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Random or non-random matching? Implications for the use of the UV 234 curve as a measure of matching effectiveness

Gregg, Paul and Petrongolo, Barbara (1997) Random or non-random matching? Implications for the use of the UV 234 curve as a measure of matching effectiveness. 348. Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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Abstract

The instability of the Beveridge curve in Britain since the mid-50s has been interpreted as revealing a detioration of labour market effectiveness in matching vacancies to unemployed job-seekers. This paper repeats the stability analysis of the matching technology, having relaxed some of the restrictions generally imposed in deriving a Beveridge curve. We explore the robustness of the curve under an essentially continuous-time non-random matching technology. The non-random nature of the matching process is derived from a theoretical standpoint of stock/flow matching technology that excludes interactions between the existing stocks of unmatched unemployed and vacancies. The empirical analysis based on this premise leads to a re-thinking of standard conclusions on matching effectiveness.

Item Type: Monograph (Discussion Paper)
Official URL: http://cep.lse.ac.uk/
Additional Information: © 1997 Gregg, Paul and Petrongolo, Barbara
Library of Congress subject classification: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Departments > Economics
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: 348
Date Deposited: 03 Mar 2008
URL: http://eprints.lse.ac.uk/3676/

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