研究者業績
基本情報
- 所属
- 武蔵野大学 名誉教授・客員教授慶應義塾大学 名誉教授
- 学位
- 博士（経済学）(慶應義塾大学)修士（経済学）(慶應義塾大学)修士（理学）(マサチューセッツ工科大学)
- 研究者番号
- 60120490
- J-GLOBAL ID
- 200901009618484780
- researchmap会員ID
- 1000263937
- 外部リンク
経歴
10-
2023年4月 - 現在
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2013年4月 - 現在
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2014年4月 - 2023年3月
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2013年4月 - 2014年3月
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1998年4月 - 2013年3月
学歴
5-
- 1990年1月
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- 1974年
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- 1972年
委員歴
31-
2023年4月 - 現在
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2019年4月 - 現在
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2018年6月 - 現在
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2017年4月 - 現在
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2015年1月 - 現在
受賞
9論文
21-
International Journal of Economic Policy Studies 14(1) 123-166 2020年2月 査読有り
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JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS 52(4) 480-511 2016年5月 査読有りThis study analyzes the rent term premium for leases that can be cancelled by the lessee. We model the lessor's trade-off between leasing costs and the cost of cancellation options based on the recognition that many leases are cancellable by lessees, and lease markets involve significant transaction costs. We demonstrate that, regardless of the expected future rents, the rent term structure is upward-sloping when there is no leasing cost but U-shaped when the lessor faces moderate leasing costs. Residential leases in Japan, which are all cancellable by tenants, exhibit the term structure that is consistent with our calibrated model.
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Earthquake Risk in Japan: Consumers' Risk Mitigation Responses After the Great East Japan EarthquakeJOURNAL OF ECONOMIC ISSUES 46(2) 519-530 2012年6月 査読有りThe destructive impact of the Great East Japan Earthquake and subsequent tsunami on March 11, 2011 has enhanced consumer's earthquake preparedness even in unaffected areas. This paper uses unique survey data collected after the earthquake to study how consumers reacted to this catastrophic event. We find that self-reported, perceived preparedness for natural disasters has significantly improved even among low-income households after March 11, but that post-quake intentions for more specific risk mitigation activities were systematically associated with household income and wealth levels. Our results indicate that the recent events might have widened the gap in disaster preparedness between rich and poor.
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JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS 45(1) 63-87 2012年6月 査読有りThis paper draws on six waves of Japanese household longitudinal data (Keio Household Panel Survey, KHPS) and estimates a conditional fixed effects logit model to investigate the effects of housing equity constraints and income shocks on own-to-own residential moves in Japan. By looking at contemporaneous extended Loan-to-Value (ELTV) and extended Debt-to-Income (EDTI) ratios under the recourse loan system, we examine whether housing equity constraints and negative income shocks have any impact on own-to-own residential moves. Taking account of the specific nature of the recourse loan system in Japan, we further investigate whether these effects are different between positive and negative equity households. The estimation results show that housing equity constraints and negative income shocks significantly deter own-to-own residential moves for positive equity households.
MISC
70-
The Discussion Paper of the Institute of Social and Economic Research of Osaka University (No.400) 27 1996年
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The Discussion Paper of the Institute of Social and Economic Research of Osaka University (No.415) 19 1996年
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The Discussion Paper of the Institute of Social and Economic Research of Osaka University (No.414) 13 1996年
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日本大学経済学部経済科学研究所紀要 12 47-72 1988年3月20日The purpose of this paper is to study the effects of Japanese Subsidized Housing Loans financed by the Japanese Housing Loan Corporation (JHLC) on housing decisions by especially focusing on the tradeoff between quality and quantity. At first, we have shown, based on the data analysis, that the present JHLC financing system brings distortion on housing decisions of house purchasers because it emphasizes the quantity aspects of housing. That is to say, it determines the amount of funds to subsidize based on the offered floor space. Next, we have constructed the theoretical model of the behavior of purchasers by incorporating the above tradeoff. The unique feature of our model is that the unit price of housing depends on the quality. Our analysis shows that though it is preliminary, we should modify the present JHLC financing system by considering quality aspects. The further consideration of this aspect is our future research topic.
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日本大学経済学部経済科学研究所紀要 8 273-289 1984年3月20日This paper presents models based on microeconomic theoretical foundations, estimates the parameters of the models of the Japanese aggregate homeownership rates from 1958 to 1978 by time-series data in order to study the determinants of the housing tenure choice, and simulates some results. We have made clear when the aggregate homeownership rates depend both on the relative tenure prices and demographic factors and when not by explicitly showing the theoretical relationship between the aggregate ratio and the micro individual behavior. We have constructed the relative housing prices of owning and renting based on the Japanese tax system. The estimated results suggest that the change in the Japanese aggregate homeownership rates after 1958 was greatly influenced by demographic and social factors. It was also shown that the Japanese aggregate homeownership rate is sensitive to the Japanese income tax system.
書籍等出版物
36-
Springer: Advances in Japanese Business and Economics 19 2019年5月 (ISBN: 9789811333699, 9789811333682) RefereedClarifies a variety of problems stemming from the uniqueness of Japanese housing systems and related regulations.Shows the post-earthquake changes in earthquake preparedness and risk mitigation activities of households after the Great East Japan Earthquake of 2011. Provides the first rigorous econometric analysis of the Japanese housing sector in the field of applied urban economics that takes full advantage of longitudinal household data.
講演・口頭発表等
95-
MIT Asia Real Estate Initiative Inaugural Symposium 2023年7月31日 招待有り
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Asian Real Estate Society 2023 Annual Conference 2023年7月14日
Works(作品等)
26共同研究・競争的資金等の研究課題
18-
日本学術振興会 科学研究費助成事業 特別推進研究 2022年4月 - 2027年3月
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日本学術振興会 科学研究費助成事業 基盤研究(A) 2022年4月 - 2027年3月
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日本学術振興会 科学研究費助成事業 基盤研究（C） 2022年4月 - 2026年3月
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日本学術振興会 科学研究費助成事業 基盤研究(C) 2021年4月 - 2026年3月
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日本学術振興会 科学研究費助成事業 基盤研究(A) 2017年4月 - 2022年3月