Labour market flexibility in Japan: 1960–2018

Masui, Makoto; Młodkowski, Paweł

doi:10.15584/nsawg.2019.4.8

Cited by 1 publication

(6 citation statements)

References 13 publications

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“…These dynamic alterations redesigned the growth mechanism at a country level. What one can observe in the post-2004 period should be attributed to the EU-integration (Młodkowski 2018). As will be revealed in the historical perspective below, similar reasons may disrupt any growth studies covering other periods in European history.…”

Section: School Of International Liberal Arts Miyazaki International Collegementioning

confidence: 96%

“…Not only diversity in unity, but also unobserved integration processes create phenomena that call for further investigation. There have been a series of focused studies, explaining pre-and post 1999 egroth patterns (Młodkowski 2018), problematic projections of economic growth (Młodkowski 2019), and anomalies that undermine prominent econometric methods, as valid tools of output studies (Młodkowski 2020). The European Union is an important player in the global economy.…”

Section: School Of International Liberal Arts Miyazaki International Collegementioning

confidence: 99%

“…As such, COVID-19, if effectively contained, will create a new economic situation due to a new labor force with different characteristics than before. This means that any former studies (Młodkowski 2018) and models (Młodkowski 2019(Młodkowski , 2020) that utilized production function to forecast economic growth in Europe will become obsolete, and outdated. The purpose of this paper is to draw attention to the fact that the transformation mechanism will be different from before, and characteristics of labor force "employed" in the production function will be different.…”

Section: School Of International Liberal Arts Miyazaki International Collegementioning

confidence: 99%

“…For the purpose of any growth-related studies, the instability presented with references to diseases, wars, and genocide should be understood and interpretted as the instability of qualitative and quantitative features. This instability becomes obvious, when compared with much more hermetic countries, like China, or Japan (Masui and Młodkowski 2019). The time series analysis delivers an image of a very stable population growth in Europe, with not much variation over the last millenium.…”

Section: School Of International Liberal Arts Miyazaki International Collegementioning

confidence: 99%

“…Due to COVID-19, one can expect substantial changes in the qualitative characteristics of the labor force employed in each national economy. According to recent studies in the field (Młodkowski (2018(Młodkowski ( , 2019(Młodkowski ( , 2020 the New Member States have supplied workforce to the Old EU since 2004. As a consequence, the population living in the New Member States has declined, and became older, as the out-going migrants were the young generation.…”

Section: International $)mentioning

confidence: 99%

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Estimating Production Function Before Covid-19 Pandemic in Europe

Młodkowski

2020

EurInsStud

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The purpose of the study is to discuss consequences of pandemic events for estimating the economic growth mechanism in the European Union. The most recent COVID-19 growing death toll has drawn the attention to impact such unexpected, but not unprecedented situations have on society and economy. In the current study the focus is on estimating economic effects of a disease, which reduces the working population. It turns out that the prominent basic production function framework may fail to deliver consistent results, when analyzing transformation of labor and capital into output in all 27-EU Member countries. This is because of asymmetric impact of COVID-19 on each individual EU-country. A historical perspective on epidemic death toll shows that Europe experienced numerous periods of a similar demographic developments. Those were individual countries, regions, or most recently the whole continent (and the world) that suffered from outbreaks of a deadly disease. The paper offers a meta-analysis, and draws from numerous sources to provide as wide as possible coverage on population-decreasing events. Due to similarity in their economic consequences, information about death toll of wars and genocide cases supplements the narration. Conclusions draw the attention to the fact that in the post-COVID-19 era any growth related studies will suffer from the lack of time series that describe the new underlying transformation mechanism that is responsible for generating the GDP at country and EU-level. The contribution of the paper is in offering a point of reference for any future studies that will try to assess pandemic effects in regard to economic growth, economies of scale or any other production function framework element.

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Section: School Of International Liberal Arts Miyazaki International Collegementioning

confidence: 96%