This report analyzes Japan's macroeconomic data from 1960 to 2019 to explore the characteristics of Japan's business cycles and compares them with those of the United States. It points out that Japan experienced an economic miracle in the latter half of the 20th century, but the subsequent burst of the economic bubble led to prolonged economic stagnation. In the 21st century, Japan faces challenges such as an aging population, a rigid labor market, and declining innovation capacity. The Japanese government has implemented structural reform policies to increase labor market flexibility and technological innovation. Through detailed analysis of macroeconomic variables such as consumption, employment, and the internal rate of return, the report reveals their positive correlations with GDP. While the report provides an in-depth analysis of Japan's economic fluctuations, it has limitations regarding monetary policy data. Future research should focus on this aspect. Comparative analysis shows that the fluctuation characteristics of macroeconomic variables may differ across different economic cycle phases, which is crucial for devising economic policies and predicting future economic trends.

Jingzhe Fan. Analysis of Economic Stagnation Factors in Post-Bubble Japan: Lessons for Emerging Markets. Academic Journal of Business & Management (2024) Vol. 6, Issue 12: 49-57. https://doi.org/10.25236/AJBM.2024.061206.

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