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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
Ke, Shih-Yen
Keywords: 搜尋與配對模型
Search and matching model
Bayesian estimation
Labor market frictions
Labor wedge
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.
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