An Empirical Analysis on Matching Efficiency of Labor Market in China:Based on Macroeconomic Data
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| Title | An Empirical Analysis on Matching Efficiency of Labor Market in China:Based on Macroeconomic Data
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| Author | Han Hongyun and Liang Haibing |
| Organization | China Academy for Rural Development, Zhejiang University |
| Email | hongyunhan@zju.edu.cn；11120042@zju.edu.cn |
| Key Words | Labor Market; Matching Efficiency; Macroeconomic Data; Empirical Analysis |
| Abstract | Based on macro-data, the matching efficiency of labor market in China is estimated by borrowing Hall method. The empirical analysis indicates that matching efficiency of China's labor market declined from 1996 to 2012, and the average matching efficiency was only 0.558. Since 2000, matching efficiency has remained around 0.5. To ensure the reliability of estimates, meantime, matching efficiency of different market structures was estimated taking into account the deviation of unemployment rates in different market structure, it was shown that the matching efficiency in China is still robust at a lower level. Further analysis shows that the reason for China's labor market inefficiency is the mismatch of labor supply and demand in terms of sex, age, education, and skills. Therefore, Government should play a role in labor market development and structural improvement to get rid of inefficient labor market allocation. |
| Serial Number | WP763 |
| Time | 2014-11-25 |
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