R. Anton Braun (Faculty of Economics, University of Tokyo) Julen Esteban-Pretel (Faculty of Economics, University of Tokyo) Toshihiro Okada (School of Economics, Kwansei Gakuin University) Nao Sudou (Bank of Japan and Boston University)
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The paper constructs a consistent set of quarterly Japanese data for the 1960-2002 sample period and compares properties of the Japanese and U.S. business cycles. We document some important differences in the adjustment of labor input between the two countries. In Japan most most of the adjustment is in hours per worker of males and females and also in employment of female. In the U.S. most of the adjustment is in employment of both males and females. We formulate, estimate and analyze a model that makes distinction between the intensive and extensive margin and allows for gender differences in labor supply. A weak empirical correlation between hours per worker and employment in Japanese data is a puzzle for our theory.
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Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number
CIRJE-F-392.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2002.
"Business cycle accounting,"
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625, Federal Reserve Bank of Minneapolis.
Other versions:
V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2006.
"Business cycle accounting,"
Staff Report
328, Federal Reserve Bank of Minneapolis.
[Downloadable!]
V.V. Chari & Patrick J. Kehoe & Ellen McGrattan, 2004.
"Business Cycle Accounting,"
NBER Working Papers
10351, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2007.
"Business Cycle Accounting,"
Econometrica,
Econometric Society, vol. 75(3), pages 781-836, 05.
[Downloadable!] (restricted)
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