Directory of Researchers

IWASA Kazumichi
Research Institute for Economics and Business Administration / Global Economy Unit
Professor
Business / Economics
Last Updated :2022/01/10

Researcher Profile and Settings

Affiliation

  • <Faculty / Graduate School / Others>

    Research Institute for Economics and Business Administration / Global Economy Unit
  • <Related Faculty / Graduate School / Others>

    Graduate School of Economics / Division of Economics, Center for Computational Social Science (CCSS)

Teaching

Research Activities

Research Areas

  • Humanities & social sciences / Theoretical economics

Published Papers

  • Kazumichi Iwasa, Kazuo Nishimura

    Lead, Wiley, Mar. 2021, International Journal of Economic Theory, 17 (1), 31 - 45, English, International magazine

    [Refereed]

    Scientific journal

  • Kazumichi Iwasa, Laixun Zhao

    Lead, Elsevier, Dec. 2020, Journal of Mathematical Economics, 91, 99 - 110, English

    [Refereed]

    Scientific journal

  • 貿易と大域的不決定性

    岩佐和道

    Lead, 神戸大学経済経営学会, Mar. 2020, 国民経済雑誌, 221 (3), 71 - 82, Japanese

  • IWASA Kazumichi, NISHIMURA Kazuo, YANO Makoto

    Wiley, Mar. 2019, International Journal of Economic Theory, 15 (1), 37 - 51, English

    [Refereed]

    Scientific journal

  • IWASA Kazumichi, Gerhard Sorger

    Elsevier, Oct. 2018, Journal of Mathematical Economics, 78, 59 - 63, English

    [Refereed]

    Scientific journal

  • 南北貿易モデルにおける不決定性の発生

    IWASA Kazumichi

    神戸大学経済経営学会, Feb. 2018, 国民経済雑誌, 212 (6), 89 - 99, Japanese

    Scientific journal

  • ヘクシャー・オリーンモデルに関する図を用いた考察

    IWASA Kazumichi

    神戸大学経済経営学会, Dec. 2015, 国民経済雑誌, 212 (6), 65 - 76, Japanese

    Scientific journal

  • Kazumichi Iwasa, Kazuo Nishimura

    In this paper, we extend Doi et al. (2007) in the sense that households in both countries consume a durable good. Although this generalization makes the model much complicate, it will be shown that under the standard Cobb-Douglas preferences, the model has a unique steady state and saddle-point stability.

    TAYLOR & FRANCIS LTD, 2015, JOURNAL OF DIFFERENCE EQUATIONS AND APPLICATIONS, 21 (12), 1305 - 1314, English

    [Refereed]

    Scientific journal

  • Kazumichi Iwasa, Kazuo Nishimura

    We extend a dynamic Heckscher-Ohlin model with production externality presented in recent work by Nishimura and Shimomura by assuming a consumable capital good. Following work by Bond, Iwasa, and Nishimura, we define a steady-state excess demand function and derive the locus of home and foreign capital stocks that are consistent with a steady-state equilibrium under free trade. Also, we examine the relationship between externality and local dynamics in autarky or under free trade, which includes a phase diagram analysis. Then we show that opening trade can generate expectation-driven fluctuations in a world trade market. © IAET.

    Mar. 2014, International Journal of Economic Theory, 10 (1), 53 - 74, English

    [Refereed]

    Scientific journal

  • Eric W. Bond, Kazumichi Iwasa, Kazuo Nishimura

    We extend the dynamic Heckscher-Ohlin model in Bond et al. [Economic Theory (48, 171-204, 2011)] and show that if the labor-intensive good is inferior, then there may exist multiple steady states in autarky and poverty traps can arise. Poverty traps for the world economy, in the form of Pareto-dominated steady states, are also shown to exist. We show that the opening of trade can have the effect of pulling the initially poorer country out of a poverty trap, with both countries having steady state capital stocks exceeding the autarky level. However, trade can also pull an initially richer country into a poverty trap. These possibilities are a sharp contrast with dynamic Heckscher-Ohlin models with normality in consumption, where the country with the larger (smaller) capital stock than the other will reach a steady state where the level of welfare is higher (lower) than in the autarkic steady state.

