2002 Fiscal Year Final Research Report Summary
Theoretical and empirical studies toward strategic safety net in labor markets with uncer tainty.
| Project/Area Number |
13630016
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
経済理論
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| Research Institution | Keio University |
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Principal Investigator |
AKABAYASHI Hideo Keio University, Faculty of Economics, Associate Professor, 経済学部, 助教授 (90296731)
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| Co-Investigator(Kenkyū-buntansha) |
GREVE Henrich r. University of Tsukuba, Institute of Policy and Planning Sciences, Associate Professor, 社会工学系, 助教授 (60280905)
FUJIWARA-GREVE Takako Keio University, Faculty of Economics, Associate Professor, 経済学部, 助教授 (10219040)
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| Project Period (FY) |
2001 – 2002
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| Keywords | Labor / Game Theory / Information / Incomplete Market / Strategic Behavior / Micro data / Turnover |
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| Research Abstract |
The aim of this research is to reconsider basic mechanism of labor markets such as labor supply, job search, and labor migration, in the light of economic theory with incomplete markets, and to suggest labor market policies that take into account strategic behavior of players in the markets.
First, using U.S.and Japanese data, we investigated into the determinants of labor turnover. Preliminary analyses suggest that not only wage but also work conditions and firm size influence the decision to turnover. Based on those results we wrote a paper titled "Job Search and Firm Size Effect in Japan" (by Akabayashi, Fujiwara-Greve and Greve), in which we show that worker's education, hours of labor, and firm size independently affect the probability to turnover using a simple nonlinear regression analysis. That workers in a large firm tend not to turnover is consistent with our theoretical predictions that the firm's reputation that there are few turnovers generates trust on the side of workers,
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which tends to make the firm size large in equilibrium. We suggest that policies that promote the circulation of information on labor turnover would benefit both workers and firms. Fujiwara-Greve wrote a theoretical paper that treats each worker as a player in a repeated game with endogenous reputation effects.
To investigate the role of family strategy to cope with imperfect insurance markets, Akabayashi investigated into the determinants of destination chosen by black migrant workers in South Africa. 5-year cross-section of household data are analysed based on a model that treats temporary migration of family members as an optimal portfolio decision. The results are summarized in "Dekasegi Rodo no Keizaigaku - Minami Afurika no Jirei" (by Akabayashi) and in "Apartheid and the Motivation of Migrant Workers" (by Akabayashi and Suga ; unpublished). We found that under imperfect insurance markets, the destinations of migrant workers are chosen in accordance with the risk-diversification of total family income. Furthermore, the end of Apartheid in 1994 might have modified the motivations of migrant workers, and suggest that income stabilization is the most important policy for black households who have to rely on temporary migration even after the liberalization. Less
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Research Products
(8 results)
