Sources of Cycles in Japan, 1975-1987
48 Pages Posted: 24 Jul 2007 Last revised: 15 Oct 2022
Date Written: July 1991
Abstract
A simple real model is used to decompose movements of aggregate inventories and output in Japan during 1975 to 1987 to three components, one due to cost shocks, one due to demand shocks, and one due to' shocks from abroad. Cost shocks are estimated to account for about one tenth of the movement in GNP, one half of the movement in inventories. Most of the remaining movement in GNP is due to demand shocks, in inventories to shocks from abroad. Confidence intervals around these point estimates are, however, very large.
Suggested Citation: Suggested Citation
West, Kenneth D., Sources of Cycles in Japan, 1975-1987 (July 1991). NBER Working Paper No. w3763, Available at SSRN: https://ssrn.com/abstract=473935
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