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A Comparison of the Japanese and U.S. Business Cycles

R. Braun, Julen Esteban-Pretel, Toshihiro Okada () and Nao Sudou
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Nao Sudou: Bank of Japan and Boston University

Authors registered in the RePEc Author Service: Nao Sudo

No CIRJE-F-392, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: 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.

Pages: 40 pages
Date: 2005-12
New Economics Papers: this item is included in nep-dge, nep-mac and nep-sea
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http://www.cirje.e.u-tokyo.ac.jp/research/dp/2005/2005cf392.pdf (application/pdf)

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Journal Article: A comparison of the Japanese and U.S. business cycles (2006) Downloads
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