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Featured researches published by Kazuto Sumita.


Journal of Property Research | 2007

Earthquakes and the Quality of Life in Japan

Michio Naoi; Kazuto Sumita; Miki Seko

Japan is famous for its earthquakes. How do households and firms respond to this potentially devastating risk? How does earthquake risk affect housing costs and wages? To answer these questions, we construct a Quality of Life Index (QOLI) and estimate the social cost of earthquake risk among cities/counties in Japan. The regional QOLI is obtained through estimating the hedonic wage and housing rent regressions using household longitudinal data covering all Japan. From the estimated results, we find that earthquake risk has a significant impact on the overall quality of life in Japanese prefectures, and that there are large city/county differences in terms of the social cost of earthquake risk. Finally, we argue that the large regional variation in the social cost of earthquakes arises from earthquake insurance market imperfections – crude and rough geographical risk rating – and propose a possible remedy for enhancing earthquake insurance risk assessment.


Regional Science and Urban Economics | 2009

Earthquake risk and housing prices in Japan: Evidence before and after massive earthquakes

Michio Naoi; Miki Seko; Kazuto Sumita


Journal of Real Estate Finance and Economics | 2007

Japanese Housing Tenure Choice and Welfare Implications after the Revision of the Tenant Protection Law

Miki Seko; Kazuto Sumita


Journal of Housing Economics | 2007

Effects of government policies on residential mobility in Japan: Income tax deduction system and the Rental Act

Miki Seko; Kazuto Sumita


Journal of Real Estate Finance and Economics | 2012

Residential Mobility Decisions in Japan: Effects of Housing Equity Constraints and Income Shocks under the Recourse Loan System

Miki Seko; Kazuto Sumita; Michio Naoi


Global Housing Markets: Crises, Policies, and Institutions | 2015

The Recent Financial Crisis and the Housing Market in Japan

Miki Seko; Kazuto Sumita; Michio Naoi


International Real Estate Review | 2010

Estimating Consumer Valuation of Earthquake Risk: Evidence from Japanese Housing Markets

Michio Naoi; Kazuto Sumita; Miki Seko


MPRA Paper | 2012

Downward-sloping term structure of lease rates: a puzzle

Miki Seko; Kazuto Sumita; Jiro Yoshida


Archive | 2008

Residential Mobility and Housing Equity in Japan

Miki Seko; Kazuto Sumita


Archive | 2010

Leverage and House-price Dynamics Under the Recourse-Loan System in Japanese Prefecures

Miki Seko; Kensuke Konno; Kazuto Sumita

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Jiro Yoshida

Pennsylvania State University

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