News 2023
- December 5, 2023
- "On the Stability of Preferences: Experimental Evidence from Two Disasters" by Professor Yasuyuki Sawada (coauthored with Yusuke Kuroishi) has been published in European Economic Review
This paper investigates the impacts of two disasters in Japan and the Philippines on preferences using the convex time budget experiments and multiple price list experiments with monetary rewards. By exploiting natural experiments which are combined with lab-in-the-field experiments, the study aims to investigate whether and how long preferences are affected by extreme events. The authors find evidence supporting preference instability caused by exposure to natural hazards: in both our study sites, disaster exposure seems to make individuals more present-biased even though they differ in socioeconomic conditions and disaster types. The estimated impacts are persistent over the short and long time intervals in both disaster-affected areas and are robust to the method of measuring preferences. - December 4, 2023
- Article by Professor Shintaro Yamaguchi in Nikkei Newspaper (article in Japanese)
- Novebmer 28, 2023
- "The Effect of Bank Recapitalization Policy on Credit Allocation, Investment, and Productivity: Evidence from a Banking Crisis in Japan" by Professor Yasuyuki Sawada (coauthored with Hiroyuki Kasahara and Michio Suzuki) has been published in Journal of Banking & Finance.
The paper investigates the impact of government capital injections during the 1997 Japanese banking crisis using firm-level data. Findings indicate that post-injection banks increased lending to both high-productivity non-zombie and low-productivity zombie firms. While the former aligns with conventional theories, the latter suggests credit misallocation toward struggling firms mainly for debt servicing. High-productivity firms show positive labor and total factor productivity growth, potentially driven by sales growth and increased advertising expenses. - November 16, 2023
- Article by Professor Toshiaki Iizuka in Nikkei Newspaper (article in Japanese)
- November 14, 2023
- Article by Professor Noriyuki Yanagawa in Nikkei Newspaper (article in Japanese)
- November 3, 2023
- Article by Professor Yasutora Watanabe in Nikkei Newspaper (article in Japanese)
- October 26, 2023
- Article by Professor Sagiri Kitao in Nikkei Newspaper (article in Japanese)
- October 25, 2023
- Article by Professor Kennichi Ueda in Nikkei Newspaper (article in Japanese)
- October 23, 2023
- Article by Professor Shintaro Yamaguchi in Nikkei Newspaper (article in Japanese)
- October 16, 2023
- "Asymmetric Demand Response When
Prices Increase and Decrease: The Case of Child Health Care" by Professor Hitoshi Shigeoka (coauthored with Toshiaki Iizuka) has been published in The Review of Economics and Statistics
- October 6, 2023
- Dr. Debarati Guha-Sapir awarded the 2023 (32nd) Blue Planet Prize
Dr. Debarati Guha-Sapir, Professor at Université Catholique de Louvain and Founder Director of the Center for Research on the Epidemiology of Disasters (CRED) has received the 2023 (32nd) Blue Planet Prize and spoke at the University of Tokyo.
Dr. Sapir is renowned for her pioneering work in developing the Emergency Events Database (EM-DAT), a critical global data infrastructure tracking catastrophic events such as storms, earthquakes, and pandemics. Over the past three decades, her contributions to EM-DAT have proven indispensable for Evidence-Based Policy Making (EBPM) in the realms of climate change and disaster prevention and mitigation. Her database is extensively utilized by governments, including Japan, international organizations, and research institutions. One of the major research results edited by Prof. Sapir is The Economic Impacts of Natural Disasters, published in 2013, to which CREPE Director Yasuyuki Sawada contributed. - October 5, 2023
- Dr. Jiro Yoshida (CREPE Guest Associate Professor and Pennsylvania State University Professor) discussed the US housing affordability crisis and Japanese land-use regulations in a Business Insider article, "The sure-fire way to save America’s cities? Do what Tokyo does"
- October 3, 2023
- Article by Professor Yu Uchiyama (coauthored with Professor Yukiko Fujita) in Nikkei Newspapter
- September 29, 2023
- Article by Professor Jiro Yoshida(CREPE Guest Associate Professor, The Pennsylvania State University)in Nikkei Newspaper (Article in Japanese)
- September 29, 2023
- "Temporal Instability of Risk Preference among the Poor: Evidence from Payday Cycles" by Professor Hitoshi Shigeoka (coauthored with Mika Akesaka, Peter Eibich, and Chie Hanaoka) has been published in American Economic Journal: Applied Economics
- September 26, 2023
- Professor Kojima's interview article in Nikkei Newspaper
- September 25, 2023
- Article in Nikkei Newpaper by Professor Shintaro Yamaguchi (Article in Japanese)
- September 15, 2023
- Article in Nikkei Newpaper by Professor Ayako Kondo (Article in Japanese)
- September 14, 2023
- "Amazon is Coming to Town: Private Information and Housing Market Efficiency" by Professor Jiro Yoshida (CREPE Guest Professor) was published in Real Estate Economics (coauthored with Y. Chen and S. Wilkoff).
