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In this paper, we use an overlapping generations model to study the factors generating the saving rate in Japan between 1960–2000. The model economy allows for observed aging of the population, total factor productivity (TFP), and fiscal policy to affect the national saving rate. Our calibrated general equilibrium setup generates saving rates that are reasonably similar to the data during this period. Our counterfactual experiments indicate that observed TFP growth rates are the main reason for both the secular decline and the two humps in the saving rate during 1960–2000. [ABSTRACT FROM AUTHOR]

Osteoporosis remains undertreated in Japan, and bone fractures are the most frequent complications imposing heavy burden on individuals and the community. This paper investigates the clinical and economic burden of fractures among osteoporosis patients in Japan. The Japan National Health and Wellness Survey 2012-2014 database was used for analysis. Respondents aged ≥ 50 years and indicated a physician diagnosis of osteoporosis (N = 1107) were categorized into three subgroups: no prior fracture (N = 693), single fracture (N = 242), and multiple (≥ 2) fractures (N = 172). Health-related quality of life (HRQoL), work productivity and activity impairment, healthcare resource utilization and associated direct and indirect costs were compared across three fracture subgroups adjusting for respondents' sociodemographic and clinical characteristics using generalized linear regression models. The estimated fracture prevalence among respondents with osteoporosis who were ≥ 50 years was 37.4%, of whom 41.5% had multiple fractures. Relative to osteoporosis respondents with no fracture and with single fracture, those with multiple fractures reported significant higher disability in HRQoL, more healthcare resource utilization, and were associated with higher direct costs. Improved treatment of fractures among osteoporosis patients is necessary and may help reduce the clinical and economic burden in this osteoporosis population. [ABSTRACT FROM AUTHOR]

The positive relationship between trust and happiness has been demonstrated by the literature. However, it is not clear how much this relationship depends on environmental conditions. The Great East Japan Earthquake of 2011 is considered one of the most catastrophic events in human history. This disaster caused not only physical damage for Japanese people, but also perceived damage. Using individual-level panel data from Japan covering the period 2009-2012, this paper attempts to probe how the relationship between trust and happiness was influenced by the Great East Japan Earthquake by comparing the same individuals before and after the earthquake. A fixed-effects estimation showed that there is a statistically well-determined positive relationship between trust and happiness and this relationship was strengthened by disaster, especially for residents in the damaged area. We argue that social trust is a substitute for formal institutions and markets, which mitigates the effect of disaster-related shock on psychological conditions such as happiness. Therefore, a trustful society is invulnerable to a gigantic disaster. [ABSTRACT FROM AUTHOR]

This paper measures the impact of the entry of large supermarkets on incumbents of various sizes. Contrary to the conventional notion that big stores drive small rivals out of the market, data from Tokyo in the 1990s show that large supermarkets' entry induces the exit of existing large and medium-size competitors, but improves the survival rate of small supermarkets. These findings highlight the role of store size as an important dimension of product differentiation. Size-based entry regulations would appear to protect big incumbents, at the expense of small incumbents and potential entrants. [ABSTRACT FROM AUTHOR]

The global market for virtual items, characters and currencies was estimated to exceed 2.1 Billion USD in 2007. Selling virtual goods for real money is an increasingly common revenue model not only for online games and virtual worlds, but for social networking sites and other mainstream online services as well. What drives consumer spending on virtual items is an increasingly relevant question, but little research has been devoted to the topic so far. Previous literature suggests that demand for virtual items is based on the items’ ability to confer gameplay advantages on one hand, and on the items’ decorative value on the other hand. In this paper, I adopt a perspective from the sociology of consumption and analyse examples from 14 virtual asset platforms to suggest a more detailed set of item attributes that drive virtual item purchase decisions, consisting of functional, hedonic and social attributes. [ABSTRACT FROM AUTHOR]

This paper estimates the technical and allocative inefficiencies of the transmission-distribution sector of Japanese electric utilities using a panel data during the 1981–1998 period. A stochastic production frontier of the CES form is jointly estimated with input demand equations. Taking advantage of the self-duality, we retrieve the cost frontier by which the impacts of technical and allocative inefficiencies on costs and input demands are measured. The estimated elasticity of substitution is significantly different from unity in favor of the CES specification over the Cobb–Douglas. The results show that observed costs are 9 to 48% higher than the efficient level; technical inefficiency raises costs by 1 to 28%, while allocative inefficiency does so by 8 to 30%. Although their impacts on costs are similar, technical inefficiency more fluctuates so the differences in the performance of utilities are mainly due to technical inefficiency. We also find a substantial over-utilization of capital for all utilities. [ABSTRACT FROM AUTHOR]

This paper examines the role of misleading economic ideas that most likely promoted the economic disasters of the two deflationary periods in Japanese economic history. Misleading ideas deepened the depression during the interwar years, and erroneous thinking has prolonged the stagnation of the Japanese economy since the 1990s. While the current framework of political economy is based on the self-interest of political agents as well as of voters, we highlight the role of ideas in policy making, in particular, in the field of macroeconomy where the incidence of a particular policy is not clear to the public. Using two significant examples, this paper illustrates the role of preconceived ideas, in contrast to economic interests, as dominant forces influencing economic policy making. [ABSTRACT FROM AUTHOR]

