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- W3151086246 abstract "In the early 1950s, rationalization, i.e. renovation and modernization of industrial equipments became the focus of the industrial policy as well as the corporate strategy. In this paper, I explored its historical background and implication. Estimating the vintage of capital stock from 1916 to 1964, I found that the wave of investment during the war brought about a sharp spike in the time-series of the vintage. At the same time, equipment-level vintage data on the iron and steel industry indicate that the vintage distribution in 1949 had a spike reflecting the wartime investment wave. Industrial rationalization can be interpreted as a measure to prevent a potential surge of the average vintage due to the vintage spike caused by the wartime investment wave. Through an analysis of establishment-level data of steel-making, it was confirmed that increase of the vintage gave a substantial negative impact on labor productivity." @default.
- W3151086246 created "2021-04-13" @default.
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- W3151086246 date "2008-01-01" @default.
- W3151086246 modified "2023-09-23" @default.
- W3151086246 title "Investment Wave, Vintage Spike and Productivity: Rethinking Industrial Rationalization in Postwar Japan(in Japanese)" @default.
- W3151086246 hasPublicationYear "2008" @default.
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