This book examines theories of firm-level human capital investment with respect to topics in labor demand, macroeconomics (especially connected to unemployment), and firm-union bargaining. It covers a wide range of related policy issues, including the worksharing versus layoff debate, wage-tenure profiles, taxation and the choice between pure wages and profit sharing compensation, and the role of specific investment in the Japanese firm versus the traditional (United States) neoclassical firm.

Provides a detailed discussion of all aspects of employment (including recruitment, tenure, turnover, promotion, labor force participation, unemployment, and retirement) and labor payments (wages, bonus payments, non-wage costs) in the Japanese labor market. All topics are discussed in relation to comparable experience in the United States and Europe. A major theme concerns whether or not key features of Japanese labor market institutions and practices differ from competitor economies.

This book examines theories of firm-level human capital investment with respect to topics in labor demand, macroeconomics (especially connected to unemployment), and firm-union bargaining. It covers a wide range of related policy issues, including the worksharing versus layoff debate, wage-tenure profiles, taxation and the choice between pure wages and profit sharing compensation, and the role of specific investment in the Japanese firm versus the traditional (United States) neoclassical firm.