Motivation for Social and Economic Change in Japan

Paper by Christie W. Kiefe

Asymmetry, realised volatility and stock return risk estimates

In this paper we estimate minimum capital risk requirements for short and long positions with three investment horizons, using the traditional GARCH model and two other GARCH-type models that incorporate the possibility of asymmetric responses of volatility to price changes. We also address the problem of the extremely high estimated persistence of the GARCH model to generate observed volatility patterns by including realised volatility as an explanatory variable into the model’s variance equation. The results suggest that the inclusion of realised volatility improves the GARCH forecastability as well as its ability to calculate accurate minimum capital risk requirements and makes it quite competitive when compared with asymmetric conditional heteroscedastic models such as the GJR and the EGARCH.info:eu-repo/semantics/publishedVersio

Militarism and world health

Militarism is a rapidly growing factor in that complex network of social, political and economic causes of ill health among the world's poor. This complex of causes is driving a spiral of class inequality, political instability, and military repression in many less developed nations. These nations share a uniform security doctrine, which has major health impacts. Here five impacts are noted: diversion of resources, suppression of dissent, military classism, environment damage, and crime and terrorism. The demand stimulated by the recent Persian Gulf War for expensive, high-technology weapons may deepen Third World debt and fuel the cycle of poverty, ill health, social unrest, and military oppression. International health workers need to take account of the causes and effects of militarism in their studies of health problems. Their work could be aided by organizations that promote disarmament and environment preservation.violence military poverty social inequality environment

Refuge of the honored: social organization in a Japanese retirement community

Faced with the decline of the traditional family and the explosive growth of the over-65 population, the Japanese are looking for new ways to care for their elders. This timely study documents the birth of a major social phenomenon in Japan - the planned retirement community.In the mid-1980s, Yasuhito Kinoshita spent a year living in Japan's first such community, Fuji-no-Sato. His collaboration with Christie W. Kiefer, a cultural gerontologist, is the first detailed study of a retirement community in a non-Western culture.Fuji-no-Sato is a social community with no visible traditions. Kinoshita and Kiefer show that its residents' preference for long-established relationships creates the need for the invention of relationships that have no precedent in Japanese society.This book reveals much about Japanese culture, and about the "graying of society" that plagues the newly industrialized countries of Asia. Its lessons about sensitivity to the elderly's values and the need for clear communication have important applications in other cultures as well