Increasing Returns, Labour Utilization and Externalities: Procyclical Productivity in the United States and Japan
AbstractThis paper investigates procyclical productivity and attempts to discriminate among several competing explanations. The study focuses on the United States and Japan, since the different industrial relations in these two economies serve to cast a sharper light on the procyclical productivity debate. Labour hoarding, evaluated through the introduction of a labour utilization proxy, proves to be an important influence. The interpretation of the role of external economies remains an open issue. Copyright 2000 by The London School of Economics and Political Science
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Bibliographic InfoArticle provided by London School of Economics and Political Science in its journal Economica.
Volume (Year): 67 (2000)
Issue (Month): 266 (May)
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- Tsutomu Miyagawa & Yukie Sakuragawa & Miho Takizawa, 2005. "Productivity and the Business Cycle in Japan -Evidence from Japanese Industry Data -," Discussion papers 05022, Research Institute of Economy, Trade and Industry (RIETI).
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- Robert A. Hart & J Malley (University of Glasgow), 1996. "Labor Productivity and the Cycle," Working Papers 9613, Business School - Economics, University of Glasgow.
- Maurice Obstfeld, 2009. "Time of Troubles: The Yen and Japan's Economy, 1985-2008," NBER Working Papers 14816, National Bureau of Economic Research, Inc.
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