Health care expenditure studies of the Organization for Economic Cooperation and Development (OECD) countries remain important because their findings often suggest cost containment and other policy initiatives. This paper focuses on the compatibility of OECD health data with the "expenditure inertia" (or lagged adjustments) hypothesis, by modeling individual country time-series data of 21 nations for the 1960-1993 period. Maximum likelihood estimates of the Box-Cox transformation regression models reveal that: (a) the hypothesized impact of health "expenditure inertia" is both pervasive and strong, averaging 0.64 across the countries; (b) the real GDP elasticities of health care expenditures vary widely among the countries and average 0.34 in the short run--implying that health care is a necessity; (c) the long run GDP elasticities are less than 1 in 8 countries, unitary elastic in 8 countries and elastic in 5 countries--suggesting that health care is not universally a necessity or a luxury commodity for the OECD countries; (d) physician-inducement effects (dis-inducement in a few countries) are weak, with a mean elasticity estimate of 0.17; and (e) no unique functional form approximation model is globally compatible with the data across the countries. Health care cost containment policy implications of these findings are explored. [ABSTRACT FROM AUTHOR]

This paper examines the effectiveness of voluntary environmental programs (VEP) adopted by the firms in improving their environmental performance in an emerging economy like India by using data from steel, cement and power sectors. Environmental performance of a firm is represented by its environmental efficiency estimated using directional distance function approach. We estimate a truncated regression model with bootstrapped standard errors to investigate the effectiveness of VEP. We find that there is no significant relationship between the adoption of multiple VEP and the environmental performance of a firm. The results concur with such studies conducted in developed economy like the US and Japan wherein the presence of the prescriptive norms deter the firm to take any additional initiative other than complying to the regulatory requirement. [ABSTRACT FROM AUTHOR]

A simple framework is developed for measuring input substitution and output expansion effects. These measures are nonparametric in the sense that specification and/or estimation of any parametric functions are not resquired. Monte Carlo experiments performed in the paper demonstrate the superiority of the proposed approach. An empirical application to Japanese manufacturing data yields results which satisfy a priori expectations. [ABSTRACT FROM AUTHOR]

This paper analyzes how a firm's management of greenhouse gas (GHG) emissions affects its economic performance. The theoretical model we derive from Cobb-Douglas production and inverse demand functions predict that in conducting GHG emissions management, a firm will enhance its economic performance because it promotes an increase in demand for its output and improves its productivity. The estimation results, using panel data on Japanese manufacturing firms during the period 2007-2008, support the view that a firm's GHG emissions management enhances a firm's economic performance through an increase in demand and improvement in productivity. However, the latter effect is conditional. Although a firm's efforts to maintain lower GHG emissions improves productivity, efforts to reduce GHG emissions further does not always improve it, especially for energy-intensive firms. Because firms attempting to maintain lower GHG emissions are more likely to improve their productivity, there is a possibility that firms with high GHG emissions can also enhance economic performance by reducing their emissions in the long term, even if additional costs are incurred. In addition, better GHG emissions management increases the demand of environmentally conscious customers because a product's life cycle GHG emissions in the upper stream of the supply chain influence those in the lower stream, and customers evaluate the suppliers' GHG emissions management in terms of green supply-chain management. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to examine theoretically and empirically whether the commute times of married women follow a backward-bending pattern with respect to wage rates. The existing literature has shown that married women tend to choose short commutes because of their relatively low wages combined with comparatively heavy household responsibilities. However, a work-leisure model, which includes the simultaneous decision wives take regarding commute times and wage rates, suggests that married women employed in highly paid positions also undertake short commutes, while married women with wage rates in the middle range choose long commutes. These results suggest that the commute times of married women display a backward-bending pattern. Applying an instrumental variable strategy that accounts for the endogeneity of wage rates, the empirical results for employed married women in Japan appear to support this finding. Moreover, one of our results suggests that highly paid married women can still secure greater leisure time with short commutes, despite retaining a heavy load of domestic responsibilities. [ABSTRACT FROM AUTHOR]

The adoption of domestic emissions trading schemes (ETS) can impose a heavy burden on energy-intensive industries. Particularly, energy-intensive industries competing with foreign competitors could lose their international edge. Although the abatement of CO emissions in industrialized countries entails the reduction of their energy-intensive production, a corresponding increase in the production of energy-intensive goods in countries without CO regulations may lead to carbon 'leakage.' This paper examines the effects of various allocation methods of emissions permits in the Japanese ETS on the economy and CO emissions using a multiregional and multisector computable general equilibrium model. Specifically, we apply the Fischer and Fox (Land Econ 83(4):575-599, ) model to the Japanese economy to address carbon leakage and competitiveness issues. We compare auction schemes, grandfathering schemes, and output-based allocation (OBA) schemes. We further extend the model by examining a combination of auctions and OBA. Though the auction scheme is found to be the best in terms of macroeconomic impacts, the leakage rate is high and the harm to energy-intensive sectors can be significant. OBA causes less leakage and damage to energy-intensive sectors, but the macroeconomic impact is undesirable. Considering all three effects-leakage, competitiveness, and macroeconomics-we find that combinations of auctions and OBA are desirable. [ABSTRACT FROM AUTHOR]

