我が国における労働調整過程の変容：VAR プロセスの応用

For long, a lot of economists suppose that Japanese labor market adjusts its labor input by overwork hours and its cost by wages, i.e., prices of employment so that the fluctuation in employment is sizably minimized across the business cycles. In recent recession, however, Japan experienced a large scaled dismissal of irregular workers called ‘reduction of dispatched employment’or‘employment stoppage,’ which are accepted as an evidence that the labor market adjustment in Japan is now completed partly by employment in spite of overwork hours or wages. This paper explores a vector autoregression process to reveal Japanese labor market adjustment process in macroeconomic sentences. Results present that Japanese labor market has not so far changed to adjust directly employment while some distinctive features in recent years are derived