TY  - JOUR
AU  - West,Kenneth D.
TI  - Sources of Cycles in Japan, 1975-1987
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3763
PY  - 1991
Y2  - July 1991
UR  - http://www.nber.org/papers/w3763
L1  - http://www.nber.org/papers/w3763.pdf
N1  - Author contact info:
Kenneth D. West
Department of Economics
University of Wisconsin
1180 Observatory Drive
Madison, WI  53706
Tel: 608/262-0033
Fax: 608/262-2033
E-Mail: kdwest@wisc.edu
AB  - A simple real model is used to decompose movements of aggregate inventories and output in Japan during 1975 to 1987 to three components, one due to cost shocks, one due to demand shocks, and one due to' shocks from abroad. Cost shocks are estimated to account for about one tenth of the movement in GNP, one half of the movement in inventories. Most of the remaining movement in GNP is due to demand shocks, in inventories to shocks from abroad. Confidence intervals around these point estimates are, however, very large.
ER  -