The Beveridge Curve

Eran Yashiv (yashiv@post.tau.ac.il)

No 2479, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: The Beveridge curve depicts a negative relationship between unemployed workers and job vacancies, a robust finding across countries. The position of the economy on the curve gives an idea as to the state of the labour market. The modern underlying theory is the search and matching model, with workers and firms engaging in costly search leading to random matching. The Beveridge curve depicts the steady state of the model, whereby inflows into unemployment are equal to the outflows from it, generated by matching.

Keywords: wage inflation; vacancies; unemployment; Phillips curve; matching function; job search; business cycle (search for similar items in EconPapers)
JEL-codes: E24 E32 J63 J64 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2006-12
New Economics Papers: this item is included in nep-dge, nep-lab and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Published - published in: L. Blume and S. N. Durlauf (eds), The New Palgrave Dictionary of Economics, 2nd edition, Palgrave Macmillan, 2008

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Related works:
Working Paper: The Beveridge Curve (2007)
Working Paper: The Beveridge Curve (2007)
Working Paper: The Beveridge curve (2007)
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