This paper measures human capital development in the Japanese workforce after WWII. An increase in workers years of schooling is believed to have aided Japans economic growth after WWII. The development of human capital has acquired increasing importance for Japans future economic growth given...

What is the driving force of the macroeconomic fluctuations in Japan over the past forty years? To answer this question, we specify a structural vectorerror-correction model using combination of long-run and short-run restrictions. Especially by dividing the supply shocks such as neutral and...