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Reluctance to Lend and Its Spatial Differences in Japan's Lost Decade : What Can We Learn from It?
Get PDF* Revised: Credit Crunch: A Lesson from the Japanese Case [08-33, 2008]This paper aims to elucidate whether supply side factors played a crucial role in causing the“reluctance to lend" in Japan in the 1990s. We estimate loan supply and demand functions usingprefectural panel data and calculate their shifts. Our analysis reveals that the demand sideplayed an equal or greater role, even in the context of the historical financial crisis in Japanduring the period 1997–2000, and that the reluctance to lend was severer in the urbanprefectures. These findings suggest that countermeasures in the banking sector that uniformlyinfluence all regions may not achieve the expected recovery
A Coordination Game Model of Charitable Giving and Seed Money Effect
Get PDFISER discussion paperApril 2009, Revised September 2009, Secondly Revised May 2011If potential donors for a charity project possess the warm-glow properties in their preferences, we can represent their behavior with a coordination game. Accordingly, we construct a simultaneous incomplete information game model of charitable giving based on a simple global coordination game. We demonstrate that merely by the effect of seed money to shift the threshold requirement of the donations for project success downwards, the proportion of donors and the total amount of donations strictly and continuously increase with the amount of seed money. This result is partially compatible with the field experimental evidence in List and Lucking-Reiley [List, J. A., Lucking-Reiley, D., 2002. The Effects of Seed Money and Refunds on Charitable Giving: Experimental Evidence from a University Capital Campaign. Journal of Political Economy 110 (1), 215-233]
