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Firm size and the number of firms: search theory and market structure

Research Project

Project/Area Number 17K03619
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Research Field Economic theory
Research InstitutionNagoya University

Principal Investigator

Kudoh Noritaka  名古屋大学, 経済学研究科, 教授 (80334598)

Co-Investigator(Kenkyū-buntansha) 尾山 大輔  東京大学, 大学院経済学研究科(経済学部), 准教授 (00436742)
Project Period (FY) 2017-04-01 – 2020-03-31
Project Status Completed (Fiscal Year 2019)
Budget Amount *help
¥4,030,000 (Direct Cost: ¥3,100,000、Indirect Cost: ¥930,000)
Fiscal Year 2019: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2018: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2017: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Keywordsサーチ理論 / 雇用調整 / 企業規模 / 労働時間 / 産業組織 / 景気変動 / 価格分布 / 雇用変動 / 賃金 / 経済理論 / マクロ経済学
Outline of Final Research Achievements

Search theory redefines the notion of market as random encounters of individuals similar to small particles in the air. While search theory successfully models trading frictions that exist in the market transactions in the real world, this modeling strategy has its own limitation. Namely, each transaction is made by a pair of individuals, ruling out a firm with many employees. The main contribution of this research is to develop a framework that possesses both search frictions and the notion of firm size. As an application of the framework, this research developed a model of labor adjustment over the business cycle.

Academic Significance and Societal Importance of the Research Achievements

現在最も代表的な労働市場サーチ・モデルはPissarides, Equilibrium Unemployment Theory, MIT Press, 2000 によって提示されたものであるが、この枠組みにおける取引単位は1対1のペアである。本研究は、多数の従業員を雇用する企業を分析の出発点とすることで、既存の枠組みでは分析できなかった多くの重要な研究テーマに挑戦することが可能になった。この方向性は「サーチ理論」と「企業規模」という両方の要素があって初めて分析可能になるため、国内外の研究動向と照らしても、非常に独創性の高い研究である。

Report

(4 results)
  • 2019 Annual Research Report   Final Research Report ( PDF )
  • 2018 Research-status Report
  • 2017 Research-status Report
  • Research Products

    (8 results)

All 2020 2019 2018 2017 Other

All Int'l Joint Research (2 results) Journal Article (3 results) (of which Int'l Joint Research: 2 results,  Peer Reviewed: 3 results,  Open Access: 3 results) Presentation (3 results) (of which Int'l Joint Research: 1 results,  Invited: 2 results)

  • [Int'l Joint Research] International Monetary Fund(米国)

    • Related Report
      2018 Research-status Report
  • [Int'l Joint Research] International Monetary Fund(米国)

    • Related Report
      2017 Research-status Report
  • [Journal Article] Generalized Belief Operator and Robustness in Binary-Action Supermodular Games2020

    • Author(s)
      Daisuke Oyama, Satoru Takahashi
    • Journal Title

      Econometrica

      Volume: 88 Issue: 2 Pages: 693-726

    • DOI

      10.3982/ecta17237

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] Employment and Hours over the Business Cycle in a Model with Search Frictions2019

    • Author(s)
      Noritaka Kudoh, Hiroaki Miyamoto, Masaru Sasaki
    • Journal Title

      Review of Economic Dynamics

      Volume: 31 Pages: 436-461

    • DOI

      10.1016/j.red.2018.10.002

    • Related Report
      2018 Research-status Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] On the (non-)differentiability of the optimal value function when the optimal solution is unique2018

    • Author(s)
      Daisuke Oyama and Tomoyuki Takenawa
    • Journal Title

      Journal of Mathematical Economics

      Volume: 印刷中 Pages: 21-32

    • DOI

      10.1016/j.jmateco.2018.02.004

    • Related Report
      2018 Research-status Report 2017 Research-status Report
    • Peer Reviewed / Open Access
  • [Presentation] Inflation and Deflation in the Theory of Intertemporal Public Finance2018

    • Author(s)
      工藤教孝
    • Organizer
      日本経済学会
    • Related Report
      2018 Research-status Report
    • Invited
  • [Presentation] Generalized Belief Operator and the Impact of Small Probability Events on Higher Order Beliefs2018

    • Author(s)
      Daisuke Oyama
    • Organizer
      Beliefs and Economic Behaviour: A Research Conference in Honour of Dov Samet
    • Related Report
      2018 Research-status Report
    • Int'l Joint Research
  • [Presentation] 摩擦的労働市場と貿易2017

    • Author(s)
      工藤教孝
    • Organizer
      日本国際経済学会関西支部
    • Related Report
      2017 Research-status Report
    • Invited

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Published: 2017-04-28   Modified: 2022-02-21  

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