Economic Analysis Series No.179
THE ECONOMIC ANALYSIS

August, 2007
"Foreign-Owned Establishments in Japan: An Empirical Analysis of Firm Exit and Employment Growth Based on the Establishment and Enterprise Census"
Hyeog Ug Kwon
Keiko Ito
Kyoji Fukao
"Effective Corporate Reforms with Information Technology: Logit Model Analysis on Business Process Reengineering, Business Unit Restructuring, and Human Resource Management"
Akihiko Shinozaki
"A Short-Run Macroeconometric Model and Chain-type GDP-Introduction and Assessment"
Keiko Murata
Koichiro Iwamoto
Katsuhiko Masubuchi
"On The Oil Price-GDP Relationship"
Akira Maeda
"Happiness Research: A Review -from a viewpoint of low fertility in Japan"
Ken Shiraishi
Sayuri Shiraishi

The full text is written in Japanese.

(Abstract)

"Foreign-Owned Establishments in Japan: An Empirical Analysis of Firm Exit and Employment Growth Based on the Establishment and Enterprise Census"

Using micro-data of the Establishment and Enterprise Census, we compiled new statistics on the employment of Japanese affiliates of foreign firms at the 3-digit industry level and explored the determinants of exit and employment growth for establishments in Japan. For the period from 1996 to 2001, we found that the number of workers employed by domestically-owned establishments decreased, while the number of workers employed by establishments majority-owned by foreigners increased.

Furthermore, we found that the probability of exit was significantly higher for foreign-owned establishments, whereas successful foreign-owned establishments grew more rapidly.

"Effective Corporate Reforms with Information Technology: Logit Model Analysis on Business Process Reengineering, Business Unit Restructuring, and Human Resource Management"

The purpose of this empirical study is to examine the significant relations between corporate reforms and gains from investment in information technology. Based on the nation-wide survey data from 3141 firms, logit model analysis revealed that Japanese firms have a tendency to gain some from sustainable corporate reforms rather than to gain the most from drastic reforms in accordance with investment in information technology. This tendency implies that the inertia of Japanese corporate system that had formed in the industrial age persists even in the information age.

"A Short-Run Macroeconometric Model and Chain-type GDP-Introduction and Assessment"

This paper describes the introduction of chain-type GDP deflator to the 2005 revised version of the ESRI Short-Run Macroeconometric Model of the Japanese Economy and the assessment for that influence on simulated multipliers. According to our findings, the differences between chain-type and traditional fixed-weighted indexes do not make a major impact on a macroeconometric simulation, as far as a short-term simulation based on stable economic situations.

"On The Oil Price-GDP Relationship"

This paper analyzes the macroeconomic impact of high oil prices on national economies.
Using an analytical model, we show that oil price-real GDP elasticity can be estimated roughly from current oil prices, GDP, and oil imports and exports. In contrast to large-scale modeling, our approach is based on simple algebra and clear assumptions, and thus provides policy makers with a more transparent view of the vulnerability of economies to oil price increases in terms of GDP.

"Happiness Research: A Review -from a viewpoint of low fertility in Japan"

At the beginning of our research, "Happiness in Having Children", we summarize precedent researches on happiness to answer to question, "What is Happiness?" We first compose happiness concept, and survey precedent researches on the factors which affect a feeling of happiness.

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