Differences in Characteristics ofReligious Groups in India: As Seen From Household Survey Data

Characteristics of religious groups are an important area that needs to be studied in order to improve the effectiveness of policies aimed at reducing the fertility rate. This paper analyzes the socio-economic characteristics of the religious groups, Hinduism, Muslim, Christianity, and Sikhism, by using a large micro level household survey data set for India. The paper analyzes the characteristics among religious groups not only in terms of averages of religious households but also by using regression models. According to the results of the analyses, there are considerable differences in the socio-economic characteristics among religions. What factors lead to these different characteristics is an important question to be addressed in future studies. The results of this study imply that different policies are needed for different religious groups in order to improve their household conditions and wellbeing.Micro level household data, Socio-economic characteristics of religious groups, Religion dummy, Religious state dummy

Tests on price linkage between the U.S. and Japanese gold and silver futures markets

We tested the price linkage, the law of one price (LOP) condition, and the causality of the price linkage between the U.S. and Japanese gold and silver futures markets with consideration of structural breaks in the price series. The LOP condition did not hold for both the gold and silver markets when structural breaks were not considered but it sustained in some periods when it was tested for the break periods. We found from the causality test that the price linkage between the U.S. and Japanese gold and silver futures markets were led by the U.S. market.gold futures market, silver futures market, cointegration, law of one price, causality test

Linkage among the U.S. Energy Futures Markets

This study tests the price linkage among the U.S. major energy sources, considering structural breaks in time series. We use the Johansen cointegration method and find that only weak linkage sustains among the NYMEX WTI crude oil, Brent crude oil, gasoline, heating oil, coal, natural gas, uranium, and ethanol futures prices. Our tests reveal that the uranium and ethanol futures prices have very weak linkage with other U.S. major energy source prices. This indicates that the U.S. energy market is still at a stage where none of the probable alternative energy source markets are playing the role as a substitute or a complement market for the fossil fuel energy markets and that the U.S. major energy source markets are not integrated as one primary energy market.futures market; structural breaks; Johansen cointegration method

非遺伝子組換え大豆とエネルギーの価格関係について

In the United States, recently the use of soybeans as an energy source has drawn attention. It is concerned in Japan that if the use of soybeans for energy keeps increasing, not only the price of conventional soybeans, which is used for soybean oil, but also the price of non-genetically modified organism (Non-GMO) soybeans, which is consumed for food, will increase. This paper examines the price relationships between the non-GMO and conventional soybean prices, and energy prices such as those of crude oil and ethanol using the cointegration methods. The results suggest that the prices of the non-GMO and conventional soybeans do not have price relationships with those of the energy prices. This implies that the non-GMO and conventional soybean markets are not affected by the energy markets

The U.S. Shale Gas Revolution and Its Effect on International Gas Markets

This paper investigated whether the effect of the shale gas revolution on the U.S. gas market is still a domestic phenomenon or this revolution is influencing the global natural gas market. We used the Bai-Perron test to identify the break date related to the shale gas revolution and tested the price linkages among the U.S., European and Japanese gas markets for the periods before and after this break date. The result indicated that the U.S. gas market had a price linkage with the international market for the period before the revolution affected the U.S. gas production, but this price linkage disappeared for the period after the revolution. This result implied that the U.S. gas market became independent after the shale gas revolution occurred and that the price linkage between the U.S. and international gas market became weaker after the shale gas revolution occurred

Does the energy-environmental Kuznets curve hypothesis sustain in the Asia-Pacific region?

As mitigating the effects of energy consumption on the environment is a crucial issue for the Asia-Pacific region, this study investigates the energy-environmental Kuznets curve (EEKC) hypothesis among the 19 Asia-Pacific regions. The study also test the hypothesis for the low-, middle-, and high-income groups of the region. The panel regression and cointegration models are used for this purpose. Both models suggest that the EEKC hypothesis does sustain for the whole Asia-Pacific region. However, the test performed on the income groups revealed that the hypothesis only holds for the high-income group and the low- and middle-income groups do not satisfy the hypothesis. This is likely indicating that the transition in the energy consumption along the EEKC is only occurring in the developed countries of the Asia-Pacific region

An intervention analysis on the Tokyo grain exchange non- genetically modified and conventional soybean futures market

This paper examines how efficiently the price premium for non-genetically modified (non-GM) soybeans at the Tokyo Grain Exchange (TGE) reacts to an announcement to change the contract unit, suppliers, and expiration date on the conventional soybean futures contract. Intervention analysis is used for this purpose. The results reveal that the price premium for non-GM soybeans increases after the change and this effect remains for four months. Hence, prices of the two soybean futures markets did not respond quickly to the announcement and there was an informational inefficiency after the announcement occurred

Consumer responses to food products produced near the Fukushima nuclear plant

The study examines the consumer survey data collected for the seven agricultural products (rice, apple, cucumber, beef, pork, egg, and shiitake mushrooms) of regions near the Fukushima Daiichi nuclear power plant (FDNP) to find out what factors and attributes of consumers affect their purchasing behavior by using the contingent valuation method. In most of the agricultural products, we found that consumers who put high priority on food safety issue, think the risk of radiation contamination became high after the Fukushima nuclear incident, live distanced from the FDNP, and live with children under the age of 15 require a higher discount rate to accept agricultural products of regions near the FDNP. On the other hand, our study indicated that consumers who trust the current safety standard for radioactive material concentrations in food, knowledgeable about radiation and radioactive materials, have high environmental consciousness, and aged are more likely to accept buying products of regions near the FDNP

The U.S. Shale Gas Revolution and Its Effect on International Gas Markets

This paper investigated whether the effect of the shale gas revolution on the U.S. gas market is still a domestic phenomenon or this revolution is influencing the global natural gas market. We used the Bai-Perron test to identify the break date related to the shale gas revolution and tested the price linkages among the U.S., European and Japanese gas markets for the periods before and after this break date. The result indicated that the U.S. gas market had a price linkage with the international market for the period before the revolution affected the U.S. gas production, but this price linkage disappeared for the period after the revolution. This result implied that the U.S. gas market became independent after the shale gas revolution occurred and that the price linkage between the U.S. and international gas market became weaker after the shale gas revolution occurred

Does the energy-environmental Kuznets curve hypothesis sustain in the Asia-Pacific region?

As mitigating the effects of energy consumption on the environment is a crucial issue for the Asia-Pacific region, this study investigates the energy-environmental Kuznets curve (EEKC) hypothesis among the 19 Asia-Pacific regions. The study also test the hypothesis for the low-, middle-, and high-income groups of the region. The panel regression and cointegration models are used for this purpose. Both models suggest that the EEKC hypothesis does sustain for the whole Asia-Pacific region. However, the test performed on the income groups revealed that the hypothesis only holds for the high-income group and the low- and middle-income groups do not satisfy the hypothesis. This is likely indicating that the transition in the energy consumption along the EEKC is only occurring in the developed countries of the Asia-Pacific region