Vacancy Size and Offered Wage: A Source of Search Friction in The Japanese Labor Market
AbstractBehind rising natural rate of unemployment, they often point out the decline in matching efficiency of the labor market. We empirically examine the cause of matching friction based on the theory of directed search model such as Burdett, Shi and Wright (2001). From rich micro data on vacancy size and wage variation of job changers in Japanese labor market, we observe the negative relationship between vacancy size and offered wage, which show the existence of search friction, not in the whole labor market but in some particular unskilled markets, especially those of clerks and production workers.
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Bibliographic InfoPaper provided by Institute of Economic Research, Hitotsubashi University in its series Hi-Stat Discussion Paper Series with number d06-179.
Date of creation: Aug 2006
Date of revision:
Search friction; matching; directed search; vacancy; wage offer; Japan;
Find related papers by JEL classification:
- J63 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Turnover; Vacancies; Layoffs
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- J42 - Labor and Demographic Economics - - Particular Labor Markets - - - Monopsony; Segmented Labor Markets
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-08-12 (All new papers)
- NEP-DGE-2006-08-12 (Dynamic General Equilibrium)
- NEP-LAB-2006-08-12 (Labour Economics)
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