This paper provides the first estimate of consumption purchasing power parity (PPP) converters for 1934-36 Japan, Korea and Taiwan by matching prices of more than 50 types of goods and services with consumption weights derived from household expenditure surveys. We find that the 1934-6 average...

Characteristics of business cycles are quite different across developed countries. As Gordon (1982) pointed out, in the United States real wages and the adjustment of working hours are less flexible than in Britain and Japan. Using a business cycle model with a microeconomic foundation, this...

This paper investigates the deepening of the international division of labor and its effect on factor intensities in Japan, mainly focusing on the manufacturing sector. In the first half of the paper, we analyze factor contents of trade and find that Japan's factor content net-exports of capital...