The Natural Beveridge Curve

Katharine Anderson and Thomas Lubik

Richmond Fed Economic Brief, 2026, vol. 26, issue 17

Abstract: The Beveridge curve is a central concept for analyzing the state of the economy and the labor market. We introduce the idea of a natural Beveridge curve, which abstracts from transitory movements and focuses on structural relationships. Analyzing the gap between the actual and natural Beveridge curves gives policymakers a better sense of how much stabilization policy in the labor market can accomplish.

Keywords: business cycles; Employment and labor markets (search for similar items in EconPapers)
Date: 2026
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