Is the housing market always slow to respond to information about demand shocks? Using Amazon’s gradual revelation of its new headquarters locations in Virginia and New York, @Yifan Chen, @Sean Wilkoff, and @JiroYoshida7 find housing prices near the headquarters exhibit a premium months before the decision, thereby demonstrating that the housing market can incorporate information quickly. - September 13, 2023
- Recruiting information for CREPE project assistant professor (information in Japanese)
- September 8, 2023
- "Reducing single-use cutlery with green nudges: Evidence from China’s food-delivery industry" by Professor Yasuyuki Sawada (coauthored by Guojun He, Yuhang Pan, Albert Park, and Elaine S. Tan)has been published in Science.
- August 30, 2023
- The website of the Chair of Social Common Capital has been launched.
- August 29, 2023
- Article by Professor Noriyuki Yanagawa in Nikkei Newspaper (article in Japanese)
- August 17, 2023
- Article by Professor Tetsuji Okazaki in Nikkei Newspaper (article in Japanese)
- August 11, 2023
- Article by Professor Yasutora Watanabe in Nikkei Newspaper (article in Japanese)
- July 28, 2023
- Professor Takeo Hoshi's interview article (article in Japanese)
- July 17, 2023
- Article by Professor Shintaro Yamaguchi in Nikkei Newspaper (article in Japaense)
- June 21, 2023
- CREPE Guest Associate Professor Jiro Yoshida (The Pennsylvania State University) discussed global inflation and the central banks' dilemma on BBC Business Matters.
- May 29, 2023
- BBC’s The Inquiry released the new edition about why there are millions of empty houses in Japan. Professor Jiro Yoshida (Guest Associate Professor) participated in Part 4 starting at 16:30, discussing global vacancy situations, affordability issues, property and inheritance taxes, aging society, work from home, building code and the construction industry, and more.
- May 18, 2023
- Professor Jiro Yoshida (Guest Associate Professor) spoke about the recent stock market rally in Japan on BBC Newsday.
- May 18, 2023
- Article by Professor Yasutora Watanabe in Nikkei Newspaper (article in Japanese)
- May 8, 2023
- Article by Professor Shintaro Yamaguchi in Nikkei Newspaper (article in Japanese)
- May 6, 2023
- ACY inflation Index by Professor Jiro Yoshida (CREPE Guest Professor) is mentioned in a Forbes article, "The Seeds Of Deflation – Sewn By The Fed."
- March 23, 2023
- Article by Professor Hitoshi Shigeoka in Nikkei Newpaper (article in Japanese)
- March 22, 2023
- Article by Professor Shintaro Yamaguchi in Nikkei Newspaper (article in Japanese)
- March 20, 2023
- Article by Professor Noriyuki Yanagawa in Nikkei Newspaper (article in Japanese)
- March 6, 2023
- Article by Professor Shintaro Yamaguchi in Nikkei Newspaper (article in Japanese)
- March 2, 2023
- "Temporal Instability of Risk Preference among the Poor: Evidence from Payday Cycle" by Professor Hitoshi Shigeoka (coauthored with Mika Akesaka, Peter Eibich, and Chie Hanaoka) has been accepted by American Economic Journal: Applied Economics
- March 1, 2023
- Article by Professor Tsutomu Watanabe in Nikkei Newspaper (article in Japanese)
- February 27, 2023
- "Heterogenous effects of the Great East Japan earthquake on prosociality of people depending on their ages" by Professor Yasuyuki Sawada(coauthored with Toyo Ashida and Keiko Iwasaki)has been published online in Scientific Reports
- February 24, 2023
- Article by Professor Yasutora Watanabe in Nikkei Newspaper (article in Japanese)
- February 22, 2023
- Article by Professor Daiji Kawaguchi in Nikkei Newspaper (article in Japanese)
- February 17, 2023
- Article by Professor Tetsuji Okazaki in Nikkei Newspaper (article in Japanese)
- January 23, 2023
- Article by Professor Shintaro Yamaguchi in Nikkei Newspaper (article in Japanese)
- Januyar 10, 2023
- Professor Yasutora Watanabe awarded Ishikawa Prize
- January 6, 2023
- Article by Professor Takeo Hoshi in Nikkei Newspaper (article in Japanese)
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