Public policy, private preferences, and the Japanese trade pattern
Article Abstract:
The proliferation of the non-tariff trade policy has made it harder to analyze correlations between trade flow and trade policy. Much of the study in this area has been applied to Japanese networks of affiliated firms or keiretsu. A new model, which factors in observable protection in traditional and non-traditional forms, factor endowments and keiritsu indicate the strong effect of keiritsu and trade policy of Japanese trade performance. In the new model, critical modelling assumptions underpinning varying conclusions in previous studies are resolved through nesting of alternative cross-sectional models.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1997
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The J-shape of performance persistence given survivorship bias
Article Abstract:
An analysis of performance persistence with regards to survival reveals that a J-shaped performance graph may result from plotting survivorship bias. Mutual funds performing poorly are likely to go out of business and failure to obtain data on these businesses results in a survivorship-biased sample. Survivorship bias is obtained both from theoretical models and from simulations. Learning the J-shaped performance enables social scientists to compute for real differential performance.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1997
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