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 Title: 勞動市場摩擦與勞動榫—以台灣為例The Labor Market Frictions and the Labor Wedge: Based on Taiwan’s Data Authors: 柯世彥Ke, Shih-Yen Contributors: 吳致謙Wu, Jhih-Chian柯世彥Ke, Shih-Yen Keywords: 搜尋與配對模型貝式估計勞動市場摩擦勞動榫台灣Search and matching modelBayesian estimationLabor market frictionsLabor wedgeTaiwan Date: 2021 Issue Date: 2021-08-04 16:00:05 (UTC+8) Abstract: 我利用Cheremukhin and Restrepo-Echavarria (2014)提供的搜尋與配對模型(search and matching model)作為理論架構，並使用台灣從1981年第一季至2020年第四季的資料進行模型參數的校準(Calibration)與貝式估計(Bayesian estimation)，將參數代入模型後，將勞動榫(Labor wedge)內生化並以三個勞動市場摩擦(配對、議價及離職摩擦)分解其波動，看臺灣勞動榫波動的貢獻主要是來自哪個摩擦，據此來判斷何者是造成勞動榫波動的主因，並且我也用同樣的勞動市場摩擦來分解失業波動，看造成勞動榫與失業波動的主要原因是否一樣。最後，我利用資料得出配對和議價摩擦對造成勞動榫或失業的波動都很重要，離職摩擦則較為不重要，因此，本文實證結果支持Shimer(2009)的想法，理解勞動榫可以洞察自然失業的本質。I used the search and matching model provided by Cheremukhin and Restrepo-Echavarria (2014) as the theoretical framework, and used Taiwan’s data from the first quarter of 1981 to the fourth quarter of 2020. After calibrate and estimate model's parameters, I use three labor market frictions to decompose the labor wedge's fluctuations. Look at which friction is the main contribution of Taiwan's labor wedge's fluctuations. I also use the same labor market frictions to decompose unemployment fluctuations, and see the main contribution for the unemployment fluctuations.Finally, I use Taiwan's data to find that matching and bargaining friction are both important contributions for Taiwan’s labor wedge and unemployment, while separation friction is less important. Therefore, the empirical results in this article support Shimer's (2009) idea. Understanding labor wedge can provide insight into the nature rate of unemployment. Reference: 盧姝璇. (2018). 以數量分析方法探討台灣薪資停滯成因. 經濟論文, 46(4), 519-553.An, S., & Schorfheide, F. (2007). Bayesian analysis of DSGE models. Econometric reviews, 26(2-4), 113-172.Chari, V. V., Kehoe, P. J., & McGrattan, E. R. (2007). Business cycle accounting. Econometrica, 75(3), 781-836.Cheremukhin, A. A., & Restrepo-Echavarria, P. (2014). The labor wedge as a matching friction. European Economic Review, 68, 71-92.Cociuba, S. E., & Ueberfeldt, A. (2015). Heterogeneity and long-run changes in aggregate hours and the labor wedge. Journal of Economic Dynamics and Control, 52, 75-95.Cole, H. L., & Ohanian, L. E. (2002). The US and UK Great Depressions through the lens of neoclassical growth theory. American Economic Review, 92(2), 28-32.Gourio, F., & Rudanko, L. (2014). Customer capital. Review of Economic Studies, 81(3), 1102-1136.Hall, R. E. (2005a). Employment fluctuations with equilibrium wage stickiness. American economic review, 95(1), 50-65.Hall, R. E. (2005b). Job loss, job finding, and unemployment in the US economy over the past fifty years. NBER macroeconomics annual, 20, 101-137.Hall, R. E. (2005c). The labor market and macro volatility: a nonstationary general-equilibrium analysis (No. w11684). National Bureau of Economic Research.Inaba, M., Nutahara, K., & Shirai, D. (2020). What drives fluctuations of labor wedge and business cycles? Evidence from Japan.Kehoe, P., Midrigan, V., & Pastorino, E. (2016). Debt constraints and the labor wedge. American Economic Review, 106(5), 548-53.Mortensen, D. T., & Pissarides, C. A. (1994). Job creation and job destruction in the theory of unemployment. The review of economic studies, 61(3), 397-415.Prescott, E. C. (2004). Why do Americans work so much more than Europeans? (No. w10316). National Bureau of Economic Research.Shimer, R. (2005). The cyclical behavior of equilibrium unemployment and vacancies. American economic review, 95(1), 25-49.Shimer, R. (2009). Convergence in macroeconomics: The labor wedge. American Economic Journal: Macroeconomics, 1(1), 280-97.Takahashi, S. (2014). Heterogeneity and aggregation: Implications for labor-market fluctuations: Comment. American Economic Review, 104(4), 1446-60.Zhang, L. (2018). Credit crunches, individual heterogeneity and the labor wedge. Journal of Macroeconomics, 56, 65-88. Description: 碩士國立政治大學經濟學系108258033 Source URI: http://thesis.lib.nccu.edu.tw/record/#G0108258033 Data Type: thesis Appears in Collections: [經濟學系] 學位論文

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