Kumano, Yusuke; Muto, Ichiro; Nakano, Akihiro - In: Journal of the Japanese and International Economies 34 (2014) C, pp. 135-153
By applying the structural factor analysis developed by Foerster et al. (2011), we decompose the fluctuations of Japan … half of the quarterly variations in Japan’s IP. Although the relative importance of sectoral shocks declined during the … increased volatility of Japan’s IP. Specifically, our analysis suggests that the intersectoral spillovers brought about by …