While globally successful Japanese industries were able to use their domestic market as a springboard into international markets, Japan's telecommunications sector became decoupled from global markets, trapping Japanese ICT firms in the domestic market. This persistent pattern of leading without followers was not simply the result of misguided technological choices, ill-informed corporate strategies, or insular government standard-setting processes. Rather, the dynamics of competition, shaped and reshaped by political dynamics and regulatory structures, decoupled it from global markets. These dynamics created a 'Galapagos effect', in which winning in an isolated domestic market led to losing in global markets. Major regulatory shifts transformed the dynamics of competition since the late 1990s, decreasing the isolation of Japan's telecommunications sector, but some factors pulling it along a proprietary trajectory persist. This paper highlights the dilemma of how to develop beyond a follower status, but avoid becoming a leader without followers. [ABSTRACT FROM AUTHOR]

This paper examines how the provision of venture capital to small- and medium-sized businesses (SMEs) is influenced by the ownership structure of the venture capital provider. We introduce a new and unique dataset from the Japanese venture capital market, comprising data on investment and venture capital activities of 127 Japanese venture capital funds. The data allow us to provide a direct comparison of the behaviour of individual owner-manager venture capitalists versus financial intermediation (e.g., bank’s venture capital divisions). The data indicate owner-manager venture capitalists (financial disintermediation) give rise to much smaller portfolios of SMEs and more advice to entrepreneurs. Across the scope of different financial intermediation structures, including banks, life insurance companies, securities firms, corporations and government bodies, there are further differences in the provision of governance and value-added advice provided to SMEs. Also, the data indicate US-affiliated funds in Japan are more likely to have smaller portfolios and tend to provide more advice to SMEs. [ABSTRACT FROM AUTHOR]

Previous studies on Japanese corporate governance were largely based on the agency theory framework, and can be seen as attempts to understand the unique monitoring mechanisms in the Japanese context. This paper briefly reviews prior research and then discusses the recent changes in the environment that have been affecting Japanese corporate governance. Our central argument is that there is both change and continuity in Japanese Corporate Governance. We also present emerging research from an institutional theory perspective. In this line of research, corporate governance is treated as part of a nation’s institutional framework and hence, researchers need to understand unique institutional arrangements that affect corporate governance practices and their change or continuity. [ABSTRACT FROM AUTHOR]

Many economists dismiss the role of positive supply shocks as a cause of Japan’s deflation. Indeed, they sometimes attribute the long delay in Japan’s recovery to the mistaken view that Japan’s deflation reflects an acceleration of technological progress. Whatever the current situation in Japan, however, economic history certainly suggests that technological progress can go hand in hand with general deflation. Conducting a VAR analysis using very detailed information about the components of Japan’s consumer price index, this paper finds that short-run shocks to Japan’s relative price structure persist in the long run. Given this finding, it is possible to conclude that such shocks are real in origin and reflect technological change. As no effort has yet been completed to show the full extent to which technological change is driving short-run relative price change in Japan compared with other factors, and the full extent to which relative price changes are driving aggregate price change compared with other factors, the policy implications of these findings are unclear. What is clear is that it is a mistake to dismiss out of hand the possibility that technological shocks are playing an important role among other forces in Japan’s current deflation. [ABSTRACT FROM AUTHOR]

This paper discusses the applicability of a multi-sector business cycle model to the Japanese economy. Through dynamic factor analysis, output fluctuations are broken down into aggregate and sectoral shocks. It is shown that independent sectoral shocks are more significant than common shocks, which is consistent with the model proposed by Long and Plosser (1983). In addition, the paper reveals that the importance of aggregate shocks increased during the so-called "Bubble" period in the late 1980s. [ABSTRACT FROM AUTHOR]

The advent of simultaneous global clinical trials and drug registration strategies has increased the demand for global pharmacoeconomic strategies. Outcomes researchers in pharmaceutical companies are faced with the challenge of assessing at a strategic level what pharmacoeconomic data are most useful in Japan and when, and then deciding at a tactical level what type of study designs are feasible. This paper is written mainly for the benefit of researchers working outside of Japan in the pharmaceutical/medical device industry or academia who are interested in conducting research in Japan. We reviewed the existing pharmacoeconomic literature in Japan, and found that the number of studies per year has been steadily increasing. The majority of studies have been cost-effectiveness and cost-consequence analyses. Typical data sources available in Japan are somewhat limited compared with other Western countries. However, charge data can be easily accessed through the national uniform reimbursement fee system and these data are particularly relevant for pharmaceutical pricing negotiations with the Ministry of Health, Labor and Welfare (MHLW). The present use of pharmacoeconomic data by pharmaceutical companies is mainly for pricing negotiations but recent reforms make certain types of data useful for marketing strategies too. The demand for pharmacoeconomic data may increase because of upcoming MHLW pharmaceutical pricing and/or recent health insurance system reforms. Economic evaluation of medical technologies in Japan, though lagging behind North America, Australia and Europe, has the potential to rapidly gather momentum as increasing cost-escalation worries contribute to a growing interest in pharmacoeconomic data. [ABSTRACT FROM AUTHOR]

The paper summarizes the problems that Japan faces during a period of falling and stagnant population and discusses their remedies. The problem of a stagnant population is well recognized and has been studied from a broad perspective by the Japanese government. This paper, however, defines the problem of action under three headings: (1) buying time; (2) building a new relationship between men and women; and (3) the political economy of a stagnant population. JEL Classification Numbers: B1, H4, J1, O15, O50. [ABSTRACT FROM AUTHOR]

