SINGAPORE'S BEVERIDGE CURVE: A Comparative Study of the Unemployment and Vacancy Relationship for Selected East Asian Countries

Edward Teo, Shandre M. Thangavelu and Elizabeth Quah
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Edward Teo: Ministry of Manpower, Singapore
Shandre M. Thangavelu: Department of Economics, National University of Singapore
Elizabeth Quah: Ministry of Manpower, Singapore

SCAPE Policy Research Working Paper Series from National University of Singapore, Department of Economics, SCAPE

Abstract: This paper explores the relationship between unemployment (U) and job vacancies (V) in the Singapore labour market. Empirical analysis using the framework of the UV Curve (also known as the Beveridge Curve) indicates that Singapore’s labour market appears to have improved in its matching efficiency as compared to other East-Asian countries. However, detailed study of Beveridge Curve for the Singapore economy reveals that it has become more inelastic since the Asian crisis, thereby suggesting that the labour market is less responsive in recent years. This might suggest the possibility that employers are now more cautious and selective in their employment decisions.

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Date: 2005-05
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