Lack of exercise, which increases the risk of many serious physical and mental illness, has been a common health issue in Japan. Recent studies confirm that financial literacy discourages irrational behavior like gambling and smoking. We therefore investigate how financial literacy, as a rational decision-making instrument, relates to peoples’ exercise behavior in Japan. We hypothesize that financial literacy encourages people to exercise regularly. Using Osaka University’s Preference Parameters Study (PPS) for 2010, we categorized respondents into two groups: those who exercise regularly or at least once a week and those who do not. Our probit estimation results show that financial literacy is positively related with exercise behavior, meaning that financially literate people are more likely to exercise regularly. As the COVID-19 health pandemic seems to exacerbate peoples’ physical inactivity, the results of our study show an alternative approach to encourage exercise. We therefore recommend that governments implement a financial literacy improvement policy to alleviate the lack of exercise.

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Direct modulation at 56 and 50 Gb/s of 1.3-µm InGaAlAs ridge-shaped-buried heterostructure (RS-BH) asymmetric corrugation-pitch-modulation (ACPM) distributed feedback lasers is experimentally demonstrated. The fabricated lasers have a low threshold current (5.6 mA at 85°C), high temperature characteristics (71 K), high slope relaxation frequency (3.2 GHz/mA 1/2 at 85°C), and wide bandwidth (22.1 GHz at 85°C). These superior properties enable the lasers to run at 56 Gb/s and 55°C and 50 Gb/s at up to 80°C for backto-back operation with clear eye openings. This is achieved by the combination of a low-leakage RS-BH and an ACPM grating. Moreover, successful transmission of 56-and 50-Gb/s modulated signals over a 10-km standard single-mode fiber is achieved. These results confirm the suitability of this type of laser for use as a cost-effective light source in 400 GbE and OTU5 applications. IndexTerms-Buried heterostructure, distributed feedback (DFB) lasers, quantum well lasers.

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