Background: A common concern about universal health insurance coverage is how to control health expenditure. The escalation of health care costs raises public awareness of the optimization of drug price and increased demand for cost-effectiveness assessment. In this paper, we show the differences in patient access to new drugs and drug price among countries, in which the situation of introduction of cost-effectiveness assessment scheme is different. Methods: We investigated the health insurance coverage proportion of newly approved drugs in Japan, France, Germany, and the United Kingdom (UK). Then, we calculated the ratios of the European to the Japanese price for products that were reimbursed in both countries. Results: Japan had the highest health insurance coverage proportion (98.6%) in the 4 countries. In Japan, all the drugs that were approved in 2015 had been already listed in the latest formulary of February 2016. As for drug price, there wasn’t much difference between Japan and the European countries in many cases. Conclusion: From the viewpoint of the health insurance coverage proportion and the speed of reimbursement decision, the hurdle to access new drugs in Japan is lower than that in major European countries. While extensive coverage of health insurance and prompt reimbursement decision lower the hurdles to access new drugs and expand treatment options, they could lead to the increased medical expenditure. We should continue to discuss sustainable health insurance systems and drug price calculation schemes that properly reflect the drug’s clinical value while keeping the availability of new drugs to patients. [ABSTRACT FROM AUTHOR]

Background: In Japan, the reimbursement price of a newly approved drug is calculated according to the rule established by the government. As an incentive to innovative Research & Development, a new drug that meets certain criteria obtains premiums on its price. To quantify the clinical value of new drugs in pricing, a point-based system was proposed by an academic study group. This paper gives the background to and overview of the system, and reviews the drugs that gained the premiums after its introduction. Methods: For drugs to which premiums for innovativeness/usefulness were applied between April 2008 and August 2013, detailed information including the grounds for the premiums was identified. Then, subdivided factors for the requirement of the premium were set and points were allocated to them inductively depending on the degree of clinical impact. Finally, consistency between the rate actually applied and that calculated based on the system were reviewed for new drugs that gained the premiums after its introduction. Results: Forty-seven drugs gained the premium for usefulness between April 2008 and August 2013. Based on the grounds for the premium, a point-based system was established. After its introduction, 11 drugs gained premium for innovativeness/usefulness. The applied rates of premium were consistent with the calculated rate by the system in most cases. Conclusions: Predictability of future drug price is expected to be enhanced by the point-based system. As the control of health expenditure becomes strict, the importance of considering drug pricing policy that properly reflects the drug’s clinical value increases. [ABSTRACT FROM AUTHOR]

During the period of 2001-2006, the Liberal Democratic Party (LDP) adopted a market-oriented policy under the Koizumi cabinet. Using data covering the Koizumi and first Abe cabinets, the present paper attempts to examine whether the effects of relative income differ between supporters and non-supporters of the Koizumi cabinet. Key findings are as follows: within the Koizumi cabinet period, a relatively low-income position is negatively related to happiness for non-LDP supporters but not for LDP supporters. However, under the period of the first Abe cabinet, the difference in the effect of relative income for LDP supporters and others disappears. These results imply that an expectation of market outcomes leads to a difference in the effect of relative income position on happiness levels. [ABSTRACT FROM AUTHOR]

Although research on immigrants in the US provides strong evidence that human capital is more important than social capital in determining their wages, data from Hamamatsu, Japan indicates that social capital variables are the primary determinant of immigrant earnings and human capital does not have a significant effect. The divergent impact of these two variables on the earnings of immigrants are a result of the different economic and social conditions that immigrants encounter in Japan compared to the United States. In a recent country of immigration like Japan where immigrant labor markets are relatively undeveloped and foreign workers are confined to unskilled, marginal jobs, the human capital that they acquire over time is not reflected in better jobs with higher earnings. In contrast, immigrants with access to social capital in the form of immigrant networks, gender, and ethnicity are able to obtain jobs with higher wages in Japan. Because foreign workers are still temporary target earners, they therefore rely heavily on their immigrant social networks to find better-paying jobs. In addition, Japan is a country with significant gender and ethnic discrimination where employers strongly prefer male foreign workers and ethnically similar nikkeijin (Japanese descendants born and raised abroad) and are willing to pay them significantly higher wages. Therefore, depending on the local context of immigrant reception, the relative importance of human versus social capital in explaining economic outcomes among immigrants can vary considerably. [ABSTRACT FROM AUTHOR]

This paper examines the interdependent foreign market entry decisions of multinational corporations (MNCs). Based on the argument that legitimacy and competition are two important forces in foreign market entry decisions, we hypothesize that an MNCs market entry decisions are influenced by its own prior entry and prior exit decisions and those of other MNCs. We examine this general proposition at four levels of analysis: the host country, global industry (an industry that spans host countries), local industry (an industry that is separately defined within each host country), and parent firm level. Our analysis of a panel data of over 4000 market entry decisions that were made by Japanese MNCs shows that an MNCs market entry decision has a stronger inverted U-shaped relationship with the prior entry and exit decisions of other MNCs at the local industry level than the prior entry and exit decisions of other MNCs at the host country and global industry levels. We also find that both the prior entry and prior exit decisions of an MNC have a marginal influence on its own subsequent market entry decisions at the parent firm level. [ABSTRACT FROM AUTHOR]

This research examines the Phillips curve price adjustment mechanism allowing for the conditional variance of inflation to be time varying. Specifically, we estimate ARCH and GARCH models of inflation for Canada, Japan, and the U.K. The results suggest that an increase in the conditional variability of inflation leads to higher levels of inflation. In addition, inclusion of inflation variability in the Phillips curve model results in a higher weight being attributed to the output gap than in traditional models. (JEF E24) [ABSTRACT FROM AUTHOR]

