抄録
The aims of this paper are the making econometric models of regulation and tracing of cyclical regulating behavior. We shall not make a generalized model of regulation, but focus on the Japanese retail industry. Since the Japanese retail industry responds to regulation based on the law, we can easily investigate its characteristics.
As shall we show here, we can easily observe the cyclical behavior of the regulation based on Sam Pelzman's paper (1976) . According to his hypothesis, we shall set up the calibrating schema as follows :
The public decision-makers adopt policies in small shopper's favor when they are facing the economic depression, but if the economic situation is positive, they change to policies in the consumer's favor. Therefore the cyclical behavior of regulation for large retailer's location can be statistically observed in relation to shortrun economic fluctuation.
The outcome of the calibration and simulations indicate the presence of a cyclical fluctuation of regulating behavior adopted by public authorities and the presence of a time lag in it. Although these results are theoretically noted by Sam Pelzman's paper, the empirical tests are not provided there. This paper clearly supports them with a statistical evidence.
