Statistical Mechanics of Labor Markets
AbstractWe introduce a probabilistic model of labor markets for university graduates, in particular, in Japan. To make a model of the market efficiently, we take into account several hypotheses. Namely, each company fixes the (business year independent) number of opening positions for newcomers. The ability of gathering newcomers depends on the result of job matching process in past business years. This fact means that the ability of the company is weaken if the company did not make their quota or the company gathered applicants too much over the quota. All university graduates who are looking for their jobs can access the public information about the ranking of companies. Assuming the above essential key points, we construct the local energy function of each company and describe the probability that an arbitrary company gets students at each business year by a Boltzmann-Gibbs distribution. We evaluate the relevant physical quantities such as the employment rate. We find that the system undergoes a sort of `phase transition' from the `good employment phase' to `poor employment phase' when one controls the degree of importance for the ranking.
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Bibliographic InfoPaper provided by arXiv.org in its series Papers with number 1309.5156.
Date of creation: Sep 2013
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Publication status: Published in Econophysics of systemic risk and network dynamics, New Economic Windows 2013, Springer-Verlag (Italy, Milan), pp. 157-171 (2012)
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Web page: http://arxiv.org/
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-09-25 (All new papers)
- NEP-LAM-2013-09-25 (Central & South America)
- NEP-LTV-2013-09-25 (Unemployment, Inequality & Poverty)
- NEP-NEU-2013-09-25 (Neuroeconomics)
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- Miguel Casares & Antonio Moreno & Jesús Vázquez, 2012.
"An Estimated New-Keynesian Model with Unemployment as Excess Supply of Labor,"
Faculty Working Papers, School of Economics and Business Administration, University of Navarra
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- Miguel Casares & Antonio Moreno & Jesús Vázquez, 2010. "An Estimated New-Keynesian Model with Unemployment as Excess Supply of Labor," Documentos de Trabajo - Lan Gaiak Departamento de EconomÃa - Universidad PÃºblica de Navarra, Departamento de EconomÃa - Universidad PÃºblica de Navarra 1003, Departamento de Economía - Universidad Pública de Navarra.
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