Career Experience Replaced: Emergence of Japanese Internal Labor Markets
AbstractContemporary Japanese firms adopt the â€œports of entryâ€ policy. However, our microanalysis of a steel company in the 1930sâ€“1960s shows that 1) mid-career recruiting was active by the 1960s, while 2) the returns on tenure and schooling surged from the late 1940s and 3) the return on on previous careers decreased from the late 1940s, indicating that extended schooling replaced mid-career experience. Therefore, the Japanese model, which focuses on new graduates and intensively rewards firm-specific skills, was originally not an intended incentive design, but a response to technological changes and the educational reform, of which firms became aware later.
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Bibliographic InfoPaper provided by Institute of Social Science, The University of Tokyo in its series ISS Discussion Paper Series (series F) with number f157.
Length: 30 pages
Date of creation: Sep 2011
Date of revision: 27 Jun 2014
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More information through EDIRC
specific skills; asymmetric employer learning; return on schooling; internal labor markets; Japan.;
Find related papers by JEL classification:
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
- M52 - Business Administration and Business Economics; Marketing; Accounting - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-06-13 (All new papers)
- NEP-HIS-2012-06-13 (Business, Economic & Financial History)
- NEP-LAB-2012-06-13 (Labour Economics)
- NEP-LMA-2012-06-13 (Labor Markets - Supply, Demand, & Wages)
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