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This chapter presents the major results of a comparative study of productivity growth in manufacturing in Japan and the … United States conducted by the authors at the Bureau of Labor Statistics. Japan was chosen for the comparison because the … growth of productivity there has been extraordinary despite a less than favorable economic environment and because the U …
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This study investigated temporal changes in factor adjustment of the Japanese manufacturing industry by applying a dynamic factor model, in which labor and capital were quasi-fixed to a panel of industries from 1972 to 2012. Estimations show that the adjustment speeds, with which factors...
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