SOME ANALYTICAL ASPECTS OF THE JAPANESE "LIFETIME EMPLOYMENT" SYSTEM.
Item
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Title
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SOME ANALYTICAL ASPECTS OF THE JAPANESE "LIFETIME EMPLOYMENT" SYSTEM.
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Identifier
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AAI8014967
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identifier
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8014967
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Creator
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HIWAKI, KENSEI.
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Contributor
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Elliot Zupnick | Herbert J. Geyer
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Date
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1980
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Language
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English
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Publisher
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City University of New York.
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Subject
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Economics, Theory
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Abstract
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The present study aims at an economic analysis of the Japanese "lifetime employment" system, in terms of its possible relations to the postwar growth of the Japanese saving propensity and output. First, it is hypothesized that the practice of the employment system is related to establishment or reinforcement of a mutual interest of labor and management in rapid growth and prosperity of their relevant firms. Secondly, it is hypothesized that the establishment or the reinforcement of the common interest is related to a higher rate of the representative firm's internal saving and investment, via a decline of the representative worker's time-preference rate.;The study adopts the Fisherian intertemporal consumption framework, in conjunction with the bilateral-monopoly framework and an interdependent-utility framework, for the theoretical analyses of the employment system. For the empirical analyses, the study utilizes a graphical survey of the relevant wage shares (or the wage/value-added ratios) in the manufacturing industries for the period between 1952 and 1975 and the simple least-square regression regarding the relevant changes in the representative worker's time-preference rate. Both the theoretical and the empirical analyses point to significant relations between the employment practice and the decline of the representative worker's time-preference rate, on one hand, and between the former and the growth of the value-added per worker, on the other hand.;A main implication drawn from the present study is that either a prolonged stagnation of the economic activities or a rapid modification of the employment system tends to increase the representative worker's time-preference rate and induce a further unfavorable effects on the saving propensity and output in the long run. This suggests that the Japanese government should encourage a rapid economic growth, while the relevant management should moderate its efforts for modification of the "lifetime employment" system.
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Type
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dissertation
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Source
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PQT Legacy CUNY.xlsx
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degree
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Ph.D.
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Program
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Economics
