Regional business cycle phases in Japan.(Report)
From: Federal Reserve Bank of St. Louis Review
|
Date: 1/1/2007
|
Author: Wall, Howard J.
This paper uses a Markov-switching model with structural breaks to characterize and compare regional business cycles in Japan for the period 1976-2005. An early-1990s structural break meant a reduction in national and regional growth rates in expansion and recession, usually resulting in an increase in the spread between the two phases. Although recessions tended to be experienced across a majority of regions throughout the sample period, the occurrence and lengths of recessions at ...
COPYRIGHT 2007 Federal Reserve Bank of St. Louis
This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
For permission to reuse this article, contact Copyright Clearance Center.