Path to Higher Growth: Does Revamping Japan S Dual Labor Market Matter? Chie Aoyagi

ISBN: 9781306704847

Published: June 14th 2014

ebook

27 pages


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Path to Higher Growth: Does Revamping Japan S Dual Labor Market Matter?  by  Chie Aoyagi

Path to Higher Growth: Does Revamping Japan S Dual Labor Market Matter? by Chie Aoyagi
June 14th 2014 | ebook | PDF, EPUB, FB2, DjVu, AUDIO, mp3, RTF | 27 pages | ISBN: 9781306704847 | 5.17 Mb

This paper argues that Japan s excessive labor market duality can reduce Total Factor Productivity (TFP) due to a negative impact on non-regular workers effort and on firms incentives to train them. On the basis of cross-country empirical evidence,MoreThis paper argues that Japan s excessive labor market duality can reduce Total Factor Productivity (TFP) due to a negative impact on non-regular workers effort and on firms incentives to train them. On the basis of cross-country empirical evidence, the paper proposes some reform options.

In particular, our analysis suggests that reducing the difference in employment protection between regular and non-regular workers would substantially reduce labor market duality in Japan. One reform consistent with these findings is the introduction of a Single Open Ended Contract for all newly hired workers. This reform could be complemented by a shift towards a model that combines labor market flexibility and security (-flexicurity-) and by policies aimed at encouraging wage growth.



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