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Ando, Albert

Works: 58 works in 275 publications in 2 languages and 4,177 library holdings
Genres: Conference papers and proceedings 
Roles: Author, Editor, Other, Honoree, ed
Classifications: HJ2381, 336.2050973
Publication Timeline
Publications about Albert Ando
Publications by Albert Ando
Publications by Albert Ando, published posthumously.
Most widely held works about Albert Ando
Most widely held works by Albert Ando
The structure and reform of the U.S. tax system by Albert Ando( Book )
9 editions published between 1983 and 1985 in English and held by 857 libraries worldwide
Studies in economic stabilization by Albert Ando( Book )
16 editions published between 1968 and 1971 in English and Undetermined and held by 686 libraries worldwide
Essays on the structure of social science models by Albert Ando( Book )
21 editions published between 1963 and 2003 in English and Undetermined and held by 521 libraries worldwide
International aspects of stabilization policies : proceedings of a conference held at Williamstown, Massachusetts, June 1974 by Federal Reserve Bank of Boston( Book )
16 editions published between 1974 and 1975 in English and Undetermined and held by 302 libraries worldwide
Saving and the accumulation of wealth : essays on Italian household and government saving behavior ( Book )
12 editions published between 1994 and 2006 in English and held by 218 libraries worldwide
The evolution of private saving and its interaction with government fiscal policy play an important and complex role in the development of the national economy. To gain insight into this process, it is imperative that we improve our understanding of the savings behaviour of individual households and of the ways in which they aggregate over the entire population to produce national saving. Italy provides an ideal laboratory in which to assess the impact of government and private transfer, imperfections in the capital markets, productivity growth and shifting demographic patterns on the saving behavior of individual households and on their aggregation into total private saving. The book draws on the Italian experience and data, and offers findings on many aspects of the process of saving determination
Long-run growth and short-run stabilization : essays in memory of Albert Ando ( Book )
8 editions published in 2006 in English and held by 114 libraries worldwide
There is much confusion in the economics literature on wage determination and the employment - inflation trade-off. Albert Ando pays careful attention to the definition and meaning of long-run concepts. The contributions in this work elaborate on the main issues of economic analysis and policies that concerned him
Cost of capital for the United States, Japan, and Canada : an attempt at measurement based on individual company records and aggregate national accounts data by Albert Ando( Book )
15 editions published between 1996 and 1998 in English and held by 64 libraries worldwide
A conceptual basis is laid out for measuring the cost of capital for corpora- tions from data typically available in countries such as the US, Canada, and Japan. Attempts are made to carry out the measurement based both on the accounting records of individual companies and on the aggregate National Accounts data, supplemented by the market information on the price of equity shares. We find a consistent pattern for the US from both sets of data, and the real cost of capital after depreciation and before taxes is found to fluctuate around 10-11% without a persistent trend. For Canada, the indivi- dual company data cover too few companies for too short a period to produce reliable estimates. The aggregate National Accounts data for Canada supple- mented by some unpublished data supplied by Statistics Canada suggest that the cost of capital in Canada is equal to or somewhat lower than that in the US For Japan, the individual company accounts and National Accounts data yield apparently inconsistent results. Attempts are made to identify the sources of inconsistency, although the full clarification of this problem must await the publication by the Economic Planning Agency of a detailed and full explanation of the derivation of its national accounts estimates. Finally, we suggest that the extraordinarily high prices of land and the persistent real capital gains which companies enjoyed on their ownership of land until 1990 were an important cause leading to an underestimation of the cost of capital when the standard procedure is applied to Japanese data, and effects still appear to persist
Demographic dynamics, labor force participation and household asset accumulation : case of Japan by Albert Ando( Book )
11 editions published in 1995 in English and held by 62 libraries worldwide
A dynamic model of the demographic structure of Japan is summarized. It is capable of tracing the dynamic development of the Japanese population, including the distribution of families by age, sex, and marital status of the head, as well as by the number and age of children and other dependents. This model is combined with a specification of the processes generating family income and consumption, and then used to generate the pattern of aggregate income, saving and asset accumulation for the period 1985-2090 under alternative fertility assumptions. The results suggest that the saving-income ratio for Japan will increase slightly in the immediate future as the number of children per family declines sharply, and then fall moderately as the proportion of older persons in the population increases. Quantitative results depend critically on the labor force participation rate of older persons and on the probability of older persons merging into younger households. However, unless some major changes in Japanese saving behavior take place, our analysis suggests that Japan will have an unusually high net worth-income ratio as its population stabilizes or begins to decline
Dissaving by the elderly, transfer motives and liquidity constraints by Albert Ando( Book )
11 editions published in 1993 in English and held by 55 libraries worldwide
Two explanations have been proposed for the observed slowness of wealth decumulation by the elderly in the literature: the precautionary saving induced by (uninsurable) uncertainty about the time of death or by the possibility of major catastrophes in old age that require large outlays; the desire to pass part of the accumulated assets on to one's heirs. We reconsider the issue of wealth decumulation by the elderly and assess the presence of a transfer motive, drawing on Italian data. We show that if intergenerational transfer of assets takes place well before the time of death, induced for instance by existence of liquidity constraints on younger families, then tests for the presence of a transfer motive based on the relative speed of decumulation of elderly households with and without a potential bequest motive might have little discriminatory power. We suggest that in this case one should look at the whole pattern of asset accumulation and decumulation. We also offer an alternative test of the bequest motive based on life insurance purchases
On the Japanese economy and Japanese national accounts by Albert Ando( Book )
12 editions published in 2000 in English and held by 54 libraries worldwide
Abstract: A review of the Japanese National Accounts reveals that the Japanese household sector has apparently suffered a capital loss of some 400 trillion-yen in 1990 consumption prices since 1970. This loss is large enough to explain most of the Japanese recession of the 1990's. We can trace some three-fourths of this capital loss to the loss in the market value of Japanese corporations relative to their accounting value (at reproduction cost). While some plausible explanations for this loss can be offered, they are subject to serious doubts because of difficulties encountered in working with the Japanese National Accounts data. Similarly, we find total government expenditures reported in Japanese fiscal statistics difficult to interpret, and the difference between this total and total expenditures for the general government sector in the National Accounts hard to identify and understand. Until the relationship between the budget totals and the corresponding figures in the National Accounts is fully clarified, we are unable to say what the actual history of Japanese fiscal policy has been. We conclude the paper with a set of suggestions for improving the Japanese government's fiscal statistics and its National Income Accounts. We also hope that our discussion will serve as a guide for users of these statistics as to where they must be cautious
Prices, wages, and employment in the U.S. economy : a traditional model and tests of some alternatives by Albert Ando( Book )
14 editions published in 1993 in English and Undetermined and held by 53 libraries worldwide
In this paper, we outline the cost minimizing behavior of oligopoly firms and the price adjustment process in the labor market which underlie the traditional formulation of aggregate wage-price behavior in the U.S., and show that resulting equations applied to U.S. data remain stable before and after the significant change in the monetary policy rule that had taken place in 1979. This result contradicts the prediction of the Lucas critique applied to this context that, in response to a major change of the monetary policy rule, the Phillips curve and the price setting equation of firms would have undergone significant changes. We test several competing hypotheses for the price level determination, including the possibility that more direct effect of the money supply should be relevant, and show that our formulation dominates alternatives in non- nested tests. Finally, we present evidence that the nature of capital is putty-clay rather than fully malleable, together with a demand function for labor based on this recognition. In the process of these inquiries, we contrast our formulation with that proposed by Layard and Nickell in England
Inefficiency of corporate investment and distortion of savings behavior in Japan by Albert Ando( Book )
