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Labor market fluctuations in Japan and the U.S.--how similar are they?

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  • Hesna Genay
  • Prakash Loungani

Abstract

This article examines the sources of fluctuations in Japanese and U.S. labor markets. Despite the differences in the structures of the two labor markets, the authors find that unemployment and vacancies respond similarly to aggregate shocks. However, different shocks appear to be important in explaining fluctuations in the two labor markets.

Suggested Citation

  • Hesna Genay & Prakash Loungani, 1997. "Labor market fluctuations in Japan and the U.S.--how similar are they?," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 21(May), pages 15-28.
    • Handle: RePEc:fip:fedhep:y:1997:i:may:p:15-28:n:v.21no.3
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    1. Blankenau, William & Kose, M. Ayhan, 2007. "How Different Is The Cyclical Behavior Of Home Production Across Countries?," Macroeconomic Dynamics, Cambridge University Press, vol. 11(1), pages 56-78, February.
    2. Ellen R. Rissman, 1997. "Measuring labor market turbulence," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 21(May), pages 2-14.

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    Keywords

    Labor market; Unemployment;

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