Increasing returns versus externalities: pro-cyclical productivity in US and Japan
Vecchi, Michela (2000) Increasing returns versus externalities: pro-cyclical productivity in US and Japan. Economica, 67 (266). pp. 229-244. ISSN 0013-0427
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This paper investigates procyclical productivity and attempts to discriminate among several competing explanations. The study focuses on the United States and Japan, since the different industrial relations in these two economies serve to cast a sharper light on the procyclical productivity debate. Labour hoarding, evaluated through the introduction of a labour utilization proxy, proves to be an important influence. The interpretation of the role of external economies remains an open issue.
|Research Areas:||Middlesex University Schools and Centres > Business School|
|Deposited On:||13 Mar 2009 17:09|
|Last Modified:||03 Dec 2014 15:00|
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