The remarkable transformation of the UV curve in economic theory

Cyclical Unemployment, Structural Unemployment

“…Taking equality as the measure of full employment, regional mismatch studies following the approach of Dow and Dicks-Mireaux (1958) discussed above, have considered the differences between unemployment and vacancy levels across regions. Drawing on the presentation in Rodenburg (2011), based on Cheshire (1973), the logic is based on the 36 Lazear and Spletzer (2012) analyze the pattern of the unemployment-vacancy ratio across industries and occupations as a measure of mismatch. They conclude that "the analysis presented here shows that the most recent recession has not resulted in any long-run increase in mismatch across industries or occupations."…”

“…Nor does the paper consider issues of inflation or inflation risk or the analysis of an Okun gap. The hiring process is analyzed without explicit discussion of wage setting.10 For an intellectual history of the curve, seeRodenburg (2011).…”

Job openings continue to rise in 2013

“…Taking equality as the measure of full employment, regional mismatch studies following the approach of Dow and Dicks-Mireaux (1958) discussed above, have considered the differences between unemployment and vacancy levels across regions. Drawing on the presentation in Rodenburg (2011), based on Cheshire (1973), the logic is based on the 36 Lazear and Spletzer (2012) analyze the pattern of the unemployment-vacancy ratio across industries and occupations as a measure of mismatch. They conclude that "the analysis presented here shows that the most recent recession has not resulted in any long-run increase in mismatch across industries or occupations."…”

“…The hiring process is analyzed without explicit discussion of wage setting. 10 For an intellectual history of the curve, see Rodenburg (2011).…”

Structural Unemployment

“…The term "matching function" has two different uses in the literature. In empirical work, it refers to hiring; in theoretical work, to a meeting of a worker and vacancy, which may or may not result in a hire.6 For an intellectual history of the Beveridge curve, seeRodenburg (2011).…”