The wave of corporate downsizing in the 1990s focused attention on the role of long-term employment relationships in the United States. Given 1) the importance that these relationships have played historically, 2) the general view that long-term jobs are “good jobs,” and 3) the suspicion...

The increasing globalization of production and trade in the last 25 years has required substantial adjustment of employment relationships in the United States and Japan. Worker attachment to firms has always been lower in the U.S. than in Japan, and this is reflected in a difference in...