Table III Elasticity of short- and...

Table III

Elasticity of short- and long-run output supply and input demand for the Japanese manufacturing industry for selected periods

Quantity	Year	Elasticity with respect to the price of
Quantity	Year	Output	Material	Labor	Capital
Short run
Output	1973–1990	0.0220	−0.0052	−0.0001	−0.0167
	1991–2000	0.0216	−0.0052	−0.0001	−0.0163
	2001–2012	0.0212	−0.0054	−0.0001	−0.0157
	1973–2012	0.0216	−0.0053	−0.0001	−0.0163
Material	1973–1990	0.0074	0.0041	0.0000	−0.0115
	1991–2000	0.0072	0.0041	0.0000	−0.0112
	2001–2012	0.0068	0.0034	0.0000	−0.0102
	1973–2012	0.0072	0.0039	0.0000	−0.0110
Labor	1973–1990	−0.0002	0.0001	0.0000	0.0001
	1991–2000	−0.0002	0.0001	0.0000	0.0001
	2001–2012	−0.0002	0.0001	0.0000	0.0001
	1973–2012	−0.0002	0.0001	0.0000	0.0001
Capital	1973–1990	−0.0002	0.0001	0.0000	0.0001
	1991–2000	−0.0002	0.0001	0.0000	0.0001
	2001–2012	−0.0002	0.0001	0.0000	0.0001
	1973–2012	−0.0002	0.0001	0.0000	0.0001
Long run
Output	1973–1990	0.1572	−0.0713	−0.0039	−0.0821
	1991–2000	0.1540	−0.0718	−0.0037	−0.0785
	2001–2012	0.1617	−0.0792	−0.0038	−0.0788
	1973–2012	0.1578	−0.0738	−0.0038	−0.0802
Material	1973–1990	0.1369	−0.0613	−0.0033	−0.0723
	1991–2000	0.1341	−0.0618	−0.0032	−0.0691
	2001–2012	0.1406	−0.0680	−0.0033	−0.0693
	1973–2012	0.1374	−0.0635	−0.0033	−0.0706
Labor	1973–1990	0.0843	−0.0409	−0.0024	−0.0410
	1991–2000	0.0823	−0.0414	−0.0023	−0.0386
	2001–2012	0.0875	−0.0459	−0.0023	−0.0393
	1973–2012	0.0842	−0.0422	−0.0024	−0.0397
Capital	1973–1990	0.0930	−0.0455	−0.0034	−0.0441
	1991–2000	0.0916	−0.0461	−0.0032	−0.0422
	2001–2012	0.0973	−0.0512	−0.0033	−0.0429
	1973–2012	0.0933	−0.0470	−0.0034	−0.0429

Quantity	Year	Elasticity with respect to the price of
Quantity	Year	Output	Material	Labor	Capital
Short run
Output	1973–1990	0.0220	−0.0052	−0.0001	−0.0167
	1991–2000	0.0216	−0.0052	−0.0001	−0.0163
	2001–2012	0.0212	−0.0054	−0.0001	−0.0157
	1973–2012	0.0216	−0.0053	−0.0001	−0.0163
Material	1973–1990	0.0074	0.0041	0.0000	−0.0115
	1991–2000	0.0072	0.0041	0.0000	−0.0112
	2001–2012	0.0068	0.0034	0.0000	−0.0102
	1973–2012	0.0072	0.0039	0.0000	−0.0110
Labor	1973–1990	−0.0002	0.0001	0.0000	0.0001
	1991–2000	−0.0002	0.0001	0.0000	0.0001
	2001–2012	−0.0002	0.0001	0.0000	0.0001
	1973–2012	−0.0002	0.0001	0.0000	0.0001
Capital	1973–1990	−0.0002	0.0001	0.0000	0.0001
	1991–2000	−0.0002	0.0001	0.0000	0.0001
	2001–2012	−0.0002	0.0001	0.0000	0.0001
	1973–2012	−0.0002	0.0001	0.0000	0.0001
Long run
Output	1973–1990	0.1572	−0.0713	−0.0039	−0.0821
	1991–2000	0.1540	−0.0718	−0.0037	−0.0785
	2001–2012	0.1617	−0.0792	−0.0038	−0.0788
	1973–2012	0.1578	−0.0738	−0.0038	−0.0802
Material	1973–1990	0.1369	−0.0613	−0.0033	−0.0723
	1991–2000	0.1341	−0.0618	−0.0032	−0.0691
	2001–2012	0.1406	−0.0680	−0.0033	−0.0693
	1973–2012	0.1374	−0.0635	−0.0033	−0.0706
Labor	1973–1990	0.0843	−0.0409	−0.0024	−0.0410
	1991–2000	0.0823	−0.0414	−0.0023	−0.0386
	2001–2012	0.0875	−0.0459	−0.0023	−0.0393
	1973–2012	0.0842	−0.0422	−0.0024	−0.0397
Capital	1973–1990	0.0930	−0.0455	−0.0034	−0.0441
	1991–2000	0.0916	−0.0461	−0.0032	−0.0422
	2001–2012	0.0973	−0.0512	−0.0033	−0.0429
	1973–2012	0.0933	−0.0470	−0.0034	−0.0429

Sharing Unavailable