The land price can be considered as the economic data which reflects the interactive activity of markets (land market). Since the cumulative distributions often exhibit power law behavior in a number of complex systems, we attempted to investigate the posted land prices available in Japan for the most recent six years of the recession period after the bubble economy. They also seem to be in this category within a certain range. We observe that the generalized exponential function with one parameter which has been frequently used in generalized thermostatistics serving to track the annual change of the distributions. [ABSTRACT FROM AUTHOR]

This paper uses Japanese panel data to examine empirically the effect of changes in labour market conditions and income in the timing of marriage, childbirth and employment. The main findings are that a high unemployment rate at the time of graduation tends to speed up the timing of marriage and childbirth, whereas an increase in the unemployment rate in the years after graduation delays the timing of marriage and childbirth. These results suggest that in Japan decisions are more likely to be based upon major changes such as those in employment opportunities than on fluctuations in the wage rate. JEL Classification Numbers: J1, J2. [ABSTRACT FROM AUTHOR]

In empirical studies of macroeconomic theories, close attention should be paid to the relationships between the deterministic trends of different variables, especially when economic relations are investigated in the context of economic growth. The paper explains in an expository manner what kind of research can be undertaken to examine the reality of macroeconomic theories in terms of deterministic trends. Japanese postwar quarterly data of money, price, income and Solow's residuals are analysed to study the reality of the neutrality hypothesis regarding money. JEL Classification Numbers: C32, N10. [ABSTRACT FROM AUTHOR]

Introduction: The Japanese government's current policy is to encourage hospitals to discharge hospital patients with schizophrenia earlier and provide them with community care. This study aims to analyze clinical and economic outcomes of different discharge strategies in psychiatric hospitals in Japan. Methods: A simulation was conducted to compare patient relapse and hospital revenues for different discharge plans. We constructed a decision tree where each tree consists of a different Markov chain that models hospital revenue for four different discharge plans: discharge of the patient after 1, 2, or 3 months, or 4 months or more. The simulation also included variations in the medical treatment regimen in an outpatient setting as part of the discharge strategy. In particular, we looked at the choice between risperidone long-acting injectable (RLAI) and generic risperidone (RIS GE). Results: The use of RLAI in an outpatient setting reduced the number of rehospitalizations compared to generic risperidone use under all discharge plans. Different discharge plans were associated with differences in economic outcomes as well. One of the key revenue drivers for the hospital was the continuation of treatment in the outpatient setting after discharge. Conclusion: The use of RLAI in an outpatient setting could help to prevent rehospitalization, thereby contributing to better community care. Funding: The Rapid Service Fee was funded by Janssen KK. [ABSTRACT FROM AUTHOR]

Singapore has witnessed rapid urban development in the last thirty years. Its landscape has changed from one of slums and squatters in the immediate post-war years to a city of gardens and high-rise high-density housing. The concept of a 'garden city' was introduced to guidethe development of a city-state with abundant greenery. In the process, many parks and gardens were created including park connectors which are green linkages between parks and other land uses. This paper presents the findings of an ongoing research into park connectors. It reports on that part of the survey results which examine the views ofresidents towards nature provision in park connectors and suggest some design options to enhance the planning of park connectors. [ABSTRACT FROM AUTHOR]

Fracture liaison services (FLS), implemented in different ways and countries, are reported to be a cost-effective or even a cost-saving secondary fracture prevention strategy. This presumed favorable cost-benefit relationship is encouraging and lends support to expanded implementation of FLS per International Osteoporosis Foundation Best Practice Standards. This study summarizes the economic impact and cost-effectiveness of FLS implemented to reduce subsequent fractures in individuals with osteoporosis. This systematic review identified studies reporting economic outcomes for FLS in osteoporotic patients aged 50 and older through a comprehensive search of MEDLINE, EMBASE, Cochrane Central, and PubMed of studies published January, 2000 to December, 2016. Grey literature (e.g., Google scholar, conference abstracts/posters) were also hand searched through February 2017. Two independent reviewers screened titles and abstracts and conducted full-text review on qualified articles. All disagreements were resolved by discussion between reviewers to reach consensus or by a third reviewer. In total, 23 qualified studies that evaluated the economic aspects of FLS were included: 16 cost-effectiveness studies, 2 cost-benefit analyses, and 5 studies of cost savings. Patient populations varied (prior fragility fracture, non-vertebral fracture, hip fracture, wrist fracture), and FLS strategies ranged from mail-based interventions to comprehensive nurse/physician-coordinated programs. Cost-effectiveness studies were conducted in Canada, Australia, USA, UK, Japan, Taiwan, and Sweden. FLS was cost-effective in comparisons with usual care or no treatment, regardless of the program intensity or the country in which the FLS was implemented (cost/QALY from $3023-$28,800 US dollars (USD) in Japan to $14,513-$112,877 USD in USA. Several studies documented cost savings. FLS, implemented in different ways and countries, are reported to be cost-effective or even cost-saving. This presumed favorable cost-benefit relationship is encouraging and lends support to expanded implementation of FLS per International Osteoporosis Foundation Best Practice Standards. [ABSTRACT FROM AUTHOR]

