Fumio Hayashi
Biographic Data
| ID | 1454326 |
|---|---|
| NAME | Fumio Hayashi |
| GIVEN NAMES | Fumio |
| FAMILY NAME | Hayashi |
| SIGNATURE | HAYASHI F |
| AFFILIATIONS | National Graduate Institute for Policy Studies |
| ORCID | 0000-0003-4435-8111 |
| VERIFIED | Yes |
| TOTAL WORKS | 8 |
| TOTAL CITATIONS | 126 |
| WORKS AS AUTHOR | 8 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 1982 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 4 |
Nowcasting Japan’s GDP
The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy
Why didn't the Japanese miracle take place before World War II? The culprit we identify is a barrier that kept prewar agricultural employment constant. Using a standard neoclassical two-sector growth model, we show that the barrier-induced sectoral distortion and an ensuring lack of capital accumulation account well for the depressed output level. Without the barrier, Japan's prewar GNP per worker would have been at least about a half of that of …
Understanding Saving
Parental Altruism and Inter Vivos Transfers
This paper uses Panel Study of Income Dynamics data on the extended family to test whether inter vivos transfers from parents to children are motivated by altruism. Specifically, the paper tests whether an increase by one dollar in the income of parents actively making transfers to a child coupled with a one-dollar reduction in that child's income results in a one-dollar increase in the parents' transfer to the child. The authors find that redist…
Is the Japanese Extended Family Altruistically Linked? A Test Based on Engel Curves
Altruism has the well-known neutrality implication that the family's demand for commodities is invariant to the division of resources within the family. The author tests this by estimating Engel curves on a cross section of Japanese extended families forming two-generation households. He finds that the pattern of food expenditure is significantly affected by the division of resources. The food components whose budget share increases with the olde…
[On the Estimation of Panel-Data Models with Serial Correlation When Instruments Are Not Strictly Exogenous]
Fumio Hayashi, [On the Estimation of Panel-Data Models with Serial Correlation When Instruments Are Not Strictly Exogenous]: Comment, Journal of Business & Economic Statistics, Vol. 10, No. 1 (Jan., 1992), pp. 15-17
Tobin's Marginal q and Average q
The Permanent Income Hypothesis
The permanent income hypothesis with rational expectation is restated, estimated, and tested by an instrumental variables technique on the postwar U.S. aggregate time-series data. The hypothesis is accepted on a consumption series which includes service flows from consumer durables. If the consumption series is the one in the National Income and Product Accounts, the hypothesis is decisively rejected. An explanation is suggested to reconcile the …
Parental Altruism and Inter Vivos Transfers
This paper uses Panel Study of Income Dynamics data on the extended family to test whether inter vivos transfers from parents to children are motivated by altruism. Specifically, the paper tests whether an increase by one dollar in the income of parents actively making transfers to a child coupled with a one-dollar reduction in that child's income results in a one-dollar increase in the parents' transfer to the child. The authors find that redist…
The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy
Why didn't the Japanese miracle take place before World War II? The culprit we identify is a barrier that kept prewar agricultural employment constant. Using a standard neoclassical two-sector growth model, we show that the barrier-induced sectoral distortion and an ensuring lack of capital accumulation account well for the depressed output level. Without the barrier, Japan's prewar GNP per worker would have been at least about a half of that of …
Is the Japanese Extended Family Altruistically Linked? A Test Based on Engel Curves
Altruism has the well-known neutrality implication that the family's demand for commodities is invariant to the division of resources within the family. The author tests this by estimating Engel curves on a cross section of Japanese extended families forming two-generation households. He finds that the pattern of food expenditure is significantly affected by the division of resources. The food components whose budget share increases with the olde…
The Permanent Income Hypothesis
The permanent income hypothesis with rational expectation is restated, estimated, and tested by an instrumental variables technique on the postwar U.S. aggregate time-series data. The hypothesis is accepted on a consumption series which includes service flows from consumer durables. If the consumption series is the one in the National Income and Product Accounts, the hypothesis is decisively rejected. An explanation is suggested to reconcile the …
Tobin's Marginal q and Average q
The Permanent Income Hypothesis
The permanent income hypothesis with rational expectation is restated, estimated, and tested by an instrumental variables technique on the postwar U.S. aggregate time-series data. The hypothesis is accepted on a consumption series which includes service flows from consumer durables. If the consumption series is the one in the National Income and Product Accounts, the hypothesis is decisively rejected. An explanation is suggested to reconcile the …
[On the Estimation of Panel-Data Models with Serial Correlation When Instruments Are Not Strictly Exogenous]
Fumio Hayashi, [On the Estimation of Panel-Data Models with Serial Correlation When Instruments Are Not Strictly Exogenous]: Comment, Journal of Business & Economic Statistics, Vol. 10, No. 1 (Jan., 1992), pp. 15-17
Is the Japanese Extended Family Altruistically Linked? A Test Based on Engel Curves
Altruism has the well-known neutrality implication that the family's demand for commodities is invariant to the division of resources within the family. The author tests this by estimating Engel curves on a cross section of Japanese extended families forming two-generation households. He finds that the pattern of food expenditure is significantly affected by the division of resources. The food components whose budget share increases with the olde…
Parental Altruism and Inter Vivos Transfers
This paper uses Panel Study of Income Dynamics data on the extended family to test whether inter vivos transfers from parents to children are motivated by altruism. Specifically, the paper tests whether an increase by one dollar in the income of parents actively making transfers to a child coupled with a one-dollar reduction in that child's income results in a one-dollar increase in the parents' transfer to the child. The authors find that redist…
Understanding Saving
The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy
Why didn't the Japanese miracle take place before World War II? The culprit we identify is a barrier that kept prewar agricultural employment constant. Using a standard neoclassical two-sector growth model, we show that the barrier-induced sectoral distortion and an ensuring lack of capital accumulation account well for the depressed output level. Without the barrier, Japan's prewar GNP per worker would have been at least about a half of that of …
Nowcasting Japan’s GDP
Economics (8 works) · Econometrics (5 works) · Mathematics (4 works) · Political science (3 works) · Altruism (biology (2 works) · Biology (2 works) · Estimation (2 works) · Financial Literacy, Pension, Retirement Analysis (2 works) · Gender, Labor, and Family Dynamics (2 works) · Geography (2 works)