关键词: 匹配方程, 失业率, 岗位空缺, ARDL-UECM模型

Abstract: This paper studies the impact of various factors on the labor market by matching equation, and then explores different effects of the employment in the long term or short term, job vacancy, wage level, interest rate and unemployment allowance on unemployment rate, based on quarterly China data (2004Q1～2014Q4) using ARDL-UECM model. It is found that the three factors of employed population, income and interest rate have inhibitory effect on the unemployment rate, because their elasticity coefficients are always negative; however, the two factors of job vacancies and unemployment allowance have inhibitory effect in the short term, while have facilitating roles in the long time, because their elasticity coefficients are always negative in the short term, and are always positive in the long term. Combining theoretical and empirical results, this paper gives the appropriate policy recommendations.

Key words: Matching Function, Unemployment Rate, Job Vacancy, ARDL-UECM Model