Yoko Konishi

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Despite the obstacles caused by the data constraints and diversity of industrial structure, analysis of the service sector is growing in importance. Focusing on one service industry in particular—freight transportation—a research team led by Senior Fellow Yoko Konishi set about analyzing the time cost as well as the monetary cost—cost of gasoline,(More)
Headquarters play an important role in modern companies, but the downsizing of headquarters is often advocated as a way to improve organizational efficiency. The size of headquarters is closely related to the centralization/decentralization of decision making, and a theoretically optimal level of (de)centralization depends on various conditions. Using a(More)
Extending the endogenous growth model proposed by Young (1998), we construct a two-sector growth model that explains the observed pattern of structural change. Unlike existing studies, we assume neither non-homothetic preferences nor exogenous differential in productivity growth among different sectors. Our key assumption is that any two goods produced by(More)
This study is an empirical attempt to investigate whether firms' bond issues mitigate rent extraction by their banks. To that end, I focus on the cash holdings of Japanese listed firms in the early 1980s, when Japanese banks used compensation balances as a device to extract rent from their client firms. Concretely, this study examines whether firms' bond(More)
Typical analyses of industrial agglomerations start with some aggregate measure of the " agglomeration degree " for each industry, and attempt to explain differences in these values across industries by regressing them on sets of industrial attributes. But this aggregation makes it difficult to capture the spatial aspects of individual agglomerations. In(More)
We report here two cases of vitiligo vulgaris successfully treated with the combination therapy of topical steroid and vitamin D3 compound and currently maintained by vitamin D3 analog without any adverse effects: skin atrophy, striae or telangiectasia on the exposed areas. The best-known mechanism of topical vitamin D3 analog is the enhancement of(More)
This paper analyzes the relationship between the use of stock options and productivity by employing firm-level panel data from the Basic Survey of Japanese Business Structure and Activities. According to the analysis, the use of stock options has a positive impact on firm productivity. Productivity steadily increases after the adoption of stock options. In(More)
We present an alternative explanation of the positive relationship between total fertility rate (TFR) and female labor participation rate (FLPR) observed in recent cross section of OECD countries. We first use a simple model of consumer behavior where consumption good is indexed by quality, both consumption and child rearing require time and a physical good(More)
We present an alternative explanation of the positive relationship between total fertility rate (TFR) and female labor participation rate (FLPR) observed in recent cross section of OECD countries. We first use a general equilibrium model with vertical quality differentiation and heterogeneous labor and show how low fertility is associated with consumption(More)