The Changing Japanese Labor Market by Akiomi Kitagawa Souichi Ohta & Hiroshi Teruyama

Author:Akiomi Kitagawa, Souichi Ohta & Hiroshi Teruyama
Language: eng
Format: epub
Publisher: Springer Singapore, Singapore

On the other hand, the policy makes no change to the profiles of the AICs . Still in this case, the arguments of Sect. 3.4 are true if , , , and are replaced with , , , and , respectively. Because these Ts are canceled out in the deriving process, we obtain the same profiles of the AICs as before. From these results, we can safely state that, under this policy, the profile of the aggregate labor demand runs through the upper end of the upward-sloping parts of the AICs , and thus that the model has a unique stationary equilibrium, in which E and are determined as and , and, regardless of firms’ belief, jobless workers can find new jobs by experiencing only one period of unemployment. To balance the budget, the tax burden of each worker (i.e., T) must satisfy

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