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Japan's Bubble, Deflation, and Long-term Stagnation$
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Koichi Hamada, Anil K Kashyap, and David E. Weinstein

Print publication date: 2010

Print ISBN-13: 9780262014892

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262014892.001.0001

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An Exploration of the Japanese Slowdown during the 1990s

An Exploration of the Japanese Slowdown during the 1990s

(p.374) (p.375) 11 An Exploration of the Japanese Slowdown during the 1990s
Japan's Bubble, Deflation, and Long-term Stagnation

Diego Comin

The MIT Press

This chapter examines medium-term movements in Japanese productivity using a real business cycle model that accounts for the role of technology adoption in driving economic growth, and looks at the wage markup fluctuations were observed in Japan during the 1990s in relation to productivity slowdown. It discusses research and development expenditures and the speed of diffusion of new technologies, along with the evolution of output, consumption, investment, total factor productivity, and hours worked in Japan during the lost decade, especially up to 1998.

Keywords:   productivity, business cycle model, technology adoption, economic growth, wage markup fluctuations, Japan, research and development, consumption, investment, total factor productivity

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