Academic Literature

Beveridge Curve “Shift” in US – There is no shift to begin with says Federal Reserve Bank of Cleveland

Observers have followed the Beveridge curve during the recession and the recovery to glean some insight into potential structural changes in the labor market. Whether or not a shift implies an actual structural change—specifically, a decline in the matching efficiency of the labor market—is still debatable. However, one thing is clear: there is no shift to begin with. We believe that this debate and the ensuing evidence showed us that inferences about complicated and ill-defined concepts such a structural change in the labor market cannot be made by just looking for a break in the simple (and reduced-form) empirical relationships between macroeconomic aggregates in the midst of a deep and long recession.

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Chosen excerpts by Job Market Monitor. Read the whole story at Reassessing the Beveridge Curve “Shift” Four Years Later :: Murat Tasci and Jessica Ice :: Economic Trends :: 09.05.14 :: Federal Reserve Bank of Cleveland.

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  1. Pingback: US – The rightward shift in the Beveridge curve | Job Market Monitor - August 17, 2015

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