On-the-Job Search and the Beveridge Curve

Andrés Fuentes Hutfilter

No 2002/037, IMF Working Papers from International Monetary Fund

Abstract: This paper presents a theoretical and empirical investigation of the role on-the-job search plays in explaining shifts of the unemployment-vacancies relationship (the Beveridge curve). We show that the direction of the shift depends on the parameters of the matching model, regardless of the assumptions made on the relative search effectiveness of employed and unemployed searchers. We estimate a Beveridge Curve equation with a panel of British regions controlling for unobserved aggregate unemployment effects. We find evidence that the rise in on-the-job search in the 1980s has shifted the Beveridge Curve outwards.

Keywords: WP; replacement ratio; Matching models; job search; vacancies; job searcher; unemployment vacancies relationship; steady state unemployment-vacancies relationship; job turnover; Labour Force Survey unemployment count; Unemployment; Labor markets; Employment; Labor force; Unemployment rate (search for similar items in EconPapers)
Pages: 19
Date: 2002-02-01
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Citations: View citations in EconPapers (4)

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