Economic Theory, Dynamics and Markets: Essays in Honor of Ryuzo Sato

Front Matter....Pages i-xix
One Way to Measure How Much Second Best “Second Best” is....Pages 1-17
The Marshallian Macroeconomic Model....Pages 19-29
Production Theory as a Part of a Dynamic General Disequilibrium System....Pages 31-44
Kinds of Theory....Pages 45-55
Maximality, Optimality, and Duality: A Synthesis of Some Recent Results....Pages 57-72
Fiml Estimation of Sample Selection Models for Count Data....Pages 73-91
Long-Run Rigidity in Labor Markets....Pages 93-103
Incomplete Contracts in Public Procurement....Pages 105-119
Non-Stationary Intergenerational Altruism....Pages 121-131
The Speed of Adjustment....Pages 133-142
Interactions in the Growth of Science and the Economy....Pages 143-151
Conservation Laws and Optimal Paths in External Two Sector Growth Model....Pages 153-165
Nonlinearity, Chaos, and Bifurcation: A Competition and an Experiment....Pages 167-187
Capital Depreciation, Indeterminacy and Cycles in Two-Sector Economies....Pages 189-197
Environmental Externalities, Abatement Behavior and Pigovian Taxes....Pages 199-207
Optimal Defense Spending....Pages 209-219
The Dynamic Gains from Trade Liberalization with Product Variety: Summary of Results....Pages 221-231
Monetary Expansion and Converging Speed in a Growing Economy....Pages 233-242
Analytical Afterthoughts on the Asian Crisis....Pages 243-255
The Impact of Mergers on U.S. Bank Performance....Pages 257-274
A Simple Model of Foreign Exchange Exposure....Pages 275-286
The International Linkage of Interest Rate Swap Spreads: The Yen-Dollar Markets....Pages 287-308
Inflation, Financial Development and Growth....Pages 309-324
Stochastic Inter-Temporal Optimization in Discrete Time....Pages 325-339
Fluctuation of Exchange Rates, Foreign Direct Investment, and Hollowing Phenomenon....Pages 341-355
Alfred Marshall in Hitotsubashi....Pages 357-367
Endogenous Technology Transfer: What is the Right Price?....Pages 369-378
Investment for Survival....Pages 379-389
Characterizing an Area Condition Associated with Minimizing Systems....Pages 391-403
Access Pricing in Regulated Industries....Pages 405-416
Equilibrium Locations: Product Cost Differentials and the Market Size....Pages 417-427
Indeterminate Output Allocations....Pages 429-437
Divisional Rivalry and First-Mover Disadvantages....Pages 439-452
Symmetry and the Theory of the Firm....Pages 453-464
Reflections on Japanese Political Economy....Pages 465-471
“Reversed Investment Cycles” Between Japan and United States in the Half Century....Pages 473-481
The Rising Sun and the Stumbling Bear: The Mortality Consequences of Economic Well-Being....Pages 483-493
Financial Systems and Economic Modernization: A New Historical Perspective?....Pages 495-504
The Young Professor....Pages 505-512
Japanese Economics: An Appraisal....Pages 513-523
Rethinking Development in an Interdependent World....Pages 525-542
Unfinished Business: Symmetry and Moral Behavior....Pages 543-549
Felicitation of Professor Sato at the Berkshires Conference, September 9, 2000....Pages 551-560
Professor Sato’s Curriculum Vitae....Pages 561-573