(CFW ) CFW 1

DSGE * 1 * 2 2012 11 *1 2012 11 22 25 ( ) ( ) *2 3

(CFW ) CFW 1

1 3 1.1....................................... 3 1.2.................................. 5 2 DSGE 6 2.1.............................. 6 2.2..................................... 8 2.3.......................... 13 3 18 3.1.............................. 18 3.2 CFW................................ 20 3.3.................................... 26 4 27 28 2

1 (1) (2) 1.1 2011 3 11 2 5.5% 8% * 1 2 2008 50 150 *2 8% 3 2 1 ( 1.1) 2007 1 679 2008 9 2011 563 *1 24 *2 (2012) 150 (2009) 45 3

*3 2 1995 ( 2006) *4 1.1 Cash For Work(CFW) *5 CFW 500 CFW 1 3 CFW *3 2011 2 ( 2012) *4 3 ( 2012) *5 CFW (Food For Work) (2011) 4

1.2 (DSGE) DSGE Job-Search 1. 2. 3. CFW 3 3 1. 2. 3. CFW CFW CFW CFW CFW CFW CFW 5

2 DSGE (1) (2) (3) 2.1 Diamond (1982) Mortensen (1982) Pissarides (1985) Mortensen and Pissarides(1994) DSGE DSGE Shimer(2005) Shimer Hall(2005) Hall(2005) Michaillat(2012a) Mortensen and Pissarides(1994) Hall(2005) Michaillat(2012a) Michaillat(2012b) 2 6

Michaillat(2012b) Michaillat(2012b) CFW 1 ( ) 2 ( ) 2 ( ) ( ) ( ) CFW CFW 7

2.2 Labor Market 2 l t g t n t = l t + g t t 1 s n t 1 s ( ) 1 t u t = 1 (1 s)n t 1 t h(u t, v t ) h(u t, v t ) min(u t, v t ) *1 1 h(u t, v t ) = ϕ 0 u ϕ 1 t v 1 ϕ 1 t (2.1) θ t v t /u t f(θ t ) h(u t, v t )/u t = h(1, θ t ) q(θ t ) h(u t, v t )/v t = h(1/θ t, 1) ( f(θ t ) ) ( q(θ t ) ) r (0, + ) rz t *2 θ u t h t 3 f(θ t ) f(θ t ) = h t u t (2.2) sn [1 (1 s)n]f(θ) n = 1 (1 s) + s/f(θ) (2.3) t h t (1 s)n t *1 h(u t, v t ) min(u t, v t ) f(θ t ) 1 q(θ t ) 1 *2 Pissarides(2000) Michaillat(2012a) r rz t 8

Wage Schedule ( γ [0, 1), ω (0, + )) w t = ωz γ t (2.4) ω γ z t γ = 0 γ = 1 Firms y(l t, z t ) = z t x(l t ) (2.5) y t z t l t x(l t ) = l α t (α 0) β (0, 1) + E 0 β t π t (2.6) t=0 E 0 0 π t t π t = y(l t, z t ) w t n t rz t q(θ t ) h t (2.7) l t = (1 s)l t 1 + h t (2.8) 1 s h t {θ t, n t, z t } + t=0 (2.8) (2.6) {h t, l t } + t=0 n t [ ] y(l t, z t ) = w t + rz t l t q(θ t ) + l w t rz t+1 t β(1 s)e t (2.9) l t q(θ t+1 ) (2.9) w t r z t /q(θ t ) n t w/ n β (2.9) 1 9

Government w t p t = ω p z t x(g t ) (2.10) g t p t ω p (0, + ) b t w t (1 n t ) g t w t rz t [ ] gt (1 s)g t 1 3 nt w t π t q(θ t ) n t τ t w t + π t =b t w t (1 n t ) + g t w t + rz t [ ] gt (1 s)g t 1 q(θ t ) (2.11) ζ (0, 1) g t = ζn t (2.12) Large Households ( ) * 3 E 0 + t=0 β t [ c 1 η t 1 1 η ] p 1 η t 1 + ω v 1 η (2.13) p t η 0 w t τ t b t b t w t c e t cu t c e t = (1 τ t )w t (2.14) c u t = b t w t (2.15) ρ = b t /(1 τ t ) *3 Mortensen and Pissarides 1994; Pissarides 2000; Shimer 2005 (1) (2) (Shimer 2010) 10

