2012 Fiscal Year Final Research Report
A unified analysis of the unemploymentrate and employment system by search theory
| Project/Area Number |
23730191
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Economic theory
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| Research Institution | Okayama University |
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Principal Investigator |
HIGASHI Youichiro 岡山大学, 大学院・社会文化科学研究科, 准教授 (80327692)
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| Project Period (FY) |
2011 – 2012
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| Keywords | サーチモデル / 企業特殊的人的資本 / 失業率 / 長期雇用 |
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| Research Abstract |
In this study, I construct a search model in which the unemployment rate and employment system are simultaneously determined. I show that the model has multiple equilibria because firms’ employment contract choices have strategic complementarity. In an equilibrium corresponding to Japanese economy, firms use long-term employment contracts, firm specific human capital is intensively accumulated, and the unemployment rate is low. In another equilibrium corresponding to U.S. economy, firms use short-term contracts, firm specific human capital is not intensively accumulated, and the unemployment rate is high.
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