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| Jochen Hartwig |
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| ''Further insights into 'Baumol's disease' in Japan'' |
| ( 2019, Vol. 39 No.4 ) |
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| Nishi (2018) has broken new ground in analysing whether Japan suffers from ‘Baumol's disease'. More precisely, he focuses on just one of six symptoms which Nordhaus (2008) referred to as ‘Baumol's diseases', namely on the ‘growth disease'. Nishi finds that Japan is suffering from Baumol's growth disease, although its impact is not very strong. This note aims at adding further insights into Baumol's disease in Japan by applying Nordhaus's testing strategy to the other five symptoms. Of these, the ‘cost and price disease' is most salient in Japanese data. |
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| Keywords: Structural change, productivity growth, ‘Baumol's disease', Japan, EU KLEMS data |
JEL: O4 - Economic Growth and Aggregate Productivity: General
C2 - Single Equation Models; Single Variables: General |
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| Manuscript Received : Jun 23 2019 | | Manuscript Accepted : Oct 13 2019 |
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