An Estimated Search and Matching Model of the Japanese Labor Market
Ching-Yang Lin () and
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Ching-Yang Lin: International University of University, http://www.iuj.ac.jp/
No EMS_2014_02, Working Papers from Research Institute, International University of Japan
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 markup 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: 33 pages
New Economics Papers: this item is included in nep-dge, nep-lab and nep-mac
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https://www.iuj.ac.jp/workingpapers/index.cfm?File=EMS_2014_02.pdf First version, 2014 (application/pdf)
Journal Article: An estimated search and matching model of the Japanese labor market (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:iuj:wpaper:ems_2014_02
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