    Cambridge University Press, 2013, Macroeconomic Dynamics, 17 (6), 1227 - 1251, English

    [Refereed]

    Scientific journal

  • Eric W. Bond, Kazumichi Iwasa, Kazuo Nishimura

    In this paper, we show that the main results of dynamic HeckscherOhlin models (with non-homothetic preferences) can be derived from diagrams which represent the basic functions in static models such as the Rybczynski line, income expansion paths, and excess demand functions at steady states. Results include not only the existence and the multiplicity of steady states in autarky and under free trade, but also their stabilities and the static and dynamic HeckscherOhlin theorems.

    WILEY-BLACKWELL, Jun. 2012, INTERNATIONAL JOURNAL OF ECONOMIC THEORY, 8 (2), 197 - 211, English

    [Refereed]

    Scientific journal

  • A Dynamic Heckscher-Ohlin Model and Inferior Goods

    Eric W. Bond, Kazumichi Iwasa, Kazuo Nishimura

    Under the assumption that a pure consumption good is labor intensive, we examined the properties of a two-country dynamic Heckscher-Ohlin model that allows for preferences to be non-homothetic (Bond et al. (2009)). In this paper, we assume that a pure consumption good is capital intensive and study the properties of the model. If both goods are normal, each country will have a unique autarkic steady state, and all steady state equilibria are saddle points. We also consider the case in which one good is inferior, and show that this can lead to multiple autarkic steady states and the possibility of inderminacy under free trade as in Bond et al. (2009).

    CITY UNIV HONG KONG, DEPT ECONOMICS & FINANCE, Dec. 2011, ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS, 18 (3), 217 - 236, English

    [Refereed]

    Scientific journal

  • The effects of home bias in a model of endogenous growth

    BOND Eric W, IWASA Kazumichi, NISHIMURA Kazuo

    World Scientific Publishing Co Pte Ltd, Dec. 2011, International Journal of Development and Conflict, 1 (3), 339 - 354, English

    [Refereed]

    Scientific journal

  • Kazumichi Iwasa, Toru Kikuchi

    Both deeper market integration and advances in digital technology have driven particularly large decreases in the costs of intermarket software provision. This study first explains the mechanism of how trade costs influence the software provision decisions of software firms. Then the transformation of production/trade patterns is investigated given gradually decreasing trade costs for software products. It is shown that if two incompatible types of hardware exist, deeper market integration may reduce the variety of hardware technologies. It is also shown that, if the variety of hardware technologies is reduced by deeper integration, some consumers are made worse off.

    WILEY-BLACKWELL, Sep. 2011, REVIEW OF INTERNATIONAL ECONOMICS, 19 (4), 685 - 696, English

    [Refereed]

    Scientific journal

  • Eric W. Bond, Kazumichi Iwasa, Kazuo Nishimura

    We examine the properties of a two-country dynamic Heckscher-Ohlin model that allows for preferences to be non-homothetic. We show that the model has a continuum of steady state equilibria under free trade, with the initial conditions determining which equilibrium will be attained. We establish conditions under which a static Heckscher-Ohlin theorem will hold in the steady state, and also conditions for a dynamic Heckscher-Ohlin theorem to hold. If both goods are normal, each country will have a unique autarkic steady state, and all steady state equilibria are saddle points. We also consider the case in which one good is inferior, and show that this can lead to multiple autarkic steady states, violations of the static Heckscher-Ohlin theorem in the steady state. Furthermore, there may exist steady state equilibria that Pareto dominate other steady states. These steady states will be unstable if discount factors are the same in each country, although they may exhibit dynamic indeterminacy if discount factors differ.

    SPRINGER, Sep. 2011, ECONOMIC THEORY, 48 (1), 171 - 204, English

    [Refereed]

    Scientific journal

  • Toru Kikuchi, Kazumichi Iwasa

    The main purpose of this study is to illustrate, with simple trade theory, the relationship between competing industrial standards and trade liberalization. We assume that there are two competing industrial standards in an international context, each of which applies to a group of differentiated products. A product can be used only in combination with other products based on the same industrial standard.We examine the impact of trade liberalization (i.e., a decline in trade costs) on consumers' choice of a standard. It will be shown that the degree of indirect network effects, captured with substitution between differentiated products, plays an important role as a determinant of the impact of trade liberalization. © 2011 Korea International Economic Association.

