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There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and …, Japan and the euro area appear quite distinct. Documenting and comparing such international business-cycle features can aid …
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and Japan than in the United States. Employment contributes the largest proportion of the cycle in Europe and the United … States (but not Japan), which is inconsistent with the idea that higher levels of employment protection in Europe dampen …
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