Journal of Labour Economics (노동경제논집)

The Korean Labor Economic Association (한국노동경제학회)
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Estimation of the Matching Function in Korea by Mitigating Endogeneity Problems

내생성 문제를 완화한 한국의 매칭함수 추정

  • Received : 2020.03.01
  • Accepted : 2020.03.31
  • Published : 2020.06.30
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Abstract

This paper estimates a matching function in Korea by using the method of Borowczyk-Martins et al. (2013) in order to mitigate endogeneity problems. The endogeneity was controlled through the GMM estimation by approximating the unobserved matching efficiency with the ARMA(p,q) process. The monthly data from the Economically Active Population Survey and Labor Force Survey at Establishments from June 2009 to December 2019 were used for the estimation. The matching elasticity that indicates the elasticity of new hires with respect to vacancies was estimated to be 0.859. When excluding 2019 samples, which had a large number of direct jobs provided by the government, the matching elasticity was lowered to 0.755, but still higher than that of other countries.

본 논문에서는 Borowczyk-Martins et al.(2013)의 방식을 통해 내생성 문제를 완화하여 한국의 매칭함수를 추정하였다. 관측되지 않는 매칭 효율성을 ARMA(p,q) 과정으로 근사하고 일반적률(GMM) 추정법으로 내생성을 통제하였다. 2009년 6월부터 2019년 12월까지의 경제활동인구조사와 사업체노동력조사의 월 자료를 사용하여 한국의 매칭함수를 추정한 결과, 빈 일자리에 대한 채용의 탄력성을 나타내는 매칭 탄력성은 0.859로 나타났다. 정부의 직접 일자리 제공이 많았던 2019년 표본을 제외하고 추정한 경우 매칭 탄력성은 0.755로 낮아졌으나, 여전히 다른 국가의 매칭 탄력성보다는 높게 나타났다.

Keywords

References

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