@article{oai:nagoya.repo.nii.ac.jp:00018965,
 author = {Yoneda, Koji and Minagawa, Tadashi},
 issue = {E14-11},
 journal = {Economic Research Center Discussion Paper},
 month = {Dec},
 note = {This paper addresses two main subjects. (i) The first is to examine how skill specificity affects the way that negative demand shocks lead to destruction of skilled jobs. Our theoretical model, in which skilled workers are complementary to each other, produces the following results: Once market conditions fall below some critical level, the number of skilled jobs drops discretely, rather than decreasing continuously; facing a large decrease in demand, the percentage decrease in the value of output is greater in an industry with higher skill specificity than that with lower specificity. (ii) The second aim of this paper is to show that, even if the wages in the current firm are greater than the highest wage in the external labor market, workers’ turnover can occur due to coordination failures. This makes firms willing to pay wages far above external wages in order to reduce costly labor turnover. This coordination problem arises from a Leontief technology and the timing of workers’ decisions on their turnover.},
 title = {Job Destruction and Coordination Failures in Labor Turnover},
 year = {2014}
}