    Routledge, Jun. 2011, International Economic Journal, 25 (2), 269 - 284, English

    [Refereed]

    Scientific journal

  • 時間選好率格差と貿易インバランス

    KIKUCHI Toru, IWASA Kazumichi

    神戸大学経済経営学会, Mar. 2010, 国民経済雑誌, 201 (3), 81 - 94, Japanese

    Scientific journal

  • Toru Kikuchi, Kazumichi Iwasa

    This note proposes a two-country model of service trade that captures the role of time zone differences as a determinant of trade patterns. It is shown that the utilization of communication networks induces dramatic change in industrial structure due to firms taking advantage of time zone differences. (c) 2009 Elsevier Inc. All rights reserved.

    ELSEVIER SCIENCE BV, Jan. 2010, INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 19 (1), 75 - 80, English

    [Refereed]

    Scientific journal

  • Giffen behavior independent of the wealth level

    DOI Junko, IWASA Kazumichi, SHIMOMURA Kazuo

    Nov. 2009, Economic Theory, Vol.41, No.2, pp.247-267, English

    [Refereed]

    Scientific journal

  • Kazumichi Iwasa, Toru Kikuchi

    In this note, we examine how trade liberalization affects production structure in the presence of indirect network effects (hardware/software systems). For these purposes we construct a simple two-country model of trade with two incompatible hardware technologies. It is shown that, given that both types of hardware exist before trade liberalization, liberalization and increased intra-industry trade in software products may reduce the variety of hardware technology via intensified network effects. It is also shown that, contrary to the findings of previous studies on intra-industry trade, some consumers may become worse off as the result of trade.

    ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD, 2009, JOURNAL OF INTERNATIONAL TRADE & ECONOMIC DEVELOPMENT, 18 (4), 541 - 552, English

    [Refereed]

    Scientific journal

  • Toru Kikuchi, Kazumichi Iwasa

    The purpose of this study is to illustrate, with a simple two-region, two-good, two-factor model, how an improvement in one region's import infrastructure can affect firms' location decisions and the nature of the trading equilibrium. It is shown that, through improvements in import infrastructure, one region might divert high-tech industries to another region. This effect reduces the incentive to improve import infrastructure. © Springer-Verlag 2009.

    Springer-Verlag, 2009, International Economics and Economic Policy, 6 (4), 361 - 365, English

    [Refereed]

    Scientific journal

  • 間接ネットワーク効果と国際貿易

    KIKUCHI Toru, IWASA Kazumichi

    神戸大学経済経営学会, Mar. 2008, 国民経済雑誌, 197 (3), 65 - 73, Japanese

    Scientific journal

  • Pareto-improving trading clubs without income transfers

    IWASA Kazumichi, RIEZMAN Raymond, SHIMOMURA Koji

    Emerald Group Publishing Limited, 2008, in Long, N.V., Tawada, M., and Tran-Nam, B. eds. Globalization and Emerging Issues in Trade Theory and Policy, 10, 139 - 162, English

    [Refereed]

    Scientific journal

  • A dynamic Chamberlin-Heckscher-Ohlin model with endogenous time preference

    IWASA Kazumichi, KIKUCHI Toru, SHIMOMURA Koji

    The Japan Society of International Economics, 2008, International Economy, 12, 28 - 42, English

    [Refereed]

    Scientific journal

  • Software provision, indirect network effects and trade patterns

    IWASA Kazumichi, KIKUCHI Toru

    Economics Bulletin, Jul. 2007, Economics Bulletin, 6 (24), 1 - 9, English

    [Refereed]

    Scientific journal

  • 文化的製品の貿易自由化について

    KIKUCHI Toru, IWASA Kazumichi

    神戸大学経済経営研究所, Mar. 2007, 経済経営研究, 57, 149 - 159, Japanese

    Scientific journal

  • A family of utility functions which generate Giffen paradox

    IWASA Kazumichi, SHIMOMURA Koji

    関西学院大学経済学部研究会, Mar. 2007, 経済学論究, 60 (3), 29 - 45, English

    Scientific journal

  • Strategic divisionalization, product differentiation and international competition

    IWASA Kazumichi, KIKUCHI Toru

    The Association of Korean Economic Studies, 2007, Journal of the Korean Economy, 8 (2), 295 - 303, English

    [Refereed]

    Scientific journal

  • Junko Doi, Kazumichi Iwasa, Koji Shimomura

    We show that indeterminacy arises in a discrete-time competitive two-country dynamic model of international trade in which externalities, imperfect competition, public goods, and government intervention are assumed away. The present model is a standard dynamic trade model in the sense that there is neither an international credit market nor international factor mobility, and these intrinsic features are a source of indeterminacy. Indeterminacy is implied by the condition for the existence of a steady state.

