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Estimating a Search and Matching Model of the Ag-gregate Labor Market in Japan

Ching-Yang Lin () and Hiroaki Miyamoto
Additional contact information
Ching-Yang Lin: International University of University, http://www.iuj.ac.jp/

No EMS_2013_09, Working Papers from Research Institute, International University of Japan

Abstract: This paper studies how well a simple search and matching model can describe aggregate Japanese labor market dynamics in a full information setting. We develop a discrete-time search and matching model with a convex vacancy posting cost and three shocks: productivity, separation, and mark-up shocks. We use the model as a data-generating process for our empirical analysis and estimate it by using Bayesian methods. The model is successful in replicating the behavior of unemployment and vacancies in Japan. However, we also find that the success of the model relies on shock processes that are not empirically plausible.

Keywords: Search and matching model; Unemployment; Bayesian Estimation; Japanese labor market (search for similar items in EconPapers)
JEL-codes: C11 C51 E24 J64 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2013-07
New Economics Papers: this item is included in nep-dge and nep-lab
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https://www.iuj.ac.jp/workingpapers/index.cfm?File=EMS_2013_09.pdf First version, 2013 (application/pdf)

Related works:
Working Paper: Estimating a Search and Matching Model of the Aggregate Labor Market in Japan (2012) Downloads
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