2023-09-28 14:46:10 +00:00
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abstract: 'Exploiting heterogeneous variations in labour cost increases due to
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Japan''s 2003 social insurance premium reform as a natural experiment, we
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estimate the impacts of the increased social insurance premiums on
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employment, working hours and payroll costs. Using the
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difference-in-differences method with establishment fixed effects, we
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find that firms reduce the number of employees and increase average
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annual earnings from longer working hours in response to an exogenous
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increase in labour costs without productivity gains. Firms manage to pay
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for this increase in the average wage paid to the remaining workers by
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reducing the number of employees to keep total payroll costs unchanged.
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In contrast, since social insurance premiums are shared equally between
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employees and employers, firms pay the remaining half premiums that they
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are imposed with. Sub-sample analyses show that firms adhering to a
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labour hoarding policy did fire many workers taking advantage of the
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2003 reform. This may indicate that the reform provided a good excuse to
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cut employment in firms that had been forced to comply with a labour
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hoarding policy even in an over-employment situation, which is more
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likely in sectors and countries where dismissals are rigorously
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regulated.'
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affiliation: 'Kodama, N (Corresponding Author), Hitotsubashi Univ, Grad Sch Econ,
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2-1 Naka, Kunitachi, Tokyo 1868601, Japan.
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Kodama, N (Corresponding Author), METI, Res Inst Econ Trade \& Ind, Chiyoda Ku,
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11th Floor,1-3-1 Kasumigaseki, Tokyo 1008901, Japan.
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Kodama, Naomi; Yokoyama, Izumi, Hitotsubashi Univ, Grad Sch Econ, 2-1 Naka, Kunitachi,
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Tokyo 1868601, Japan.
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Kodama, Naomi, METI, Res Inst Econ Trade \& Ind, Chiyoda Ku, 11th Floor,1-3-1 Kasumigaseki,
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Tokyo 1008901, Japan.'
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author: Kodama, Naomi and Yokoyama, Izumi
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author-email: 'kodama.naomi@r.hit-u.ac.jp
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izumi.yokoyama@r.hit-u.ac.jp'
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author_list:
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- family: Kodama
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given: Naomi
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- family: Yokoyama
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given: Izumi
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da: '2023-09-28'
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doi: 10.1111/obes.12226
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eissn: 1468-0084
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files: []
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issn: 0305-9049
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journal: OXFORD BULLETIN OF ECONOMICS AND STATISTICS
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keywords-plus: 'PAYROLL TAXES; WAGE; INSTITUTIONS; BONUS; EXPERIENCE; INEQUALITY;
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EMPLOYMENT; INCOME; BEARS; PAY'
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language: English
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month: OCT
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number: '5'
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number-of-cited-references: '45'
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orcid-numbers: Yokoyama, Izumi/0000-0003-4661-2670
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pages: 992-1019
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papis_id: 9d5cbbaee5e129c3b2a3ee8d5acb0a19
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ref: Kodama2018labourmarket
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researcherid-numbers: 'Kodama, Naomi/HNB-9949-2023
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Yokoyama, Izumi/T-8665-2017'
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times-cited: '2'
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title: 'The Labour Market Effects of Increases in Social Insurance Premium: Evidence
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from Japan'
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000443403200007
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usage-count-last-180-days: '2'
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usage-count-since-2013: '25'
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volume: '80'
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web-of-science-categories: 'Economics; Social Sciences, Mathematical Methods; Statistics
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\&
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Probability'
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year: '2018'
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