Labor market matching and unemployment in urban China

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1、ChinaEconomicReview24(2013)108–128ContentslistsavailableatSciVerseScienceDirectChinaEconomicReviewLabormarketmatchingandunemploymentinurbanChinaYangLiuGraduateSchoolofEconomics,KyotoUniversity,Yoshida-honmachi,Sakyo-ku,Kyoto,606-8501AsiaPacificInstituteofResearch,6-2-27Nakanoshima,Kita-ku,

2、Osaka,530-6691,JapanarticleinfoabstractArticlehistory:Inthetraditionallaborsupply–demandapproach,unemploymentusuallyresultsfromalackofReceived31March2012labordemandorexcessoflaborsupply.However,inurbanChina,unemploymentcoexistswithaReceivedinrevisedform23October2012conflictingphenomenon,s

3、hortageofworkersinfirms.Inthisstudy,weemployanovelapproachtoAccepted25October2012tacklethisissue,searchandmatchingtheory,theempiricalstudyofwhichhasnotdrawnmuchAvailableonline5November2012attentioninChina.Ourmultiplemodelconsistedofjob-workermatching,jobcreationanddestruction,rural–urbani

4、mmigrationandon-the-jobsearch,andunemploymentchangesinChina.JELclassification:Weusednon-linearestimationandthethree-stageleastsquaresanalysisinthisstudy.WefoundJ63thatmatchingefficiencydeclinedgreatlyduringthe1996–2008period.TheeconometricmodelandJ64simulationresultsindicatedfourkeyfactor

5、sthatledtochangesinChina'sunemploymentlevel:C51matchingefficiency,jobdestruction,productivitygrowth,andjob-searchservices.Finally,byusingC53oureconometricmodel,weidentifiedthereasonsfortheshiftsintheBeveridgecurve.©2012ElsevierInc.Allrightsreserved.Keywords:UnemploymentSearchtheoryVacanci

6、esMatchingefficiencyEconometricmodels1.IntroductionNumerousstudieshavebeenconductedonlabor-marketmatchingandunemploymentindevelopedcountries,theirtheoreticalbackgroundbeingthewidelyusedsearchandmatchingmodel,whichtakesintoaccounttheimperfectinformationandfrictionsprevalentinthelabormarket

7、.Labormarketfrictionsoccurnotonlyindevelopedcountriesbutalsoindevelopingeconomies:economictransitionsandtechnologycatch-upoftenleadtohighjobrotationandworkerreallocation,thusincreasingfrictioninthejob-workermatchingprocess.Quantitativesearchandmatchingstudiesonthela