| Budget Amount *help |
¥1,400,000 (Direct Cost: ¥1,400,000)
Fiscal Year 1988: ¥500,000 (Direct Cost: ¥500,000)
Fiscal Year 1987: ¥900,000 (Direct Cost: ¥900,000)
|
|---|
| Research Abstract |
This research is made up of both theoretical and empirical parts. In the theoretical part i have shown the following. First, there are a lot of factors that cause labor input to be internalized against the commons belief that the factor is a high degree of specificity of specific human capital. I have clarified complicated relationships among these factors and the degree to which labor imput is internalized under various conditions. Second, buffer is not necessary in internalization against the common belied if factors for internalization are strong. Third, in internal labor markets age-wage profiles are determined so that they corresopond to the living costs of their woekers, if capital markets are imperfect and the real rate of interest is low to workers. In the empirical part I have tested the above hypothesis on age-wage profiles in internal labor markets as well as a few other related hypotheses. Our main interest is how the slopes of the profiles are determined. For the slopes i have considered the ratios of the average wage of 40-49 year-old woekers to that of 20-24 year-old workers that are classified according th firm size and academic career in the industries of distribution, banking and insurance, and construction. The test was undertaken using the time series data since 1965. The results of the test are the following. The rate of increase in the size of labor force and the costs of higher education for children have positive effects on the ratios, while the age of mandatory retirement has a negateve effect. These results support the cost-of-living hypothesis. The test has also revealed that the recent regidity in labor mobility had a positive effect and that the ratio of effective labor demand to effective supply had a negative effect.
|
