Miyagawa, Tsutomu; Sakuragawa, Yukie; Takizawa, Miho - Institute of Economic Research, Hitotsubashi University - 2005
Constructing thirty-seven industries database, we examines whether measured productivity in Japan is procyclical and investigates the sources of that procyclicality using the production function approach employed by Hall (1990) and Basu and Fernald (1995). At the aggregate level, the measured...