An adjustment cost model of long‐term employment in Japan

    研究成果: Article査読

    4 被引用数 (Scopus)

    抄録

    A dynamic factor demand model is presented which pays special attention to the prevalence of a long‐term employment relationship in Japan. The model is based on the representation of technology by a variable cost function with adjustment costs for employment and capital stock, where the variable cost consists of the sum of overtime costs and materials costs. With employment being quasi‐fixed and scheduled hours institutionally regulated, short‐run adjustments are mostly made by overtime hours. Application to a time‐series data on the Japanese electrical machinery industry indicates quasi‐fixity of capital and employment and reproduces short‐run overshooting of overtime hours to compensate for the sluggish adjustment of employment.

    本文言語English
    ページ(範囲)175-194
    ページ数20
    ジャーナルJournal of Applied Econometrics
    8
    2
    DOI
    出版ステータスPublished - 1993

    ASJC Scopus subject areas

    • 社会科学(その他)
    • 経済学、計量経済学

    フィンガープリント

    「An adjustment cost model of long‐term employment in Japan」の研究トピックを掘り下げます。これらがまとまってユニークなフィンガープリントを構成します。

    引用スタイル