2024-03-29T09:07:31Z
https://nagoya.repo.nii.ac.jp/oai
oai:nagoya.repo.nii.ac.jp:00024511
2023-01-16T03:56:31Z
1076:1077:1078
Employment and Hours over the Business Cycle in a Model with Search Frictions
Kudoh, Noritaka
Miyamoto, Hiroaki
Sasaki, Masaru
open access
search
hours of work
employment
business cycles
multi-worker firms
This paper presents a labor market search-matching model with multi-worker firms to investigate how firms utilize employment and hours of work over the business cycle. Each firm and its employees bargain over an earnings schedule that maps hours into earnings, and this schedule determines the costs of utilizing the two margins of labor adjustment. We calibrate the model for the Japanese labor market, in which fluctuations in hours of work account for 79 percent of the variations in the aggregate labor input. We find that the aggregate labor input in the model is as volatile as that in the data, and is 25 times as volatile as that in the model without hours of work. Interestingly, with bargained hours of work, the model generates significantly small fluctuations in employment, unemployment, and vacancies, and is outperformed by the model with constant hours of work.
名古屋大学大学院経済学研究科附属国際経済政策研究センター
2017-05
eng
departmental bulletin paper
VoR
http://hdl.handle.net/2237/26730
https://nagoya.repo.nii.ac.jp/records/24511
Economic Research Center Discussion Paper
E17-2
https://nagoya.repo.nii.ac.jp/record/24511/files/E17-2.pdf
application/pdf
255.3 kB
2018-02-22