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A Neoclassical Analysis of the Postwar Japanese Economy

Otsu, Keisuke (2009) A Neoclassical Analysis of the Postwar Japanese Economy. B.E. Journal of Macroeconomics, 9 (1). ISSN 1935-1690. (doi:10.2202/1935-1690.1769) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:40544)

The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. (Contact us about this Publication)
Official URL
http://dx.doi.org/10.2202/1935-1690.1769

Abstract

Two key features of the postwar Japanese economy are the rapid economic growth during the 1960's and early 70's and the decline in labor supply during the rapid growth period. Taking the capital stock destruction and total factor productivity (TFP) as given, a standard neoclassical optimal growth model can account for the growth patterns of postwar Japanese capital stock, output, consumption, and investment. The decline in labor during the rapid growth period can be attributed to an income effect that occurs as household consumption rises above its subsistence level in this period.

Item Type: Article
DOI/Identification number: 10.2202/1935-1690.1769
Additional information: number of additional authors: 0; article number: 20;
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: Stewart Brownrigg
Date Deposited: 07 Mar 2014 00:05 UTC
Last Modified: 29 May 2019 12:26 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/40544 (The current URI for this page, for reference purposes)
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