To Fire or to Hoard? Explaining Japan’s Labor Market Response in the Great Recession

To Fire or to Hoard? Explaining Japan’s Labor Market Response in the Great Recession
The Great Recession pushed Japan's unemployment rate to historic highs, but the increase has been small by international standards and small relative to the large output shock. This paper explores Japan's cyclical labor market response to the global financial crisis. Our findings suggest that: (i) employment responsiveness has been historically... READ MORE...

Publication date: January 2011
ISBN 9781455212514
$18.00

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