The Recent Evolution of the U.S. Beveridge Curve: Evidence from the ARDL Approach
Journal Title: Review of Economics & Finance - Year 2016, Vol 6, Issue 3
Abstract
Using a search and match model of employment, and labor market data from 2000 to the present, this paper provides updated empirical evidence of the U.S. Beveridge Curve – an inverse unemployment-vacancy (UV) relationship - for the periods before and after the 2007-2009 recession. Using Job Openings and Labor Turnover Survey (JOLTS) data and an enhanced econometric technique - the autoregressive distributed lag (ARDL) approach, our results confirm the existence of the Beveridge Curve for the U.S.. We also find empirical evidence of a rightward shift in the U.S. Beveridge Curve following the Great Recession, potentially indicating increases in labor market mismatch or structural frictions in the U.S. labor market.
Authors and Affiliations
Richard Raines, Jungho Baek
Keywords
Related Articles
- EP ID EP259747
- DOI -
- Views 126
- Downloads 0
The Recent Evolution of the U.S. Beveridge Curve: Evidence from the ARDL Approach
Using a search and match model of employment, and labor market data from 2000 to the present, this paper provides updated empirical evidence of the U.S. Beveridge Curve – an inverse unemployment-vacancy (UV) relationship...
An Integrated Model for the Cost-Minimizing Funding of Corporate Activities over Time
To enhance the value of a firm, the firm’s management must attempt to minimize the total discounted cost of financing over a planning horizon. Unfortunately, the variety of sources of funds and the constraints that may b...
Stock Market Integration and Financial Crises: Evidence from Chinese Sectoral Portfolios
This paper assesses China's integration with the global stock market during crisis and non-crisis periods within a two-beta Capital Asset Pricing Model framework. We obtain timevarying global and national systematic risk...
Exchange Rate, Cross Elasticities Between Exports and Imports and Current Account Sustainability: The Spanish Case
This paper presents an analytical reformulation of the traditional approach to current account sustainability. We adopt a perspective according to which the independence of GDP and exchange rates cannot be postulated in...
Analysis of Private Socially Responsible Investment: The Impact of Personal Concern with Corporate Social Responsibility
Are many years that academics and professionals dealing with the so-called socially responsible investment (SRI). Yet, still it persists today the need of a better knowledge of personal reasons underlying the investment...