Dynamics of probabilistic labor markets: statistical physics perspective
AbstractWe introduce a toy probabilistic model to analyze job-matching processes in recent Japanese labor markets for university graduates by means of statistical physics. We show that the aggregation probability of each company is rewritten by means of non-linear map under several conditions. Mathematical treatment of the map enables us to discuss the condition on which the rankings of arbitrary two companies are reversed during the dynamics. The so-called `mismatch' between students and companies is discussed from both empirical and theoretical viewpoints.
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Bibliographic InfoPaper provided by arXiv.org in its series Papers with number 1309.5158.
Date of creation: Sep 2013
Date of revision:
Publication status: Published in Lecture Notes in Economics and Mathematical Systems, Vol. 662, pp. 53-64, "Managing Market Complexity", Springer (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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- Casares, Miguel & Moreno, Antonio & Vázquez Pérez, Jesús, 2012.
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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 01/12, School of Economics and Business Administration, University of Navarra.
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