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.Full text not available from this repository.
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)|
|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
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