2015 Fiscal Year Final Research Report
Assessing the Role of Government in Japan's Labor Market Change during Recent Severe Recessions
| Project/Area Number |
24330063
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Partial Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Economic theory
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| Research Institution | National Graduate Institute for Policy Studies |
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Principal Investigator |
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| Co-Investigator(Kenkyū-buntansha) |
TANAKA Ryuichi 政策研究大学院大学, 政策研究科, 准教授 (00397704)
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| Co-Investigator(Renkei-kenkyūsha) |
SAWADA Yasuyuki 東京大学, 経済学研究科, 教授 (40322078)
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| Project Period (FY) |
2012-04-01 – 2016-03-31
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| Keywords | Government Policies / Labor Market / General Equilibrium / Search and Matching / Worker Flows / Population Aging / Lost Decade |
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| Outline of Final Research Achievements |
This project studied the changes in Japan’s labor market since the 1980s, and the role of government policies in shaping them. Our empirical analysis showed that the changes in unemployment were mostly driven by the increase in job separations, whereas the decrease in participation was accounted by the drop in workers moving from inactivity to employment, which is partially explained by the aging of the population. In our theoretical work we developed sophisticated models and explained issues such as the importance of enforceability of policies, the role of the workers’ age in labor market outcomes, and that while government policies cannot account for the structural transformation of Japan, they did prevent unemployment from going even higher than it did during the Lost Decade.
All the results of our project were presented in conferences and seminars in Japan and overseas, and eventually published in highly ranked international journals.
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| Free Research Field |
マクロ経済、労働・金融経済学
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