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Friction Model and Estimation Method
Estimation Results and Interpretation
13 big cities 29 or less 999 employees Altonji and Devereux annual earnings Bank of Japan big cities dummy Clerical worker Coeff Consumer Price Index Current profit downward nominal wage earnings of full-time engineer or teacher Estimation Results experience squared 0.000 Firm size dummy Full-Time Female Employees hourly wages Index by prefecture Industry dummy Base instrumental variables insurance or real Kuroda and Yamamoto Labor market experience Laborer base less employees likelihood function market experience squared maximum likelihood measurement errors nominal wage change nominal wage cuts nominal wage rigidity normal distribution notional Number of samples Occupation dummy Base part-time female employees Probability of wage profit to sales rate by region region and sex regular monthly salaries salaries of full-time Sales or service sales ratio 0.003 service worker Tenure squared 0.000 Tobit model Transportation or telecommunications Unemployment rate wage change distributions wage change rate wage freezes wages of part-time Wholesaling or retailing Yamamoto 2003a