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Macro Dynamics and Labor-Saving Innovation: US vs. Japan

In: International Trade and Economic Dynamics

Author

Listed:
  • Ryuzo Sato

    (New York University and the University of Tokyo)

  • Tamaki Morita

    (National Graduate Institute for Policy Studies (GRIPS) 7-22-1, Roppongi)

Abstract

This article deals with the empirical analysis of the economic growth of the United States and Japan from 1970 to 2005. Following our analysis in “Quantity or Quality: The Impact of Labor-Saving Innovation on US and Japanese Growth Rates, 1960–2004” (March 2007), we applied the same method to a different data series to confirm our previous findings. As with the previous work, the results shown in this chapter support our view that Japan's declining population can be compensated for by additional quality improvement of the existing labor force.

Suggested Citation

  • Ryuzo Sato & Tamaki Morita, 2009. "Macro Dynamics and Labor-Saving Innovation: US vs. Japan," Springer Books, in: Takashi Kamihigashi & Laixun Zhao (ed.), International Trade and Economic Dynamics, pages 477-495, Springer.
  • Handle: RePEc:spr:sprchp:978-3-540-78676-4_31
    DOI: 10.1007/978-3-540-78676-4_31
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    References listed on IDEAS

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    1. Ryuzo Sato & Tamaki Morita, 2009. "Quantity Or Quality: The Impact Of Labour Saving Innovation On Us And Japanese Growth Rates, 1960–2004," The Japanese Economic Review, Japanese Economic Association, vol. 60(4), pages 407-434, December.
    2. Sato, Ryuzo & Ramachandran, Rama, 1987. "Factor Price Variation and the Hicksian Hypothesis: A Microeconomic Model," Oxford Economic Papers, Oxford University Press, vol. 39(2), pages 343-356, June.
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