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This study empirically analyzed downward nominal wage rigidity using time-series cross-industry data from 1981 to 2002, a period which included deflation. We found that nominal wages remained rigid to downward pressure by expected deflation and labor-market tightness. Estimations according to...
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estimate unemployment and an ordinary least squares regression to estimate earnings. To estimate unemployment and earnings, we … home and those who moved tend to have the worst labor market performance in terms of probability of unemployment and annual …
Persistent link: https://www.econbiz.de/10012959676
productivity growth as well as the target inflation rate of the central bank, discretionary monetary policy geared towards growth … a large extent. But in Germany, wages have increased below this norm or even decreased, and in Japan this effect has … been even more extreme. Overall, while Japan and Germany have suffered from dysfunctional economic regimes leading to low …
Persistent link: https://www.econbiz.de/10013151089
Past and future evolution of inflation, p(t), and unemployment, UE(t), in Japan is modeled. Both variables are … curve. This Phillips curve is characterized by a negative relation between inflation and unemployment and their synchronous … evolution: UE(t) = -0.94p(t) + 0.045. Effectively, growing unemployment has resulted in decreasing inflation since 1982. A …
Persistent link: https://www.econbiz.de/10005260050
unemployment in Japan. The question is to what extent business ownership, i.e., entrepreneurship, can reduce the level of … unemployment. It will be concluded that Japan is hardly an outlier when using a simple model of the relationship between … unemployment and the rate of business ownership. The model is calibrated using recent data of 23 OECD countries. It shows a minor …
Persistent link: https://www.econbiz.de/10010276798
The Japanese labor market displays U-shaped unemployment and separation rates, and declining job-finding rates as … the unemployment and finding rates similar in magnitude to those observed in Japan since the 1980s. …
Persistent link: https://www.econbiz.de/10009154531
Japan's unemployment rate. Further, the transitions between regular and non-regular works are important for the dynamics of …
Persistent link: https://www.econbiz.de/10012841401
This paper analyses aggregate labour dynamics during the global financial crisis in Japan and the role of nonstandard work using micro data. The analysis proceeds in two steps. First, using comprehensive establishment-level datasets for the period 1991-2009, it provides a detailed portrait of...
Persistent link: https://www.econbiz.de/10011347289