This paper analyzes labor market frictions, caused by heterogeneity among traders on the demand side (firms). Vacancy numbers per firm created at once can vary, and this heterogeneity affects the application rate by job seekers. On the aggregate level, theory predicts that vacancy distribution...

1. Research Theme It has been pointed out that the existence or rise in unemployment rate caused by 'mismatch' in labor market is one of the major factors for recent continuous high unemployment rate in our country. Such 'mismatch' has often been regarded as coming from technical problems, which...

1 Motivation The main theme of this research is to examine empirically where the source of search friction exists in Japanese labor market. There has been a new influential theory called "endogenous matching function", which regards matching efficiency to be determined through interdependency...

This study examines how Japanese consumers’ inflation expectations are formed by the use of micro-level dataset of the prediction error of expected inflation rate. Recently in Japan, the interest is growing in the policies that intend to work on the inflation expectations of consumers and...

This paper documents the secular decline of years of job tenure in Japan based on micro data from two representative government surveys, namely the household-based Employment Status Survey (ESS) and the establishment-based Basic Survey of Wage Structure (BSWS). Workers born in 1970 have...