The Home Appliance Eco-Point System was a subsidy program implemented by the Japanese government from May 2009 to March 2011. The system has two features. First, the subsidy was provided in the form of eco-points that were only exchangeable for environmentally friendly goods. Second, it was a replacement subsidy program for durable goods with uncertain termination dates. We investigate the policy implications of these features. We show that if the eco-points are exchangeable for any goods (i.e., if a simple rebate program rather than an eco-point system is implemented), the same outcome can be achieved at a lower subsidy rate and thus using fewer financial resources. Regarding the eco-point system as a replacement subsidy, we show that the uncertain termination has the same effect as an increase in the subsidy: both accelerate the replacement. Uncertainty is a substitute for a subsidy, thus saving the financial resources of the government. However, there are two welfare concerns: (a) acceleration may not be desirable in terms of the environment, and (b) it costs households their expected utility. [ABSTRACT FROM AUTHOR]

Introduction: Most asthma patients have mild disease, although the burden of mild asthma is not well understood nor studied. Some evidence suggests that many patients with mild asthma experience suboptimal symptom control and exacerbations. This study characterizes the burden of illness and treatment patterns among patients with a confirmed diagnosis of mild asthma, defined as GINA Step 1 or Step 2, and residing in China, France, Germany, Italy, Japan, Spain, the United Kingdom, or the United States.Methods: The Respiratory Disease-Specific Programme prospective cross-sectional survey was conducted with primary care and specialty physicians in each of the eight countries. Physician and patient surveys assessed demographic and clinical characteristics, frequency and timing of asthma symptoms, exacerbations, and rescue inhaler usage, the most recent FEV1% predicted, and healthcare utilization. GINA Step was determined by prescribed treatment regimen. GINA Step 1 patients were prescribed as-needed reliever medication and Step 2 required treatment with a low-dose inhaled corticosteroid, leukotriene receptor antagonist, or theophylline. Treatment adherence was assessed with the Morisky Medication Adherence scale, disease control with the Asthma Control Test, and work and activity impairments with the Work Productivity and Activity Impairment scale.Results: The sample included 1115 GINA Step 1 and 2 patients, with 53% classified as Step 2. Overall asthma control was suboptimal, with reports of nocturnal symptoms (40.6%), symptom worsening (10.5%), and rescue inhaler usage in the last 4 weeks (33.6%). 25% of patients were uncontrolled. The overall mean number of exacerbations in the last 12 months was 0.4, with a higher frequency of exacerbations in Step 2 patients who also experienced more exacerbations requiring treatment intensification, an emergency department visit, or hospitalization.Conclusion: Mild asthma imposes a substantial burden on patients, establishing the need for comprehensive management plans and ongoing support for treatment adherence.Funding: AstraZeneca. [ABSTRACT FROM AUTHOR]

Industrial activities are linked through international supply chains, and the impacts that one country experiences can easily influence other countries. Climate change has made it essential for countries to review their supply chains and to prioritize introducing concrete adaptation actions. Therefore, this study aims to demonstrate a method of screening imported products that are highly vulnerable to the impacts of climate change by assessing all imported products in a consistent manner throughout the global supply chain to support a country's adaptation strategy planning. The study focuses on the potential impacts on land use and human health of climate change effects such as floods and heat waves. Japan was selected for a detailed analysis of its imports. A life-cycle assessment technique was applied to evaluate imported products through their supply chains. In Japan's case, land use results show that agricultural products imported from the United States of America (US) are highly vulnerable to climate change impacts. In relation to imported meat products, feed production processes are most vulnerable. The human health results show in addition to agricultural imports, electronics and textile imports are also vulnerable. The study recommends that the relevant stakeholders impacted by these products scrutinize their supply chains. Especially, Japan is recommended to collaborate with the US, China, and Southeast Asian countries for increasing resilience to climate change. The results include uncertainties due to limitations of data availability and methodology; however, this method is also applicable to assessing the global trade activities of any country and to supporting global adaptation strategies. [ABSTRACT FROM AUTHOR]

The article explains the essence of accounting for fear in assessing catastrophic events in terms of economic damage. Topics discussed include the 2012 Japanese government report on predicted damage of major earthquakes and tsunamis in the Nankai Trough (NT) area in Japan, the impact of the NT report towards land price function in Japan, and accuracy bias over land price data in the country.

Metal extraction and smelting cause considerable impacts on the environment. Consumption-based impact accounting highlights the responsibility of metal-consuming industries for the impacts and may drive a system-wide improvement in the structure of related supply chains. To drive the improvements, policies at national level coordinated for respective product types across the nations is needed. However, nationwide responsibility for specific use of metals is difficult to identify because metals are manufactured into composite products (e.g., vehicles) in a country that is in many cases, different from the country where mining is practiced. The final product environmental footprints would not reveal the location where the various impacts are caused. This study presents a method to support the policy coordination by identifying the magnitude of the responsibility of metal-consuming countries for environmental impacts occurred in mining countries so that the countries sharing large responsibilities can find partner countries to jointly work on reduction in environmental impacts effectively. An input-output-based material flow analysis model is used to track the flows of metals included in products made in Japan throughout the international supply chain. In 2005, Japanese industries collected steel alloying elements (manganese, chromium, nickel, molybdenum) embodying 3200 kt-COeq and distributed them as both intermediate and final products. For steel mill products, Asian countries were the main destination, while alloying elements contained in other products were relatively evenly exported to Asia, Europe, and North America. By consuming products made in Japan, South Korea, China, the USA, and Taiwan shared approximately 10% each in terms of share of responsibility for greenhouse gas emission embodied in alloying element collected by Japan. Japan shared 40% of the responsibility with domestic consumption of own products. These findings suggest that Japan, a collector and distributor of steel alloying elements, must work on its own resource use reduction policies coordinating with these countries to globally develop sustainable resource use system. [ABSTRACT FROM AUTHOR]

