The impact of news shock of the openings or expansions of large-scale semiconductor plants on local labour market in Japan

IF 1.3 4区经济学 Q3 ECONOMICS

Japan and the World Economy Pub Date : 2024-10-10 DOI:10.1016/j.japwor.2024.101281

Yamaguchi Akira

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引用次数: 0

Abstract

This study investigates the causal effect of news shock of openings or expansions of large-scale semiconductor plants in Japan on local labor market, especially measured by new job opening ratio, using DiD (Difference-in-Difference) applied to prefecture-level data. The results shows news shock of large-scale openings or expansion of semiconductor plants increase new job opening ratio by 0.05 - 0.08pt significantly. To address the endogeneity problems arising from firms’ site selection, I matched control group consist of prefectures where news about the openings or expansion of large semiconductor plants were announced but the amounts of investment were relatively small compared to the treatment group and run DiD analysis, and finally obtained the similar robust results. Furthermore, it has been recently pointed out in econometrics that the heterogeneity of treatment effects in a TWFE (Two Way Fixed Effect or Staggered DiD) analysis in which the timings of treatments differ, can lead to biased estimator. The similar robust results were also obtained in the analysis using CS (Callaway and Sant’Anna) DiD, a type of DiD method that overcomes this bias problem. This paper is in the literature which analyzes the impact of large-scale plant openings (million dollar plant openings) on the local labor market, and contributes to the accumulation of knowledge in this field, which is surprisingly scarce in Japan.

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大型半导体工厂开工或扩建的新闻冲击对日本当地劳动力市场的影响

本研究利用 DiD（差分法）对都道府县数据进行分析，研究了日本大规模半导体工厂开工或扩建的新闻冲击对当地劳动力市场的因果效应，尤其是以新职位空缺率为衡量指标。结果表明，半导体工厂大规模开工或扩建的新闻冲击会显著增加新职位空缺率 0.05 - 0.08pt。为了解决企业选址带来的内生性问题，笔者将公布了大型半导体工厂开工或扩建消息但投资额相对较小的都道府县与处理组进行匹配，并进行 DiD 分析，最终得到了类似的稳健结果。此外，计量经济学最近指出，在处理时间不同的 TWFE（双向固定效应或交错 DiD）分析中，处理效应的异质性会导致估计值的偏差。使用 CS（Callaway 和 Sant'Anna）DiD 方法进行分析也得到了类似的稳健结果，CS DiD 是一种能克服这种偏差问题的 DiD 方法。本文属于分析大规模工厂开业（百万美元工厂开业）对当地劳动力市场影响的文献，有助于积累这一领域的知识。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Japan and the World Economy ECONOMICS-

CiteScore

2.60

自引率

0.00%

发文量

审稿时长

46 days

期刊介绍： The increase in Japan share of international trade and financial transactions has had a major impact on the world economy in general and on the U.S. economy in particular. The new economic interdependence between Japan and its trading partners created a variety of problems and so raised many issues that require further study. Japan and the World Economy will publish original research in economics, finance, managerial sciences, and marketing that express these concerns.