Dual Structure and the Macroeconomy of Japan
It goes without saying that the dual structure is a hallmark of Japan's production economy. It has attracted a great deal of attention in Japanese economic studies, especially in the historical context.>sup>1>/sup> Its theoretical underpinnings, however, do not seem to have been fully explored. In this article, we will approach the problem from the standpoint of a general equilibrium theory of economic growth. We will focus on the role which the dual structure plays in Japan's macroeconomy through a comprehensive review of price-wage and employment-output relationships. Based on this theoretical model, we will study changes which the dual structure has experienced over the last four decades.
Year of publication: |
1995
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Authors: | Sato, Kazuo |
Published in: |
Japanese Economy. - M.E. Sharpe, Inc., ISSN 1097-203X. - Vol. 23.1995, 4, p. 3-31
|
Publisher: |
M.E. Sharpe, Inc. |
Saved in:
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