Do technology shocks lower hours worked? – Evidence from Japanese industry level data |
| |
| Institution: | 1. Aoyama Gakuin University, 4-4-25 Shibuya, Shibuya-ku, Tokyo 150-8366, Japan;2. Nihon University, 1-3-2 Misaki-cho, Chiyoda-ku, Tokyo 102-8360, Japan;1. Department of Psychiatry, Korea University Ansan Hospital, Korea University College of Medicine, Ansan, Korea;2. Department of Psychiatry, University of Toronto, Ontario, Canada;3. Mood Disorders Psychopharmacology Unit, University Health Network, Toronto, Ontario, Canada;4. Cohort Team, Total Healthcare Center, Kangbuk Samsung Hospital, Sungkyunkwan University, School of medicine, Seoul, Korea;5. Departments of Preventive Medicine, School of Medicine, Kyung Hee University, Seoul, Korea;6. Department of Pharmacology, University of Toronto, Ontario, Canada;7. Department of Supportive Care, Princess Margaret Cancer Centre, University Health Network, Toronto, Ontario, Canada;8. Total Healthcare Center, Kangbuk Samsung Hospital, Sungkyunkwan University, School of medicine, Seoul, Korea;1. Graduate School of Economics, Kobe University, 2-1 Rokkodai, Nada-Ku, Kobe 657-8501, Japan;2. Faculty of Economics, Kobe University, 2-1 Rokkodai, Nada-Ku, Kobe 657-8501, Japan |
| |
| Abstract: | We examine the response of productivity and hours worked to technology and nontechnology shocks using the Japan Industrial Productivity (JIP) Database. We find that, at the aggregate level, positive technology shocks increase hours worked both in the manufacturing and the nonmanufacturing sector, accounting for a large fraction in the variances of hours worked. At the two- and three-digit industry levels, in contrast, we find that the correlation between productivity and hours worked in response to sectoral technology shocks tends to be negative. Further, we find that neither aggregate nor sectoral technology shocks appear to be the dominant factor underlying fluctuations in hours worked at the disaggregate level. The productivity decline in response to nontechnology shocks is not related to a permanent change in the relative size of industries. |
| |
| Keywords: | Technology shocks Composition shocks Hours worked Japanese economy VAR |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
