Long-term unemployment and the shifting U–V curve

Budd, Alan; Levine, Paul; Smith, Peter N.

doi:10.1016/0014-2921(87)90043-2

Cited by 25 publications

(8 citation statements)

References 3 publications

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“…Labor turnover, as in hires and separations, includes job-to-job transitions. This is in contrast toBudd et al (1987) andBarnichon and Figura (2010) which define the Beveridge curve in terms of the flow-steady-state of unemployment in which inflows into and outflows from unemployment are equal.…”

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confidence: 91%

“…Other cross-country analyses of these movements in the (u,v)-curve areBudd et al (1987) andBouvet (2012) for example.26 The replication files to Elsby, Hobijn, and Şahin (2010, figure 5) include results for a fully demographically adjusted unemployment rate. These results suggest that the adjusted for the 2010 composition of the U.S. labor force the U.S. unemployment rate would have been a bit more than 2 percentage points lower than the published number.…”

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confidence: 99%

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Beveridge Curve Shifts across Countries since the Great Recession

Hobijn

Şahin²

2013

ERWP

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We document the shift in the Beveridge curve in the U.S. since the Great Recession. We argue that a decline in quits, the relatively poor performance of the construction sector, and the extension of unemployment insurance benefits have largely driven this shift. We then introduce a method to estimate fitted Beveridge curves for other OECD countries for which data on vacancies and employment by job tenure are available. We show that Portugal, Spain, and the U.K. also experienced rightward shifts in their Beveridge curves. Besides the U.S., these are among the countries with the highest house price and construction employment declines in our sample.

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confidence: 91%

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confidence: 99%

Beveridge Curve Shifts across Countries since the Great Recession

Hobijn

Şahin²

2013

ERWP

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“…Cause of shift Bowers et al (1970) Combination of factors Gujarati (1972a) Redundancy Payment Act (1965), National Insurance Act (1966) Taylor (1972) 'Labour shake out' (labour dishoarding) Foster (1973) Various reasons Foster (1974) Increase in 1940s birth rates Evans (1975) Increase in structural unemployment Evans (1977) Fluctuations in registered unemployment and registered vacancies Berg (1982) Increase in female labour supply and geographical spreading of labour force Budd et al (1987) Deterioration of human capital (due to long-term unemployment) Jackman et al (1989) Decrease in search intensity Wall and Zoega (2002) Business cycles 16 Bowers et al (1970), Gujarati (1972aGujarati ( , 1972bGujarati ( , 1973, Taylor (1972), Foster (1973, Knight and Wilson (1974), Evans (1975Evans ( , 1977, Peel (1975, 1977), Warren (1977), Parikh (1977), and Bewley (1979), almost all in The Economic Journal and Applied Economics.…”

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confidence: 99%

The remarkable transformation of the UV curve in economic theory

Rodenburg¹

2011

The European Journal of the History of Economic Thought

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“…It prevents the labour market from clearing and persistent unem-ployment is the result. Researches, in different West European countries, that point at an increasing ratio of long-term to total unemployment (Budd et al 1987;Hughes & Hutchinson 1988), are striking examples to illuminate differences in labour market position between insiders and outsiders. The Dutch labour market situation also confirms those developments (see for example, Ministry of Social Affairs and Employment 1989).…”

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confidence: 99%