CIRJE-F-528	"Macro Dynamics and Labor-Saving Innovation: US vs. Japan"
Author Name	Sato, Ryuzo and Tamaki Morita
Date	November 2007
Full Paper	PDF file
Remarks	Subsequently published in International Trade and Economic Dynamics: Essays in Memory of Koji Shimomura, T. Kamihigashi and L. Zhao (eds.), Springer-Verlag Berlin Heidelberg, pp. 477-495.

Abstract

This article deals with the empirical analyses of the growth for the United States and Japan from 1970 to 2005. Following our analysis in "Quantity or Quality: The Impact of Labor-saving Innovation on US and Japanese Growth Rates, 1960-2004" (March 2007), we applied the same method to a different data series in order to confirm our previous findings. As with the previous paper, the results shown in this paper support our view that Japan's declining population can be compensated for by additional quality improvement of the existing labor force.