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Dynamics of probabilistic labor markets: statistical physics perspective

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  • He Chen
  • Jun-ichi Inoue

Abstract

We 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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  • He Chen & Jun-ichi Inoue, 2013. "Dynamics of probabilistic labor markets: statistical physics perspective," Papers 1309.5158, arXiv.org.
  • Handle: RePEc:arx:papers:1309.5158
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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, January.
    2. Casares, Miguel & Moreno, Antonio & Vázquez, Jesús, 2014. "An estimated New-Keynesian model with unemployment as excess supply of labor," Journal of Macroeconomics, Elsevier, vol. 40(C), pages 338-359.
    3. Savoiu, Gheorghe (ed.), 2012. "Econophysics," Elsevier Monographs, Elsevier, edition 1, number 9780124046269.
    4. Roberto Gabriele, 2002. "Labor Market Dynamics and Institutions: an Evolutionary Approach," LEM Papers Series 2002/07, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
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