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A Beveridge curve decomposition for Austria: what drives the unemployment rate?

Michael Christl ()

No 296, GLO Discussion Paper Series from Global Labor Organization (GLO)

Abstract: The Austrian Beveridge curve shifted in 2014, leading to ongoing academic discussions about the reasons behind this shift. While some have argued that the shift was caused by a supply shock due to labour market liberalization, others have stated that matching efficiency decreased. Using a new decomposition method, combined with detailed labour market flow data, we are the first to disentangle supply-side, demand-side and matching factors, which could potentially cause a shift in the Beveridge curve in Austria. We find empirical evidence to confirm that the increase in the unemployment rate in Austria after 2011 can indeed be attributed to a supplyside shock. But, contrary to other research, our analysis shows that the shift in the Beveridge curve after 2014 was mainly caused by a decrease in matching efficiency, indicating a rising mismatch problem in the Austrian labour market.

Keywords: Beveridge curve; crisis; mismatch; unemployment; structural unemployment; vacancies (search for similar items in EconPapers)
JEL-codes: J62 J63 E24 E32 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-lab and nep-mac
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https://www.econstor.eu/bitstream/10419/190975/1/GLO-DP-0296.pdf (application/pdf)

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Working Paper: A Beveridge curve decomposition for Austria: What drives the unemployment rate? (2019) Downloads
Working Paper: A beveridge curve decomposition for Austria: What drives the unemployment rate? (2019) Downloads
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