11 editions published in 2003 in English and held by 48 libraries worldwide
The value of corporate equity in Japan is dramatically smaller than that implied by the sum of the reproduction cost of accumulated investment and the market value of land owned by corporations (that is, the Tobin's average 'q' is much smaller than unity). This discrepancy appears to result from the very low rate of return earned on corporate investment and also from the extraordinarily small and stagnant dividend payments. It has persisted at least since l965, and its size has become progressively larger over time. If the value of corporate equity were sufficiently high to close the discrepancy, the net worth of the household sector would have been larger than its actual value by some 395 trillion yen in l998. Such an addition to household net worth would have generated additional consumption demand of at least 15 trillion yen. This paper traces the development of this valuation discrepancy over time, and explores its possible causes. In the process, we prepare an alternative estimate of the capital stock and its depreciation to those offered in the National Accounts. The basic difference is that the depreciation rates underlying our calculations are substantially lower than those used in the Japanese National Accounts, and closer to values prevailing in the United States. The qualitative characteristics of our results, however, remain unaffected by the choice between these alternative estimates
Younger households saving : evidence from Japan and Italy by Albert Ando( Book )
12 editions published in 1991 in English and held by 42 libraries worldwide
Both young and old consumers appear to dissave too little for their behaviour to be consistent with a strict life cycle model. We concentrate on young households and document their behaviour drawing from Italian and Japanese data. We also provide a theoretical set-up which can account for the observed fact without relying on assumptions about the working of credit markets or the degree of foresight of consumers
Young households' saving and the life cycle of opportunities : evidence from Japan and Italy by Albert Ando( Book )
5 editions published in 1992 in English and held by 42 libraries worldwide
The cost of capital in Japan : recent evidence and further results by Albert Ando( Book )
8 editions published between 1990 and 1991 in English and held by 34 libraries worldwide
Abstract: (2) Correcting Japanese accounting statements for cross-holding
A micro simulation model of demographic development and households' economic behavior in Italy by Albert Ando( Book )
6 editions published between 2004 and 2005 in English and held by 32 libraries worldwide
The cost of capital in the U.S. and Japan : a comparison by Albert Ando( Book )
9 editions published between 1987 and 1990 in English and held by 28 libraries worldwide
This paper uses financial statement data for large samples of U.S. and Japanese nonfinancial corporations to estimate the return to capital in each country for the period 1967-83. Interpreting these as measures of the cost of capital, we find that the before-tax cost of corporate capital was higher for U.S. firms than for their Japanese counterparts, with the average gap potentially as high as 5.8 percentage points. The use of alternative measurement techniques alters the gap slightly but does not alter the basic finding. However, market returns in the two countries were much closer during the same period. Certain potential explanations for the gap in returns are rejected by empirical evidence, including differences in corporate taxation, differences in borrowing and differences in asset mix. This leaves three potential explanations: differences in risk, differences in the tax treatment of individual capital income and imperfections in the international flow of capital
The corporate cost of capital in Japan and the U.S. : a comparison by Albert Ando( Book )
12 editions published between 1985 and 1989 in English and held by 25 libraries worldwide
This paper presents evidence about the coats of corporate capital in Japan and the US, for a sample of large companies, and evaluates a variety of hypotheses about why the cost might be lower in Japan. We find that the before-tax return to capital in Japan appears slightly lower than in the U.S. when corrected book measures of earnings are used, but that this result would be reversed if market returns to Japanese equity were used in place of corrected earningsto measure the cost of equity. To what ever extent the cost of capital may actually be lower in Japan, we show that this is unlikely to be due either to a lower overall corporate tax burden or the particular tax advantages of corporate borrowing
Diario sin fechas : escenarios para un poeta barroco by Albert Ando( Book )
1 edition published in 1997 in Spanish and held by 9 libraries worldwide
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Alternative Names
Albert Ando Professor of economics/finance
Ando, Albert K. 1929-2002
Андо, Альберт
Ալբերտ Անդո
앨버트 안도 경제학자
English (222)
Spanish (1)
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