IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

U.S. R&D and Japanese Medium Term Cycles

  • R. Anton Braun

    ()

    (Faculty of Economics, University of Tokyo)

  • Toshihiro Okada

    ()

    (School of Economics, Kwansei Gakuin University)

  • Nao Sudo

    ()

    (Institute for Monetary and Economics Studies, Bank of Japan)

Between 1960 and 1990 Japanese labor productivity rose from 27 percent of the U.S. to 87 percent. These productivity gains are associated with large variations in Japanese TFP. We find that movements in Japanese TFP are associated with prior movements in U.S. R&D expenditures. Model simulations that isolate the contribution of U.S. R&D to Japanese TFP reproduce the most important swings in Japanese economic activity between 1960 and 2002.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://192.218.163.163/RePEc/pdf/kgdp43.pdf
File Function: First version, 2008
Download Restriction: no

Paper provided by School of Economics, Kwansei Gakuin University in its series Discussion Paper Series with number 43.

as
in new window

Length: 39 pages
Date of creation: Oct 2008
Date of revision: Oct 2008
Handle: RePEc:kgu:wpaper:43
Contact details of provider: Postal: 1-155 Uegahara Ichiban-cho, Nishinomiya, Hyogo 662-8501
Phone: +81-(0)798-546496
Fax: +81-(0)798-510944
Web page: http://www-econ.kwansei.ac.jp/~econ/index_e.html

More information through EDIRC

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.:

as in new window
  1. David T. Coe & Elhanan Helpman, 1993. "International R&D Spillovers," NBER Working Papers 4444, National Bureau of Economic Research, Inc.
  2. R. Anton Braun & Daisuke Ikeda & Douglas H. Joines, 2005. "Saving and Interest Rates in Japan: Why They Have Fallen and Why They Will Remain Low," CIRJE F-Series CIRJE-F-328, CIRJE, Faculty of Economics, University of Tokyo.
  3. Benigno, Pierpaolo & Woodford, Michael, 2004. "Optimal monetary and fiscal policy: a linear-quadratic approach," Working Paper Series 0345, European Central Bank.
  4. Diego Comin, 2004. "R&D: A Small Contribution to Productivity Growth," Journal of Economic Growth, Springer, vol. 9(4), pages 391-421, December.
  5. R. Anton Braun & Yuichiro Waki, 2005. "Monetary Policy during Japan's Lost Decade," CIRJE F-Series CIRJE-F-343, CIRJE, Faculty of Economics, University of Tokyo.
  6. Wolfgang Keller, 2002. "Geographic Localization of International Technology Diffusion," American Economic Review, American Economic Association, vol. 92(1), pages 120-142, March.
  7. Inklaar, Robert & Wu, Harry & Ark, Bart van, 2003. ""Losing ground" : Japanese labour productivity and unit laboour cost manufacturing in comparison to the U.S," GGDC Research Memorandum 200364, Groningen Growth and Development Centre, University of Groningen.
  8. Diego Comin & Mark Gertler, 2006. "Medium-Term Business Cycles," American Economic Review, American Economic Association, vol. 96(3), pages 523-551, June.
  9. Bernstein, Jeffrey I. & Mohnen, Pierre, 1994. "International R&D Spillovers Between U.S. and Japanese R&D Intensive Sectors," Working Papers 94-20, C.V. Starr Center for Applied Economics, New York University.
  10. Fumio Hayashi & Edward C. Prescott, 2000. "The 1990s in Japan: a lost decade," Working Papers 607, Federal Reserve Bank of Minneapolis.
  11. Fumio Hayashi & Edward C. Prescott, 2002. "Data Appendix to The 1990s in Japan: A Lost Decade," Technical Appendices hayashi02, Review of Economic Dynamics.
  12. Poole, William, 1970. "Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model," The Quarterly Journal of Economics, MIT Press, vol. 84(2), pages 197-216, May.
  13. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-84, August.
  14. Lawrence J. Christiano & Terry J. Fitzgerald, 2003. "The Band Pass Filter," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(2), pages 435-465, 05.
  15. Gauti B. Eggertsson & Michael Woodford, 2006. "Optimal Monetary and Fiscal Policy in a Liquidity Trap," NBER Chapters, in: NBER International Seminar on Macroeconomics 2004, pages 75-144 National Bureau of Economic Research, Inc.
  16. Peter Howitt, 2000. "Endogenous Growth and Cross-Country Income Differences," American Economic Review, American Economic Association, vol. 90(4), pages 829-846, September.
  17. Hugo A. Hopenhayn & Francesco Squintani, 2011. "Preemption Games with Private Information," Review of Economic Studies, Oxford University Press, vol. 78(2), pages 667-692.
  18. Klenow, Peter J. & Rodriguez-Clare, Andres, 2005. "Externalities and Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 11, pages 817-861 Elsevier.
  19. Okada Toshihiro, 2006. "What Does the Solow Model Tell Us about Economic Growth?," The B.E. Journal of Macroeconomics, De Gruyter, vol. 6(1), pages 1-30, April.
  20. Takatoshi Ito & Frederic S. Mishkin, 2004. "Two Decades of Japanese Monetary Policy and the Deflation Problem," NBER Working Papers 10878, National Bureau of Economic Research, Inc.
  21. Dale Jorgenson & Koji Nomura, 2004. "Information Technology and the Japanese Growth Recovery," NBER Chapters, in: Enhancing Productivity (NBER-CEPR-TCER-Keio conference) National Bureau of Economic Research, Inc.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:kgu:wpaper:43. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Toshihiro Okada)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.