A Comparative Analysis of Intertemporal Behavior of Profits: Japan and the United States
AbstractThis paper first asks whether the working of market forces in Japanese manufacturing industries is unique to them or similar to U.S. counterparts. It is found that autoregressive profit equations for 376 Japanese firms over 1964-82 are on average similar to those for 413 U.S. firms over 1964-80. The paper next asks whether the interindustry pattern of profit adjustments in Japan is related to industry traits in a manner analogous to the United States. In this case, specific national differences between the two countries in the effects of imports, industry growth, and capital intensity on the profit-adjustment process are found. Copyright 1989 by Blackwell Publishing Ltd.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Industrial Economics.
Volume (Year): 37 (1989)
Issue (Month): 4 (June)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821
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- Hiroshi Ono & Takuya Nakazato & Colin Davis & Wilson Alley, 2004. "Partial ownership arrangements in the Japanese automobile industry; 1990-2000," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 355-367, November.
- Eklund, Johan & Wiberg, Daniel, 2007. "Persistence of profits and the systematic search for knowledge - R&D links to firm above-norm profits," Working Paper Series in Economics and Institutions of Innovation 85, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
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