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Accounting for the economic relationship between Japan and the Asian Tigers

Otsu, Keisuke (2016) Accounting for the economic relationship between Japan and the Asian Tigers. Journal of The Japanese and International Economies, 41 . pp. 57-68. ISSN 0889-1583. (doi:10.1016/j.jjie.2016.06.001) (KAR id:44637)

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http://dx.doi.org/10.1016/j.jjie.2016.06.001

Abstract

This paper applies the business cycle accounting method of Chari, Kehoe and McGrattan (2007) to a two-country, two-good model based on Backus, Kehoe and Kydland (1994) to investigate the economic relationship between Japan and the Asian Tigers from 1980Q1 to 2008Q2. We find that the main driver of long-run shifts and short-run fluctuations in output in each economy is domestic production efficiency. Furthermore, the recent increase in the cross-country business cycle correlation between the two can be attributed to an increase in the cross-country correlation of production efficiencies.

Item Type: Article
DOI/Identification number: 10.1016/j.jjie.2016.06.001
Uncontrolled keywords: International business cycles; Business cycle accounting; Productivity
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: K. Otsu
Date Deposited: 15 Nov 2014 21:43 UTC
Last Modified: 29 May 2019 13:31 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/44637 (The current URI for this page, for reference purposes)
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