Miyagawa, Tsutomu; Sakuragawa, Yukie; Takizawa, Miho - Institute of Economic Research, Hitotsubashi University - 2005
Constructing thirty-seven industries database, we examines whether measured productivity in Japan is procyclical and … investigates the sources of that procyclicality using the production function approach employed by Hall (1990) and Basu and Fernald … we consider labor hoarding, part-time employment, and the adjustment cost of investment. The results suggest policies to …