Shifts in euro area Beveridge curves and their determinants

Abstract

This paper analyses euro area Beveridge curves at the euro area aggregate and country level over the past 25 years. Using an autoregressive distributed lag model, we find a significant outward shift and flattening of the euro area Beveridge curve since the onset of the crisis, but considerable heterogeneity at country level. We test for factors underlying these developments using the local projection method of Jordà (Am Econ Rev 95(1): 2005). Skill mismatch and high shares of construction workers, as well as high home ownership rates appear strong determinants of the outward shifts in Beveridge curves. Higher female participation rates mitigate these effects. JEL Classification: J62, J63, E24, E32

Untitled

“…The Czech economy struggled with short growth and recession periods, which had a major impact on the Beveridge curve shifts that are relatively difficult to trace. This is in accordance with a study of Bonthuis, Jarvis and Vanhala (2016). One of the main findings is that job vacancy rates have improved in many countries, but unemployment rates have remained relatively high or surprisingly have kept rising.…”

Structural unemployment after the crisis in Austria

“…This paper shows that there is a significant shift in the Beveridge curve of the Austrian labor market. While the studies by (Bonthuis et al 2013) or (Bonthuis et al 2015) suggested that there was no shift of the Beveridge curve in Austria after the crisis, we show that a statistically significant shift simply took place later than in other European countries (such as Spain, France, and Portugal).…”

“…In Austria, the Beveridge curve did not seem to change after 2009, contrary to economies struck harder by the financial crisis such as Greece, Italy, Spain, France, and the Eurozone as a whole (see Bonthuis et al (2015)). However, since 2013, a new development can be observed in Austria: rising unemployment rates unaccompanied by changes in vacancy rates.…”

“…Unlike (Bonthuis et al 2015), who focus on Beveridge curves in European countries based on Labor Force Survey (LFS) data, 2 our study focuses solely on the Austrian labor market. Hence, the national definition based on the number of unemployed registered at the Austrian Public Employment Service (AMS) might better reflect all the changes in the Austrian labor market.…”

Har innvandrere bidratt til bedre balanse mellom tilbud av og etterspørsel etter arbeidskraft i det norske arbeidsmarkedet – hva kan en enkel indikator fortelle?

“…Utdannelses-eller kvalifikasjonsmessig og regional mistilpasning anses å vaere viktige årsaker til ineffektive arbeidsmarkeder i mange OECD-og euro-land, spesielt etter finanskrisen i 2008, jf. Haincourt & Mogliani (2012), Zimmer (2012), Morgado, Sequeira, Santos, Ferreira-Lopez & Reis (2016) og Bonthuis, Jarvis & Vanhala (2016).…”