by 2022), survey data reveal consistently higher rates (23-30%) and upward trends. Using shift-share analyses and Blinder-Oaxaca decomposition across two periods (X and Y), we identify workplace union presence as the primary driver of membership growth, accounting for a quarter of the observed increase. We find rising unionization among traditionally underrepresented groups: part-timers show significant unexplained membership gains (0.25 percentage points), suggesting successful outreach beyond compositional changes. Small firms (<100 employees), despite low absolute unionization, contribute positively to presence expansion. In contrast, workers’ demographic characteristics (education, age) demonstrate negligible effects. The persistent discrepancy between administrative and survey data underscores the need to address data collection methodologies to better inform labour policy. Our findings indicate that Japanese unions are adapting to structural changes by expanding into small firms and non-standard employment, a development that is not captured by conventional metrics but crucial for understanding contemporary industrial relations in Japan.This research is funded by the Project Research Programs Institute of Economic Research,Hitotsubashi University (Grant ID: IERPK2307). JW is funded by UKRI (UHealth) and the Belgian National Scientific Fund MIS (2023) and CQ (2022) grants
Lost in Monetary Translation : Monetary Singleness and Relative Price Distortions
No full textThis paper studies how currency conversion can disrupt relative prices by impairing the unit-ofaccount function of money. We examine Okinawa’s 1972 conversion from the U.S. dollar to the Japanese yen, following the collapse of a previously shared unit-of-account triggered by the Nixon shock. Using wholesale price data for perishable goods, we showthat relative prices exhibited sharp changes despite flexible prices. By contrast, Okinawa’s 1958 currency conversion used a single, clearly announced rate and left relative prices stable. The comparison highlights the importance of institutional clarity for a shared unit of account and stable relative prices.Japan Society for the Promotion of Science17H02542Structural and equilibrium analysis of exchange rate fluctuations: a comprehensive approach from macro and micro dataJapan Society for the Promotion of Science23K25531通貨体制の経済効果：1972年沖縄本土復帰時のマイクロデータを用いた実証Financial support from the Japan Society for the Promotion of Science (Grant-in-Aid for Scientific Research Nos.17H02542 and 23K25531