The rapidly aging populations of many developed countries--most notably Japan and member countries of the European Union--present obvious problems for the public pension plans of these countries. Not only will there be disproportionately fewer workers making pension contributions than there are...

We estimate the rate of total factor productivity growth in Indian manufacturing industry for the period 1973-1992, and compare the results to those obtained by Young for the East Asian Tigers. We then interpret our results in light of Krugman's hypothesis that, because the Asian Miracle was...

We provide a comprehensive overview of codetermination, i.e., worker representation in firms' governance and management. We cover the institution's history, implementation, and the best available evidence on its economic impacts. We argue that existing quasiexperimental estimates suggest that...

We study the productivity-pay relationship in the United States and Canada along two dimensions. The first is divergence: the degree to which the levels of productivity and pay have diverged. The second is delinkage: the degree to which incremental increases in the rate of productivity growth...

This paper studies the dynamic behavior of changes in productivity, wages, and prices. Results are based on a new data set that allows a consistent analysis of the aggregate economy, the manufacturing sector, and the nonmanufacturing sector. Results are presented for the U. S., Japan, and an...

Real exchange rates between the yen and dollar based on general price indexes overestimate the competitiveness of the United States relative to Japan. High productivity growth in the traded sector of the Japanese economy results in a continuous fall in the prices of traded goods relative to...

This paper presents a comparative analysis of productivity growth in the U.S. and Japanese electrical machinery industries in the postwar period. This industry has experienced rapid growth in output and productivity and high rates of capital formation in both countries. A substantial amount of...

In this paper we employ a recently proposed procedure (Dlewert and Morrison[1985]) for adjusting real domestic product and productivity for changes in a country's terms of trade. We apply this procedure to a comparison of two major industrialized countries, the U.S. and Japan. The approach is...

We compute rates of growth in labor productivity during the 1973-80 period for samples of individual manufacturing firms, in both Japan and the U.S., and relate them to differences in the rates of growth in their capital-labor ratios and in their intensities of R&D effort. Japanese firms spent...

It has often been asserted that imposition of environmental regulations in the 1970's may be a partial explanation for the productivity growth slowdowns experienced by most industrialized countries during that decade.The contention is that expenses incurred to satisfy these regulations, such as...