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Federal Reserve Bank of Chicago
Economic Perspectives
Labor market fluctuations in Japan and the U.S.--how similar are they?
Hesna Genay
Prakash Loungani
Abstract

This article examines the sources of fluctuations in Japanese and U.S. labor markets. Despite the differences in the structures of the two labor markets, the authors find that unemployment and vacancies respond similarly to aggregate shocks. However, different shocks appear to be important in explaining fluctuations in the two labor markets.


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Hesna Genay & Prakash Loungani, "Labor market fluctuations in Japan and the U.S.--how similar are they?" , Federal Reserve Bank of Chicago, Economic Perspectives, issue May, pages 15-28, 1997.
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Keywords: Labor market ; Unemployment
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