Calibration Michaillat(2012b) Michaillat(2012b) s 0.118% 2001-2010 ω 0.617 4.67% ϕ 0 0.067 (2003) ϕ 1 0.47 (2003) α 0.597 2001-2010 r 0.2 0.32 ω(michaillat 2012) β 0.999 5% γ 0.749 2001-2010 ρ 0.65 ζ 0.06 OECD(2009) s 10 Michaillat(2012b) 1 2001 2010 10 5.64% 0.118% 10 α = 0.597 OECD Government at a Glance ζ = 0.06 ϕ 0 ϕ 1 (2003) ϕ 0 ϕ 0 = 0.067 Michaillat(2012b) ϕ 0 = 0.233 3.5 3 (2003) ϕ 1 (2003) ϕ 0 = 0.47 ω r θ ū 10 θ = 0.758 24 10 ū = 4.67% ū = 1 (1 s) n n = 0.954 ζ = 0.06 ḡ = 0.057 l = 0.897 (2.9) ω = α l α 1 [ 1 (1 s)δ ] 0.32ω q( θ) ω = 0.62 Michaillat(2012b) r = 0.32ω = 0.2 11

50 80% ( ) 65% ρ = 0.65 γ γ = 0.749 12

2.3 (1) ( ) (2) (3) CFW 3 * 4 (2.11) n t τ t w t + π t = b t w t (1 n t ) + g t w t + rz t [ ] gt (1 s)g t 1 q(θ t ) n t τ t w t + π t = b t w t (1 n t ) + g t w t + rz t [ ] rz t [ ] gt (1 s)g t 1 + lt (1 s)l t 1 q(θ t ) q(θ t ) 82% *5 80% ( ) 20% ( ) * 6 z t 1% u t n t θ t 3 *4 http://www.mhlw.go.jp/general/seido/josei/kyufukin/a01-1.html *5 24 *6 7969 () 23 563 7.1% 20% 13

2.1 (2.1) 7% 5.5% ( 80% ) 14

z t ϕ 0 ζ 5% 2.2 (2.2) ( ) 15

CFW (CFW ) CFW ϕ 0 = 0.067 2.3 CFW CFW (2.3) CFW ( ) ( ) CFW 2 CFW 250 CFW 16

CFW CFW CFW 17

3 CFW (1) (2) (3) 3.1 Jackman and Roper(1987) * 1 3 (3.1) 3.1 *1 Jackman and Roper(1987) ( V = n k=1 V k U = n k=1 U k ) 1 U 1 n 2 k=1 U k U V k = V 1 n U k 2 k=1 U V k V 2011 4 2012 3 3 ( ) 18

1 *2 3.2 (3.2) 2 2 *3 3 24 8 ( ) 40 * 4 *2 (%) *3 67.3% 13.7% *4 (http://w2.avis.ne.jp/nkn/) 19

3 ( 3.3) CFW 3.3 3 3.2 CFW CFW CFW Mercy- 3.4 CFW Corps(2007) 6 CFW CFW ( MercyCorps(2007) 20

CFW ) * 5 CFW CFW MercyCorps(2007) CFW CFW CFW 80% 2011 CFW * 6 16 2800 15 0100 15 1400 15 5700 14 5300 14 2000 14 4900 14 2800 13 9000 3.1 3 *5 206 830 140 599 2 9 72 7085 ( 23 ) *6 21

(A) ( ) (B) (C) CFW (A) (B) PR (C) CFW 3 1. CFW 2. CFW 3. 22

CFW 3.5 MercyCorps(2007) CFW CFW CFW NGO (3.5) 23

CFW NGO ATM 7 18% 23% (3.2) 5 10 4 16 3 29 3 29 4 3 24 2 3 24 1505 288 106 57 ( ) (100 ) 1.1 47 19 * 7 CFW *7 1 2011 6 24

