Estimating the Beveridge Curve of Romania between 2004 and 2010

Marinaº Marius-Corneliu, Cristian Socol () and Socol Aura-Gabriela ()
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Marinaº Marius-Corneliu: Academy of Economic Studies, Bucharest, Romania
Socol Aura-Gabriela: Academy of Economic Studies, Bucharest, Romania
Authors registered in the RePEc Author Service: Marius Corneliu Marinas

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 1, 1222-1227

Abstract: The objective of this study is to prove the existence of an inverse relationship between the unemployment rate and the vacancy rate, i.e. the Beveridge curve, in the case of Romania. Estimation of this curve allows the identification of friction and matching process between demand and supply in the labor market. This study is structured in three parts. The first concerns the analysis of theoretical background of the Beveridge curve. In the second part we made the graphic representation of this curve between 2004 and 2010 years. On this basis, we explained why Beveridge curve shifted to inward until 2008 year and to outward when Romanian economy entered into recession. In the third part of paper, we validated the existence of the Beveridge curve in Romania, using a VAR model with two lags.

Keywords: Beveridge curve; VAR model; vacancy rate; labour market; hysteresis. (search for similar items in EconPapers)
JEL-codes: E24 E27 J08 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:11:y:2011:i:1:p:1222-1227

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