A Lost Decade Revisited :Zombie Firms and Inefficient Labor Allocation
This paper investigates why labors wouldnft be reallocated from contracting firms to expanding firms in the 1990s in Japan, focusing on the increase of zombie firms after the burst of the bubble economy. Main evidences are twofold. First, higher proportion of total industry labors by zombies impeded labor redeployment from zombies to non-zombies in the industry. Second, labors in zombies wouldnft be readily shifted toward non-zombies irrespective of industry. These results show that the misallocation of credit by way of the increase of zombies was important for the decline of labor reallocation across firms.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||Mar 2006|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.econ.osaka-u.ac.jp/|
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:osk:wpaper:0608. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Atsuko SUZUKI)
If references are entirely missing, you can add them using this form.