    TAYLOR & FRANCIS LTD, 2007, JOURNAL OF DIFFERENCE EQUATIONS AND APPLICATIONS, 13 (2-3), 135 - 149, English

    [Refereed]

    Scientific journal

  • Cost heterogeneity and strategic divisionalization

    IWASA Kazumichi, KIKUCHI Toru

    神戸大学経済学研究科, 2007, Kobe University Economic Review, 53, 31 - 33, English

    Scientific journal

  • Indeterminacy in a Model with Production Externality and Inferiority in Consumption

    Kazumichi Iwasa, Kazuo Nishimura

    Lead, Wiley, 2021, International Journal of Economic Theory, Forthcoming, English, International magazine

    [Refereed]

    Scientific journal

Presentations

  • Inequalities and Patience in Catching Up

    IWASA Kazumichi

    VGSE Research Seminar, Jun. 2017, English, VGSE Research Seminar, University of Vienna, International conference

    Oral presentation

  • Inequalities and Patience in Catching Up

    IWASA Kazumichi

    17th SAET Conference on Current Trends in Economics, Jun. 2017, English, Society for the Advancement of Economic Theory, Faro, Portugal, International conference

    Oral presentation

  • Indeterminacy in a model with production externality and inferiority in consumption

    IWASA Kazumichi

    Seminar, Nov. 2015, English, Seoul National University, Seoul National University, International conference

    Oral presentation

  • 市場の働きとその効率性

    IWASA Kazumichi

    平成27年度神戸大学経済経営研究所公開講座・ひょうご講座「多種多様な市場取引―その働きと効率性」, Jul. 2015, Japanese, 神戸大学経済経営研究所, 神戸大学, Domestic conference

    Oral presentation

  • Trade and Indeterminacy

    IWASA Kazumichi

    15th SAET Conference on Current Trends in Economics, Jul. 2015, English, Society for the Advancement of Economic Theory, University of Cambridge, International conference

    Oral presentation

  • Inequalities and Patience for Tomorrow

    IWASA Kazumichi

    The 2nd Hanyang-Kobe-Nanyang Conference in Economics, May 2014, English, 漢陽大学校経済金融大学・経済研究所, 神戸大学経済経営研究所・大学院経済学研究科, 南洋理工大学経済学部, Kobe University, International conference

    Oral presentation

  • A dynamic two country Heckscher-Ohlin model with externality

    IWASA Kazumichi

    日本経済学会2013年度秋季大会特別セッション, Sep. 2013, Japanese, 日本経済学会, 神奈川大学, Domestic conference

    [Invited]

    Invited oral presentation

  • Trade and Indeterminacy

    IWASA Kazumichi

    Asian Meeting of the Econometric Society, Aug. 2013, English, Department of Economics, National University of Singapore, Department of Economics, National University of Singapore, Singapore, International conference

    Oral presentation

  • The rush to modernity and the widening of inequality

    岩佐 和道

    日本経済学会2012年度春季大会, Jun. 2012, Japanese, 日本経済学会, 北海道大学, Domestic conference

    Oral presentation

  • The Dynamic Heckscher-Ohlin Model: A Diagrammatic Analysis

    岩佐 和道

    六甲フォーラム, Jan. 2012, Japanese, 神戸大学大学院経済学研究科, 神戸大学, Domestic conference

    Oral presentation

  • Domestic and International Inequalities under Endogenous Time Preferences

    岩佐 和道

    マクロ経済学研究会, Jul. 2011, Japanese, マクロ経済学研究会, 大阪大学, Domestic conference

    Oral presentation

  • Poverty trap and inferior goods in a dynamic Heckscher-Ohlin model

    Kazumichi Iwasa

    The 9th Biennial Pacific Rim Conference, Apr. 2011, English, Western Economic Association International, Queensland University of Technology, International conference

    Oral presentation

  • The Dynamic Heckscher-Ohlin Model: A Diagrammatic Analysis

    岩佐 和道

    日本国際経済学会関西支部研究会2011年度第5回, Mar. 2011, Japanese, 日本国際経済学会関西支部, 関西学院大学, Domestic conference

