Kobayashi, Keiichiro; Inaba, Masaru - Society for Economic Dynamics - SED - 2006
We conducted business cycle accounting (BCA) using the method developed by Chari, Kehoe, and McGrattan (2002a) on data from the 1980s--1990s in Japan and from the interwar period in Japan and the United States. The contribution of this paper is twofold. First, we find that labor wedges may have...
