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Macro Dynamics and Labor-Saving Innovation: US vs. Japan

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  • Ryuzo Sato

    (Leonard N. Stern School of Business, New York University and Faculty of Economics, University of Tokyo)

  • Tamaki Morita

    (National Graduate Institute for Policy Studies(GRIPS))

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.

Suggested Citation

  • Ryuzo Sato & Tamaki Morita, 2007. "Macro Dynamics and Labor-Saving Innovation: US vs. Japan," CIRJE F-Series CIRJE-F-528, CIRJE, Faculty of Economics, University of Tokyo.
    • Handle: RePEc:tky:fseres:2007cf528
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    References listed on IDEAS

    as
    1. Ryuzo Sato, 1996. "Growth Theory and Technical Change," Books, Edward Elgar Publishing, number 1171.
    2. Ryuzo Sato & Tamaki Morita, 2009. "Quantity Or Quality: The Impact Of Labour Saving Innovation On Us And Japanese Growth Rates, 1960–2004," The Japanese Economic Review, Japanese Economic Association, vol. 60(4), pages 407-434, December.
    3. J. R. Hicks, 1963. "The Theory of Wages," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-00189-7, December.
    4. Sato, Ryuzo & Ramachandran, Rama, 1987. "Factor Price Variation and the Hicksian Hypothesis: A Microeconomic Model," Oxford Economic Papers, Oxford University Press, vol. 39(2), pages 343-356, June.
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