Nonparametric Estimation of Matching Efficiency and Mismatch in Labor Markets via Public Employment Security Offices in Japan, 1972-2024
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arXiv
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| Format: | Preprint |
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2024
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| _version_ | 1866916544147095552 |
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| author | Otani, Suguru |
| author_facet | Otani, Suguru |
| contents | I examine changes in matching efficiency and elasticities in Japan's labor market via Hello Work for unemployed workers from January 1972 to April 2024 using a nonparametric identification approach by y Lange and Papageorgiou (2020). I find a declining trend in matching efficiency, consistent with decreasing job and worker finding rates. The implied match elasticity with respect to unemployment is 0.5-0.9, whereas the implied match elasticity with respect to vacancies varies between -0.4 and 0.4. Decomposing aggregate data into full-time and part-time ones, I find that the sharp decline of matching efficiency after 2015 shown in the aggregate trend is driven by the decline of both full-time and part-time ones. Second, I extend the mismatch index proposed by Sahin et al (2014) to the nonparametric version and develop the computational methodology. I find that the mismatch across occupations is more severe than across prefectures and the original Cobb-Douglas mismatch index is underestimated. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2407_20931 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Nonparametric Estimation of Matching Efficiency and Mismatch in Labor Markets via Public Employment Security Offices in Japan, 1972-2024 Otani, Suguru General Economics Economics I examine changes in matching efficiency and elasticities in Japan's labor market via Hello Work for unemployed workers from January 1972 to April 2024 using a nonparametric identification approach by y Lange and Papageorgiou (2020). I find a declining trend in matching efficiency, consistent with decreasing job and worker finding rates. The implied match elasticity with respect to unemployment is 0.5-0.9, whereas the implied match elasticity with respect to vacancies varies between -0.4 and 0.4. Decomposing aggregate data into full-time and part-time ones, I find that the sharp decline of matching efficiency after 2015 shown in the aggregate trend is driven by the decline of both full-time and part-time ones. Second, I extend the mismatch index proposed by Sahin et al (2014) to the nonparametric version and develop the computational methodology. I find that the mismatch across occupations is more severe than across prefectures and the original Cobb-Douglas mismatch index is underestimated. |
| title | Nonparametric Estimation of Matching Efficiency and Mismatch in Labor Markets via Public Employment Security Offices in Japan, 1972-2024 |
| topic | General Economics Economics |
| url | https://arxiv.org/abs/2407.20931 |