Quantity or Quality: The Impact of Labor-Saving Innovation on US and Japanese Growth Rates, 1960-2004

Ryuzo Sato and Tamaki Morita
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Ryuzo Sato: The Center for Japan-US Business and Economic Studies, New York University and Faculty of Economis, University of Tokyo

No CIRJE-F-483, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: This article deals with both theoretical and empirical analyses of the post-war period (1960-2004) for the United States and Japan. We investigated three factors contributing to growth: the growth rates of capital, labor, and labor-saving innovation. It is shown that in Japan, the growth rate of the labor force has been much less important than its quality improvement-i.e., labor-saving technical change-while in the US, the growth rate of labor and population has contributed more than their quality improvement. The policy implication here is Japan's declining population can be compensated for by additional quality improvement of the existing labor force.

Pages: 48 pages
Date: 2007-03
New Economics Papers: this item is included in nep-cse, nep-his and nep-mac
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Citations: View citations in EconPapers (1)

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http://www.cirje.e.u-tokyo.ac.jp/research/dp/2007/2007cf483.pdf (application/pdf)

Related works:
Journal Article: QUANTITY OR QUALITY: THE IMPACT OF LABOUR SAVING INNOVATION ON US AND JAPANESE GROWTH RATES, 1960–2004* (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:tky:fseres:2007cf483

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