Purpose: Depression is a leading cause of disability worldwide. Research suggests that by far, the greatest contributor to the overall economic impact of depression is loss in productivity; however, there is very little research on the costs of depression outside of Western high-income countries. Thus, this study examines the impact of depression on workplace productivity across eight diverse countries.Methods: We estimated the extent and costs of depression-related absenteeism and presenteeism in the workplace across eight countries: Brazil, Canada, China, Japan, South Korea, Mexico, South Africa, and the USA. We also examined the individual, workplace, and societal factors associated with lower productivity.Results: To the best of our knowledge, this is the first study to examine the impact of depression on workplace productivity across a diverse set of countries, in terms of both culture and GDP. Mean annual per person costs for absenteeism were lowest in South Korea at $181 and highest in Japan ($2674). Mean presenteeism costs per person were highest in the USA ($5524) and Brazil ($5788). Costs associated with presenteeism tended to be 5-10 times higher than those associated with absenteeism.Conclusions: These findings suggest that the impact of depression in the workplace is considerable across all countries, both in absolute monetary terms and in relation to proportion of country GDP. Overall, depression is an issue deserving much greater attention, regardless of a country's economic development, national income or culture. [ABSTRACT FROM AUTHOR]

To explain why and how corporate environmental management is beneficial, it is important to provide incentives to private companies to encourage such environmental activities. This study proposes a new corporate financial and environmental dataset called the world resource table (WRT), which uses open data sources published by the Japanese government. Environmental data include Greenhouse gas emissions and toxic chemical release data. With more than 1000 annual samples, the WRT will allow empirical analyses that use productivity measures and econometric approaches. WRT will also include corporate patent data, with linkages to analytical software packages such as GAMS and R. [ABSTRACT FROM AUTHOR]

The main purpose of this study is to estimate the optimal city size which would attain maximum total surplus and sustainability, or a city size in which total benefits would equal total costs. We apply regressions to the total benefit function and the total cost function for 269 employment metropolitan areas for the year 2000 in Japan. Our study can be distinguished from others in that we include in total costs such social costs as environmental pollution. Our findings are that the optimal city size is 393-433 thousand persons. The sustainable limit for city size is 1,057-1,150 thousand. [ABSTRACT FROM AUTHOR]

Large, extensively diversified pyramidal business groups of listed firms dominate the histories of developed economies and the economies of developing economies. While such groups (called zaibatsu in Japan) are thought to have provided coordination for big push growth successfully in pre-second-world-war Japan after a state-run big push failed, it is still being debated whether such a pyramidal business group driven big push coordination exists in developing countries elsewhere in Asia. We hypothesize that pyramidal business groups can be private-sector mechanisms for coordinating big push growth, provided that first, competition between rival groups induces a sufficiently high level of coordination efficiency, and second, conditions exist for maintaining economic openness and basic infrastructure and legal institutions. Another condition that must be satisfied for a country to sustain economic growth after its big push phase is complete is a timely demise of business groups. Where these criteria are not met, growth stalls and the few pyramidal business groups become too powerful to dislodge. [ABSTRACT FROM AUTHOR]

Using Japanese panel data, we analyze precautionary savings due to staying single in the presence of income uncertainty. Our panel analysis finds that compared with young women who are likely to get married within 3 years, those who are not plan to have 44 percent more savings for precautionary purposes, and 108 percent more for retirement. These results suggest that in facing higher risk of income fluctuation due to choosing to marry late or remain unmarried, young women intend to have more wealth to mitigate the income risk inherent in single life. [ABSTRACT FROM AUTHOR]

This article explores various engagements of system theory with Germany and Japan, looking in particular at the theories of Talcott Parsons and Niklas Luhmann. Talcott Parsons based his sociological theory on the idea of a system of the values of a given society. Niklas Luhmann's extended version was based on the idea of self-reproduction (or 'autopoiesis') of social systems within all modernized societies. Two studies have recently re-examined system theory on basis of its engagement with Japan: Günther Distelrath has subjected Parsonian theory on Japanese modernity to a structural revisioning in Die japanische Produktionsweise (1996); and Peter Fuchs has reconciled what he calls the 'dividualism' of the Japanese psyche with the Luhmannian theory of functional differentiation in Kommunikation - Japanisch (1995). Distelrath critiques the Parsonian school of thought for giving Japan the status of a backward 'follower' of the West. Fuchs, in contrast, endorses the universalist premise of Luhmann's concept of society and makes Japanese 'dividualism' the paradigm of effective modernization. Following on from Fuchs, I argue that system theory has the potential to overcome cultural limitations and become a global sociology. Its theoretical agenda in the twenty-first century includes the refinement of its concepts of the psychical system, the revision of its notion of the public and the mass media, as well as a systematic contribution to environmental protection and ecological communication in a functionally differentiated world society. [ABSTRACT FROM AUTHOR]

