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Unemployment and Vacancies in Turkey: The Beveridge Curve and Matching Function

Birol Kanık, Enes Sunel and Temel Taskin

Working Papers from Research and Monetary Policy Department, Central Bank of the Republic of Turkey

Abstract: In this paper, we study the Beveridge curve and the matching function in Turkey. The analysis illustrates that the empirical Beveridge curve for the 2005 : M1-2013 : M2 period posits a negative relationship between unemployment and vacancies. When the sample period is divided into sub-periods around the recent global financial crisis, the unemployment-vacancies pairs are found to follow a counterclockwise trajectory (around the empirical Beveridge curve) during the transition from trough into the recovery. The estimation of the matching function implies that the congestion externality of unemployment on job finding is in line with the literature. Disaggregation of the Beveridge curve suggests that recent labor market reforms were beneficial for the targeted employment groups.

Keywords: Beveridge curve; unemployment; matching function (search for similar items in EconPapers)
JEL-codes: J20 J63 J64 (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-ara and nep-lab
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Journal Article: Unemployment and Vacancies in Turkey: The Beveridge Curve and Matching Function (2014) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:tcb:wpaper:1335

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