Our findings in the present paper may be briefly summarized as follows:
1) At all age levels, the tendency is quite strong for workers to be recruited within the same industrial category.
2) From various points of view, S and B form highly compact markets. This implies that it is meaningful to treat them independently from other markets.
3) The interflow of labor from agriculture (A) to manufacturing (M) sectors seem most frequent on inter-generation level. The interaction between M and C (service sector), on the other hand, is mostly confined to either white-collar or managerial workers of relatively large firms.
4) With respect to the interactions among manufacturing labor, one may argue that blue-collar workers seldom mix with white-collar workers.
5) In terms of Japan-U.S. comparison, there seems to be a moderate degree of similarity in the pattern of labor flows among industries. However, the general level of labor mobility in Japan is much lower than that in the United States.
6) Finally, our findings do not contradict with the hypothesis that the manufac-turing labor market is divided into two parts; in fact, M1 is the most self-contained group from which an upward transfer is comparatively difficult, although one cannot claim the reverse. One might even make a case for treating the workers in small firms to be somewhat heterogeneous from those in larger companies. This impression is reinforced when one remembers that small-firm workers have fairly high inclination to become petit bourgeoisie and that the latter have shown a very singular behavior. Nonetheless, it seems yet premature on the basis of our data to affirm that mobility in the market has been hindered by some institutional forces. There is no particular indication, for instance, that the interflows between large- and medium-sized firms have been prohibitive. The impact of a highly elastic supply of labor has been most influential in damping the general level of labor mobility rather than in creating obstacles to certain types of labor mobility.

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The main purpose of this paper is to show firstly some theoretical framework of how net worth can be introduced into the traditional demand theory, and analyze how the effect of net worth affects other effects of income and prices on the quantity to be demanded, and secondly to estimate parameters of the demand functions for automobiles.
The analysis in this paper shows alternative models of the Slutsky equation when we introduce net worth and that the income effect in these models differs from the traditional case. Building alternative models of demand functions for passenger cars we have fitted the models to the data of passenger cars in the United States.
The analysis in this paper shows alternative models of the Slutsky equation when we introduce net worth and that the income effect in these models differs from the traditional case. Building alternative models of demand functions for passenger cars we have fitted the models to the data of passenger cars in the United States. Main results are that comparing our models of demand function with traditional ones, the income effect seems smaller, the own-price effect seems smaller in absolute value and the dynamic rate of adjustment seems also smaller.
We also tested a model which introduces liquid assets rather than networth, but the empirical results show that no improvement is obtained.
The fits of demand functions to data are fairly good and estimated values of the stock of passenger cars can be said to be fairly close to actual values. The coefficient of net worth, i.e., the elasticity of the demand with respect to net worth is significant statistically in the case of static demand functions, but in dynamic form it turned out rather erratic. The standard error of a regression coefficient of demand functions seems to depend upon also the period of data surveyed, and demand functions were fitted to different period separately.

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