    Oral presentation

  • International inequalities and endogenous time preference

    Kazumichi Iwasa

    IEFS Japan Annual Meeting 2010, Nov. 2010, English, International Economics and Finance Society Japan, 神戸大学, International conference

    Oral presentation

  • Poverty trap, dynamic gains from trade, and inferiority in consumption

    岩佐 和道

    日本国際経済学会第69回全国大会, Oct. 2010, Japanese, 日本国際経済学会, 大阪大学, Domestic conference

    Oral presentation

  • A dynamic two country Heckscher-Ohlin model with non-homothetic preferences

    Kazumichi Iwasa

    The 12th Annual Conference of the European Trade Study Group, Sep. 2010, English, European Trade Study Group, University of Lausanne, International conference

    Oral presentation

  • A dynamic two country Heckscher-Ohlin model with non-homothetic preferencesA dynamic two country Heckscher-Ohlin model with non-homothetic preferences

    岩佐 和道

    日本経済学会2010年度春季大会, Jun. 2010, Japanese, 日本経済学会, 千葉大学, Domestic conference

    Oral presentation

  • Multiple equilibria in a dynamic North-South model

    Kazumichi Iwasa

    The 15th International Conference on Difference Equations and Applications, Oct. 2009, English, Center for Mathematical Analysis, Geometry, and Dynamical Systems, Estoril, Portugal, International conference

    Oral presentation

  • Multiple equilibria and indeterminacy in a dynamic two-country model

    岩佐 和道

    ミクロ経済学・ゲーム理論研究会, Jun. 2009, Japanese, 京都大学経済研究所, 京都大学, Domestic conference

    Oral presentation

  • Multiple equilibria and indeterminacy in a dynamic two-country model

    Kazumichi Iwasa

    The 8th Biennial Pacific Rim Conference, Mar. 2009, English, Western Economic Association International, Ryukoku University, International conference

    Oral presentation

  • Software provision and the impact of market integration: A note

    Kazumichi Iwasa

    The 4th Annual Meeting of the Asia Pacific Trade Seminars, Jul. 2008, English, Discipline of Economics and the Discipline of Econometrics and Business Statistics Faculty of Economics and Business, The University of Sydney, University of Sydney, International conference

    Oral presentation

  • Software provision and the impact of market integration

    岩佐 和道

    日本経済学会2008年度春季大会, Jun. 2008, Japanese, 日本経済学会, 東北大学, Domestic conference

    Oral presentation

  • Software provision and the impact of market integration: A note

    岩佐 和道

    日本国際経済学会関西支部研究会2007年度第5回, Mar. 2008, Japanese, 日本国際経済学会関西支部, 大阪産業大学, Domestic conference

    Oral presentation

  • Software provision and the impact of market integration: A note

    岩佐 和道

    第12回名古屋国際経済研究会, Mar. 2008, Japanese, 名古屋国際経済研究会, 中京大学, Domestic conference

    Oral presentation

  • Indirect network effects and the impact of trade liberalization: A note

    岩佐 和道

    関西学院大学経済学奨励セミナー, Jan. 2008, Japanese, 関西学院大学, Domestic conference

    Oral presentation

  • Indirect network effects, trade liberalization, and excess standardization

    Kazumichi Iwasa

    Midwest Theory and Trade Meetings Fall 2007, Nov. 2007, English, University of Michigan, University of Michigan, International conference

    Oral presentation

  • Strategic divisionalization, product differentiation and international competition

    Kazumichi Iwasa

    Korea and the World Economy VI, Jul. 2007, English, The Association of Korean Economic Studies, University of Wollongong, International conference

    Oral presentation

  • Indeterminacy in the free-trade world

    Kazumichi Iwasa

    Midwest Theory and Trade Meetings Spring 2007, Apr. 2007, English, Midwest International Economics Group, University of Minnesota, International conference

    Oral presentation

  • A utility function can generate Giffen behavior

    Kazumichi Iwasa

    COE Workshop on Economic Theory and Policy, Dec. 2006, English, Kobe University, International conference

    Oral presentation

  • A well-behaved utility function can generate Giffennian behavior

    岩佐 和道

    日本経済学会2006年度秋季大会, Oct. 2006, Japanese, 日本経済学会, 大阪市立大学, Domestic conference

    Oral presentation

Research Projects