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Vacancy Size and Offered Wage
A Source of Search Friction in the Japanese Labor Market
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| Ryo Kambayashi and Yuko Ueno |
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Behind rising natural rate of unemployment, they often point out the decline in matching efficiency of the labor market. We empirically examine the cause of matching friction based on the theory of directed search model such as Burdett, Shi and Wright (2001). From rich micro data on vacancy size and wage variation of job changers in Japanese labor market, we observe the negative relationship between vacancy size and offered wage, which show the existence of search friction, not in the whole labor market but in some particular unskilled markets, especially those of clerks and production workers. |
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| Copyright (C) 2003 by Institute of Economic
Research.All rights reserved. |
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