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Job Flows And Unemployment In An Equilibrium Unemployment Model With Firm‐Specific Skill Training

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  • HIROAKI MIYAMOTO
  • YOSHIMASA SHIRAI

Abstract

We introduce productivity enhancing firm‐specific skill training into the labour search model in which the firm‐specific skill training intensity and the job destruction rate are endogenously determined. It is shown that the higher the intensity of such training, the lower the rates of unemployment, job creation and job destruction. The paper's model provides a theoretical framework to understand the often mentioned peculiarity of the Japanese labour market; prevalently low rates of unemployment, job creation and job destruction in Japan are due to its training system which promotes workers to acquire firm‐specific skills.

Suggested Citation

  • Hiroaki Miyamoto & Yoshimasa Shirai, 2006. "Job Flows And Unemployment In An Equilibrium Unemployment Model With Firm‐Specific Skill Training," The Japanese Economic Review, Japanese Economic Association, vol. 57(4), pages 547-561, December.
    • Handle: RePEc:bla:jecrev:v:57:y:2006:i:4:p:547-561
    DOI: 10.1111/j.1468-5876.2006.00320.x
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    References listed on IDEAS

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    1. Christopher A. Pissarides, 2000. "Equilibrium Unemployment Theory, 2nd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262161877, December.
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    Cited by:

    1. Lin, Ching-Yang & Miyamoto, Hiroaki, 2014. "An estimated search and matching model of the Japanese labor market," Journal of the Japanese and International Economies, Elsevier, vol. 32(C), pages 86-104.
    2. Miyamoto, Hiroaki, 2011. "Cyclical behavior of unemployment and job vacancies in Japan," Japan and the World Economy, Elsevier, vol. 23(3), pages 214-225.
    3. Carter Thomas J., 2011. "Training and Turnover with Equilibrium Unemployment," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-23, March.
    4. Miyamoto, Hiroaki, 2011. "Efficiency in a search and matching model with training costs," Economic Modelling, Elsevier, vol. 28(4), pages 1838-1841, July.

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