Template-type: ReDIF-Paper 1.0
Author-Name: Hiroaki Miyamoto
Author-Name-First: Hiroaki
Author-Name-Last: Miyamoto
Author-Email: hmiyamot@iuj.ac.jp
Author-Workplace-Name: International University of University
Author-Workplace-Homepage: http://www.iuj.ac.jp/
Title: Cyclical Behavior of Unemployment and Job Vacancies in Japan
Abstract: This paper studies whether the Mortensen and Pissarides (MP) search and matching model can explain the observed labor market fluctuations in Japan. Although the MP model correctly predicts the observed regularities in the cyclical fluctuations of unemployment and job vacancies, it cannot generate the observed unemployment and vacancy fluctuations in response to productivity shock of reasonable size. I incorporate separation shocks and training costs into the MP model, finding that their inclusions do not significantly improve the ability of the model to explain the cyclical volatility of unemployment and vacancies observed in the Japanese labor market. This paper also provides the business-cycle properties of the Japanese labor market.
Classification-JEL: E24, E32, J64
Length: 26 pages
Creation-Date: 2009-12
Number: EMS_2009_17
File-URL: https://www.iuj.ac.jp/workingpapers/index.cfm?File=EMS_2009_17.pdf
File-Format: Application/pdf
File-Function: First version, 2009
File-Size: 342KB
Keywords: Search; Matching, Business Cycles, Japanese Labor Market
Handle: RePEc:iuj:wpaper:EMS_2009_17