Price Dynamics in Japan (1981-2001): a Structural Analysis of Mechanisms in the Goods and Labor Markets
Nicolas Canry
- Fonction : Auteur
- PersonId : 12633
- IdHAL : nicolas-canry
- ORCID : 0000-0002-2269-7940
- IdRef : 087500183
Julien Fouquau
- Fonction : Auteur
- PersonId : 839309
Résumé
In this paper, we focus on the real dimension of the price dynamics in Japan between 1980 and 2000. We use a panel industry dataset to analyze the impact of institutional and structural factors on the heterogeneous price dynamics of 10 manufacturing sectors. Although the evolution of unit labor costs seems to be the driving force, our structural analysis underlines the importance of the increasingly competitive environment, as captured by rising import penetration. Along with the decline of bargaining power of the workforce, this is at the origin of the deflationary pressures that characterized the Japanese economy during the Lost Decade.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Price Dynamics in Japan (1981-2001): a Structural Analysis of Mechanisms in the Goods and Labor Markets
|
Résumé |
en
In this paper, we focus on the real dimension of the price dynamics in Japan between 1980 and 2000. We use a panel industry dataset to analyze the impact of institutional and structural factors on the heterogeneous price dynamics of 10 manufacturing sectors. Although the evolution of unit labor costs seems to be the driving force, our structural analysis underlines the importance of the increasingly competitive environment, as captured by rising import penetration. Along with the decline of bargaining power of the workforce, this is at the origin of the deflationary pressures that characterized the Japanese economy during the Lost Decade.
|
Auteur(s) |
Nicolas Canry
1
, Julien Fouquau
2, 3
, Sébastien Lechevalier
4
1
CES -
Centre d'économie de la Sorbonne
( 15080 )
- Maison des Sciences Économiques - 106-112 Boulevard de l'Hôpital - 75647 Paris Cedex 13
- France
2
LEO -
Laboratoire d'économie d'Orleans [2008-2011]
( 1724 )
- Université d'Orléans - UFR Droit Économie Gestion - Rue de Blois - BP 26739 - 45067 ORLEANS CEDEX 2
- France
3
Pôle Finance Responsable - Rouen Business School
( 135007 )
- 1, rue du Maréchal Juin Boulevard André Siegfried 76130 Mont-Saint-Aignan
- France
4
CCJ -
Chine, Corée, Japon
( 24516 )
- EHESS 190 avenue de France 75244 Paris cedex 13
- France
|
Nom de la revue |
|
Date de production/écriture |
2010
|
Audience |
Nationale
|
Date de publication |
2010
|
Volume |
53
|
Numéro |
3-4
|
Page/Identifiant |
357-374
|
Comité de lecture |
Oui
|
Vulgarisation |
Non
|
Langue du document |
Anglais
|
Mots-clés (JEL) |
|
Domaine(s) |
|
Mots-clés |
en
Deflation, Japanese Economy, Wage Bargaining, Markup, Panel Regression
|
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