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Vacancy Size and Offered Wage: A Source of Search Friction in The Japanese Labor Market

Author

Listed:
  • Ryo Kambayashi
  • Yuko Ueno

Abstract

Behind 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.

Suggested Citation

  • Ryo Kambayashi & Yuko Ueno, 2006. "Vacancy Size and Offered Wage: A Source of Search Friction in The Japanese Labor Market," Hi-Stat Discussion Paper Series d06-179, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hst:hstdps:d06-179
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    File URL: http://hi-stat.ier.hit-u.ac.jp/research/discussion/2006/pdf/D06-179.pdf
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    More about this item

    Keywords

    Search friction; matching; directed search; vacancy; wage offer; Japan;
    All these keywords.

    JEL classification:

    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - 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

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