Demand Shocks and Employment Adjustments: Changes in employee composition at exporting firms during the global financial crisis of 2008-09 (Japanese)
This paper examines the effect of negative demand shocks on the labor composition of firms, focusing on the change in the ratio of temporary agency workers to all workers.To distinguish a causal link from product demands to employee composition from the reverse causation, we used the global financial crisis of 2008-09 as a natural experiment of demand shocks on exporting firms in Japan and analyzed their changes in employee composition.We find that firms with a higher exporting ratio, a higher temporary agency worker ratio, and a larger increase of temporary agency worker ratio before the crisis decreased their temporary agency worker ratio to a greater extent after the crisis. We also find that firms with a higher liquidity to asset ratio and a larger volatility in changes in sales decreased the temporary agency worker ratio to a lesser extent after the crisis. These results suggest that temporary agency workers serve as a buffer to demand shocks.
Year of publication: |
2014-02
|
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Authors: | Miho, TAKIZAWA ; Kotaro, TSURU ; Kaoru, HOSONO |
Institutions: | Research Institute of Economy, Trade and Industry (RIETI) |
Saved in:
freely available
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