Category: Economy, Think Tank, Wages & Income

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

3 Responses to “The Role of Total Hours Worked in Japan’s (Lack of) GDP Growth”

  1. ellen1910 says:

    “Policy conclusions”? What policy conclusions?

    When you have an overindebted economy which you refuse to clean up, you get a moribund economy. And when you’ve got a moribund economy, there’s less demand for labor — employees or hours or both. And when you have the vestiges of a life-time employment culture, you wind up with work-sharing and reduced hours.

    The only policy conclusion for transference to the U.S. is that we should have cleaned up our banks (put a pusillanimous FASB out of its misery in March 2009) and increased the federal deficit, massively, thereafter.

    • SkepticalOx says:

      That’s one way to look at it.

      Or you could also say things like: maintain and institute policies that are pro-population growth, especially in younger demographics. This could mean relaxing immigration rules for young professionals who want to move here (unlike Japan’s closed immigration policy). This could mean giving incentives for people to have children.

      There’s also a bunch of other incentives and disincentives in relation to welfare programs, tax rates, incentives to hire, etc. etc…

  2. jm says:

    Japanese workers were forced to put in _many_ hours of unpaid overtime — ten or more hours per week is not unusual — and with the worsening economic situation this has undoubtedly increased.

    And, of course, as in the US, many salaried workers are “exempt” and don’t log working hours at all.

    Officially reported work-hours statistics are especially meaningless with respect to Japan.

    I seriously doubt that the Fed researcher(s) who wrote this paper are even dimly aware of such things.