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- W1559924575 abstract "The Japanese labor market displays U-shaped unemployment and separation rates, and declining job-finding rates as workers age. Traditional infinite horizon search models of the labor market cannot account for such patterns. We develop a life-cycle search and matching model that features random match quality and incorporates elements capturing several main characteristics of the Japanese labor market. We show that the model, calibrated for Japan, replicates the life-cycle properties of the data. Our model, following an empirically plausible productivity drop, produces changes in the steady state levels of the unemployment and finding rates similar in magnitude to those observed in Japan since the 1980s." @default.
- W1559924575 created "2016-06-24" @default.
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- W1559924575 date "2011-04-01" @default.
- W1559924575 modified "2023-09-27" @default.
- W1559924575 title "Life-Cycle Search, Match Quality and Japan's Labor Flow" @default.
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