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part of the paper’s motivating evidence we also uncover a new fact: in both international and cross-state U.S. data, there …
Persistent link: https://www.econbiz.de/10011262883
. However, Japan started at a lower level than Britain and grew more slowly until the Meiji Restoration. …
Persistent link: https://www.econbiz.de/10011272718
This paper uses vector autoregressions to examine the monetary transmission mechanism in Japan. The empirical results …
Persistent link: https://www.econbiz.de/10005666763
Should one think of zero nominal interest rates as an undesirable liquidity trap or as the desirable Friedman rule? I use three different frameworks to discuss this issue. First, I restate Cole and Kocherlakota's (1998) analysis of Friedman's rule: short run increases in the money stock -...
Persistent link: https://www.econbiz.de/10005788876
. Results are presented for the United States, Japan, and an aggregate called "Europe" consisting of eleven European economies … indices for Japan and Europe. If anything, real wages in Europe and Japan were too flexible rather than too rigid, in the … sense that much of the increase in wage gap indices in Europe during 1968-70 and in Japan in 1973-74 can be interpreted as …
Persistent link: https://www.econbiz.de/10005789135
experiences of Germany and Japan during periods when their exchange rates have apparently been undervalued and the more general …
Persistent link: https://www.econbiz.de/10005791547
This paper considers the Great Inflation of the 1970s in Japan and Germany. From 1975 onward these countries had low … Japan and Germany’s monetary authorities - for example, more willingness to accept temporary unemployment, or stronger …
Persistent link: https://www.econbiz.de/10005791626
Standard estimates of earnings profiles ignore the fact that, with unobserved heterogeneity, cross-section evidence need not reflect the `true' relationship between earnings and tenure. In this paper we argue that the observation of the position filled by an employee in the firm hierarchy is...
Persistent link: https://www.econbiz.de/10005791889
called the Triad: The United States, the EU and Japan. We focus on measuring possible asymmetries in market access between …
Persistent link: https://www.econbiz.de/10005504710
Using data for the 1990s, this Paper examines the role of sheepskin effects in the returns to education for Japan. Our … the US. These results could be explained by the particular recruitment system of large firms in Japan, which makes the …
Persistent link: https://www.econbiz.de/10005656206