The intranational business cycle in Japan

Michael Artis, Toshihiro Okuboy

研究成果: Article査読

11 被引用数 (Scopus)

抄録

This paper studies the intranational business cycle-that is the set of regional (prefectural) business cycles-in Japan. One reason for choosing to examine the Japanese case is that long time series of relatively detailed data are available. A Hodrick-Prescott filter is applied to identify cycles in annual data from 1955 to 1995 and bilateral cross-correlations of prefectural GDPs are calculated for all pairs of prefectures, in our results we find fairly high cross-correlations. The paper then turns to an econometric explanation of the cross-correlation coefficients in the augmented gravity model framework. Two prefectures with similar GDPs and a shorter distance between them lead to business cycle synchronization whilst those with larger regional gaps in factor endowments (capital, labour, and human capital) result in more idiosyncratic business cycle.

本文言語English
論文番号gpq022
ページ(範囲)111-133
ページ数23
ジャーナルOxford Economic Papers
63
1
DOI
出版ステータスPublished - 2011 1
外部発表はい

ASJC Scopus subject areas

  • 経済学、計量経済学

フィンガープリント

「The intranational business cycle in Japan」の研究トピックを掘り下げます。これらがまとまってユニークなフィンガープリントを構成します。

引用スタイル