Beveridge Curve

Eran Yashiv

doi:10.1057/978-1-349-95189-5_2449

Beveridge Curve

Eran Yashiv

School of Economics

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

Abstract

The Beveridge curve depicts a negative relationship between unemployed workers and job vacancies, a robust finding across countries. The position of the economy on the curve gives an idea as to the state of the labour market. The modern underlying theory is the search and matching model, with workers and firms engaging in costly search leading to random matching. The Beveridge curve depicts the steady state of the model, whereby inflows into unemployment are equal to the outflows from it, generated by matching.

Original language	English
Title of host publication	The New Palgrave Dictionary of Economics, Third Edition
Publisher	Palgrave Macmillan
Pages	923-926
Number of pages	4
ISBN (Electronic)	9781349951895
ISBN (Print)	9781349951888
DOIs	https://doi.org/10.1057/978-1-349-95189-5_2449
State	Published - 1 Jan 2018

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth

Keywords

Beveridge curve
Beveridge, W. H.
Business cycle
Excess demand and supply
Frictions
Information costs
Job search
Matching function
Microfoundations
Phillips curve
Unemployment
Vacancies
Wage inflation

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10.1057/978-1-349-95189-5_2449

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Beveridge Curve

Abstract

UN SDGs

Keywords

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