JAPAN'S ECONOMIC GROWTH AND FLUCTUATIONS IN THE 197'S:A PERSPECTIVE ON RESOURCE ALLOCATION EFFICIENCY(in Japanese)

Ayano Sato

ESRI Discussion paper series from Economic and Social Research Institute (ESRI)

Abstract: During the 1970 's, Japan's economy attained sustainable growth and experienced considerable economic fluctuations, including the two Oil Shocks. There are various arguments on what caused the growth and fluctuations, but few attempts have been made to analyze them based on a neo-classical growth model. In the paper we explore how the economy was affected by disturbances in the prices of labor and capital, and by the change of total factor productivity, based on the idea of a neo-classical growth model.

Pages: 31 pages
Date: 2005-06
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Persistent link: https://EconPapers.repec.org/RePEc:esj:esridp:145

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