CFW (A) (B) CFW (A) (B) 25

3.3 CFW 2 CFW (2011) CFW CFW CFW CFW CFW CFW 23 6579 43 *8 2 5440 *9 (CFW ) 500 2 9600 * 10 500 CFW *8 23 *9 *10 26

4 CFW CFW CFW 27

(2003) International Department Working Paper Series No.03 J-7. (2012) No.622 :46 59. (2011) (2012) JILPT. No.99. (2012) No.622 :4 16. (2009) 2009 8 5 Blanchard, Olivier, and Jordi Gali(2010) Labor Markets and Monetary Policy: A New Keynesian Model with Unemployment. American Economic Journal: Macroeconomics 2 (2): 1 30. Hall, R. E.(2005) Employment Fluctuations with Equilibrium Wage Stickiness. American Economic Review 95 (1): 50 65. Hosios, A. J. (1990) On the Efficiency of Matching and Related Models of Search and Unemploy- ment. Review of Economic Studies 57 (2): 279 98. Petrongolo, B., and C. A. Pissarides(2001) Looking into the Black Box: A Survey of the Matching Function. Journal of Economic Literature 39 (2): 390 431. Pissarides, C. A. (2000) Equilibrium Unemployment Theory, 2nd ed. Cambridge, MA: The MIT Press. MercyCorps. (2007) Guide to Cash-for-Work Programming,1st Ave International Headquarters 3015 SW. Mortensen,D., and C. A. Pissarides(1994) Job Creation and Job Destruction in the Theory of Unemployment The Review of Economic Studies 61 (3): 397 415. Michaillat, P. (2012a) Do Matching Frictions Explain Unemployment? - Not in Bad Times American Economic Review 102(4): 1721 1750. 28

Michaillat, P. (2012b) Fiscal Multipliers over the Business Cycle Centre for Economic Performance DiscussionPaper No.1115. Miyamoto, H. (2011) Cyclical Behavior of Unemployment and Job Vacancies in Japan Japan and theworld Economy 23(3): 214 225. Shimer, R. (2005) The Cyclical Behavior of Equilibrium Unemployment and Vacancies. American Economic Review 95 (1): 25 49. Shimer, R. (2010) Labor Markets and Business Cycles. Princeton, NJ: Princeton University Press. OECD(2009) Government at a Glance (2012) 24 (http://www.meti.go.jp/statistics/tyo/zenkatu/index.html) 2012/10/25 (http://www.mhlw.go.jp/general/seido/josei/kyufukin/a01-1.html) 2012/10/26 (http://www.mhlw.go.jp/stf/shingi/2r9852000001vhvp-att/2r9852000001vhzh.pdf) 2012/10/26 24 8 (http://www.mhlw.go.jp/stf/houdou/ 2r9852000002kb7f.html) 2012/10/28 (http://www.mhlw.go.jp/seisakunitsuite/bunya/koyou roudou/koyou/koyouhoken/ index.html) 2012/10/22 (http://www.mhlw.go.jp/toukei/itiran/roudou/chingin/kouzou/detail/) 2012/10/25 ( ) (http://www.mhlw.go.jp/toukei/list/30-1.html) 2012/10/25 23 (http://www.mhlw.go.jp/wp/hakusyo/kousei/11-2/kousei-data/siryou/sh11010500.html) 2012/10/26 (http://www.stat.go.jp/data/roudou/index.htm) 2012/10/25 29

1 (http://www.city.sendai.jp/kikaku/seisaku/toukei/kokucho/h22/1ji-kihon/toukeihyou.html) 2012/10/31 23 (http://wwwcms.pref.fukushima.jp/download/1/h23shinsaitoukinkyuukoyoutaiou2.pdf) 2012/10/26 (http://miyagi-roudoukyoku.jsite.mhlw.go.jp/jirei toukei/kyujin kyushoku/toukei/ anteisyobetsu kyujinkyusyoku balance.html) 2012/10/15 30