Recent Changes in the Internal Structure of Wages and Employment in Japan
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文摘
Recent changes in the internal structure of wages and employment in large and medium Japanese firms can be characterized in a parsimonious way with two stylized facts. First, internal wage differentials are countercyclical but without a trend. Second, spans of control trend downward but are acyclical. The paper tries to explain these changes using a simple efficiency wage model that combines exogenous supply and demand shocks with the endogenous determination of relative wages and spans of control by cost-minimizing firms that operate in an environment characterized by asymmetric information and job security. J. Japan. Int. Econ., March 1995 9(1), pp. 105–129. University of Venice, Venice, Italy. Kyoto University, Yoshida-Honmachi, Sakyo-ku, Kyoto 606, Japan. Ritsumeikan University, 56-1 Tojin Kitamachi, Kita-ku, Kyoto 603, Japan.