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Working Paper 2006-053A Search | View by Year | View by Category | View by Author "Regional Business Cycle Phases in Japan" This paper uses a Markov-switching model with structural breaks to characterize and compare regional business cycles in Japan for 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 the regional level have increased over time. Full Text - Acrobat PDF (665k) Notify Me of Updates for: |
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