Japan's economy depends on the importation of natural resources, and as a result, Japan is subjected to a high risk of biological invasion. Although Japan has quarantine systems to protect ecosystems, agriculture, forestry, fisheries, and human health against alien species, economic globalization has resulted in an ever-increasing risk of invasion. Mite invasion is no exception. Alien species that impact natural ecosystems are regulated in Japan by the Invasive Alien Species Act. However, the law focuses only on visibly recognizable species, so that species too small to see, such as viruses, bacteria, fungi, and mites, are beyond the scope of this law. The Plant Protection Law has limited the introduction of alien pests, including mites, that are harmful to agricultural crops. Recently, the liberalization of global trade policies have increased pressure to loosen regulations on various pests, including spider mites. Infectious diseases and their causative species are quarantined under the Rabies Prevention Law, the Domestic Animal Infectious Diseases Control Law, and the Human Infectious Diseases Control Law, but these laws do not cover wildlife diseases. The most serious problem is that wild reptiles, which can be carriers of ticks and tick-borne diseases, can be freely introduced to Japan. These loopholes in Japan's regulatory system have resulted in mite and tick invasions, which affect not only wildlife communities and human society but also endemism and biological diversity of natural mite populations. [ABSTRACT FROM AUTHOR]

The article discusses the results of the worldwide trends survey as of December 2010 in the Universal Service Funds (USFs) which indicates that the industrialized countries and the developing nations have been planning to offer a tax relief measures. Topics mention including the three main system which are used in calculating the amount of the reimbursement, introducing the telemedicine in U.S. and operating various forms of telemedicine such as the countries from the Africa and Asia.

Our study investigates the effect of Japanese horizontal keiretsu group membership on firm risk and return. Like prior studies, our results show that horizontal keiretsu membership has a negative effect on firm profitability. However, we find that horizontal keiretsu networks are likely to increase the gap between targeted and realized returns, which we call the outcome–aspiration gap. Moreover, in contrast to prior studies, our results indicate that keiretsu membership does not enable member firms to reduce risks by smoothing profitability. Instead, our findings provide evidence that is counter to the conventional notion that Japanese horizontal keiretsu allows their member firms to trade off profits for reduced risk. [ABSTRACT FROM AUTHOR]

The article discusses the study of the monetary policy and the case of foreign exchange intervention in Japan. It examines the principle behind the increase in the operations of Japanese foreign exchange market intervention. The study evaluates the effectiveness of limiting yen exchange rate appreciation and the influence in the direction of monetary policy. The Ministry of Finance influences the intervention policy, but the Bank of Japan determines whether to offset the liquidity effect.

Background: Incorporating mediastinoscopy (MS) into the PET-based strategy for non-small cell lung carcinoma (NSCLC) patients might be cost-effective because MS can allow unnecessary thoracotomies to be avoided. The objective of our study was to assess the cost-effectiveness of incorporating MS into a PET strategy for NSCLC patients.Methods: To determine life expectancy (LE), quality adjusted life years (QALY), and the incremental cost-effectiveness ratio (ICER), a decision-tree sensitivity analysis was designed for histopathologically confirmed NSCLC patients with M0 disease, based on the three competing strategies of chest CT only vs. PET + CT vs. PET + CT + MS. A simulation of 1000 NSCLC patients was created using baselines of other relevant variables in regard to sensitivity, specificity, mortality, LE, utilities and cost from published data. One-way sensitivity analyses were performed to determine the influences of mediastinal metastasis prevalence on LE, QALY and ICER.Results: The LE and QALY per patient in the CT only strategy, PET + CT strategy and PET + CT + MS strategy were 4.79 and 4.35, 5.33 and 4.93 and 5.68 and 5.33 years, respectively, with a 20% prevalence of mediastinal metastasis. The ICERs were 906.6 yen x 10(3) (7555 US dollars)/QALY/patient at a 20% mediastinal metastasis prevalence, and 2194 yen x 10(3) (18,282 US dollars)/QALY/patient at a 50% prevalence, but exceeded 5280 yen x 10(3) (44,000 US dollars)/QALY/ patient at 80%.Conclusions: Our study quantitatively showed the CT + PET + MS strategy in place of the PET + CT strategy in managing NSCLC patients to be cost-effective. MS should be incorporated into the PET + CT strategy for NSCLC patients except in those highly suspected of having mediastinal disease on chest CT or PET. [ABSTRACT FROM AUTHOR]

This research examines the linkages among three Greater China Economic Area (GCEA) stock markets, including Mainland China, Hong Kong, and Taiwan, and two developed markets, Japan and the United States. We find that: (1) a random walk model is outpredicted by an autoregressive GARCH model and an ARIMA model in all three GCEA markets; (2) the three GCEA markets are not cointegrated with either U.S. or Japan but there exists weak nonlinear relationships between these markets; and (3) result from the innovation accounting analysis reveals that the U.S. market has larger influence on the GCEA markets than the Japanese market. Additionally, Hong Kong is the most influential among the three GCEA markets. [ABSTRACT FROM AUTHOR]

Recoveries after recent earthquakes in the U.S. and Japan have shown that large welfare gains can be achieved by reshaping current emergency plans as incentive-compatible contracts. We apply tools from the mechanisms design literature to show ways to integrate economic incentives into the management of natural disasters and discuss issues related to the application to seismic event recovery. The focus is on restoring lifeline services such as the water, gas, transportation, and electric power networks. We put forward decisional procedures that an uninformed planner could employ to set repair priorities and help to coordinate lifeline firms in the post-earthquake reconstruction. [ABSTRACT FROM AUTHOR]