Productivity, Demand and Inter-Sectoral Labor Allocation in Japan  

Oleh:

Shioji, Etsuro

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Japan Labor Review vol. 12 no. 2 (2015), page 065-085.
Topik: Productivity; Demand; Inter-Sectora; Labor Allocation; Japan
Fulltext: JLR46_shioji.pdf (987.35KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ134 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

This paper first overviews recent trends in inter-sectoral labor allocation in Japan. I find that three sectors have been expanding at the expense of manufacturing. These three sectors are: medical and health services, corporate services, and information services. I study the roles played by both productivity and demand factors behind those changes. As for productivity, the greatest gain has been found not in those growing sectors but rather in manufacturing, especially electronics. Does that mean that Japan should have expanded this sector further? Not necessarily. I show theoretically that, when demand satiation is important, a productivity increase in one sector could actually reduce the optimal labor allocation to that sector, when an endogenous decline in the product price is sufficiently large. In fact, prices of electronics products in Japan have been falling dramatically. In the light of the model, we could argue that labor allocation to the electronics sector should have been contracted faster. As for the demand factor, I study the relationship between population aging and labor allocation to the medical and health service sector. I find that, despite the large labor inflows, this sector suffers from a chronic and massive labor shortage. I hypothesize that this is because prices of those services do not react to market conditions. As a consequence, in spite of the large shortage, wages do not respond, and the sector fails to attract labor fast enough.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali