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dc.contributor.authorOtsu, Keisukeen_US
dc.date.accessioned2011-05-04en_US
dc.date.accessioned2011-10-21T16:52:47Z-
dc.date.available2011-10-21T16:52:47Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/50579-
dc.description.abstractThe Japanese business cycle from 1980-2007 portrays less contemporaneous correlation of labor with output than in the US and also tends to lead output by one quarter. A canonical real business cycle model cannot account for these facts. This paper uses the business cycle accounting method a la Chari, Kehoe and McGrattan (2007) and shows that efficiency and labor market distortions are important in accounting for the quarterly business cycle fluctuation patterns in Japan. Fiscal and monetary variables such as labor income tax, money growth and interest rates cannot fully account for the distortions in the Japanese labor market.en_US
dc.language.isoengen_US
dc.publisherUniv. of Kent, School of Economics Canterburyen_US
dc.relation.ispartofseriesSchool of Economics discussion papers 11,06en_US
dc.subject.jelE13en_US
dc.subject.jelE32en_US
dc.subject.ddc330en_US
dc.subject.keywordbusiness cycle accountingen_US
dc.subject.keywordJapanese labor marketen_US
dc.titleAccounting for Japanese business cycles: A quest for labor wedgesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn657099775en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:School of Economics Discussion Papers, University of Kent

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