Takao Kato

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Racial diversity in the United States continues to rise. Past analyses have argued that diversity can have both positive and negative consequences. The overall macroeconomic effects of diversity within the US require further examination. This paper exploits variation across US regions from 1980-2000 to determine whether racial heterogeneity creates gains or(More)
This paper employs industry-level U.S. Census data from 1980-2000 to assess the aggregate effects of racial diversity. While most international accounts find that diversity reduces productivity, I argue that the U.S. experience is more nuanced. Unqualified statements about the costs and merits of diversity are unwarranted, as racial hetero-geneity increases(More)
We study the impact of nationalism and interstate frictions on international economic relations by analyzing market reaction to adverse shocks to Sino-Japanese relations in 2005 and 2010. Japanese companies with high China exposure suffer relative declines during each event window; a symmetric effect is observed for Chinese companies with high Japanese(More)
  • Saioa Arando, Monica Gago, Derek C Jones, Takao Kato
  • 2011
We provide the first econometric study of efficiency for a member of the Mondragon group of worker cooperatives. Eroski is a retail distribution chain and, most unusually, there are two distinct types of hypermarkets namely cooperatives, with significant employee ownership and GESPAs which have modest employee ownership. For supermarkets the chain includes(More)
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