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dc.contributor.authorAgnese, Pabloen_US
dc.date.accessioned2011-06-07en_US
dc.date.accessioned2011-06-28T13:56:58Z-
dc.date.available2011-06-28T13:56:58Z-
dc.date.issued2011en_US
dc.identifier.piurn:nbn:de:101:1-201104113366en_US
dc.identifier.urihttp://hdl.handle.net/10419/46174-
dc.description.abstractThe Japanese lost decade has become an intriguing puzzle for both economists and policy-makers alike, as the unemployment rate climbed to unprecedented levels and the growth rate of productivity decreased considerably. More recent times seem to present with a more optimistic outlook, but this is not yet the last word in the matter. In this paper we estimate two alternative multi-equation structural models descriptive of the Japanese labor market, that are then used to conduct dynamic simulations both for the lost decade period (1990-2002) and beyond (2002-2007). Our results point, primarily, to the damaging effects of the ever-increasing public debt as a major source of labor market inefficiencies. In addition, we find the fall in labor union power to have a significant easing effect on the unemployment rate, but also to be a major driver in the apparently eroding pattern of the labor income share in recent years.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesDiscussion paper series // Forschungsinstitut zur Zukunft der Arbeit 5463en_US
dc.subject.jelC32en_US
dc.subject.jelE17en_US
dc.subject.jelE24en_US
dc.subject.jelJ08en_US
dc.subject.ddc330en_US
dc.subject.keywordlabor market dynamicsen_US
dc.subject.keywordstructural multi-equation modelsen_US
dc.subject.keywordchain reaction theoryen_US
dc.subject.keywordsimulationsen_US
dc.subject.stwArbeitslosigkeiten_US
dc.subject.stwArbeitsmarkten_US
dc.subject.stwArbeitsproduktivitäten_US
dc.subject.stwSchätzungen_US
dc.titleThe Japanese lost decade and beyond: A chain reaction theory approachen_US
dc.typeWorking Paperen_US
dc.identifier.ppn661583309en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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