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Curva de Beveridge, Vacantes y Desempleo: Chile 1986-2002.II

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Author Info
Dolly Belani
Pablo García
Ernesto Pastén

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Abstract

In this paper we provide a vacancyindex for Chile for the period 1986 to the second quarter of 2002. This index is calculated using the number of jobs offered in newspapers’ advertisements of the 5 main urban areas. This information, in addition with employment and labor force data, is used to draw and estimate a Beveridge Curve (CB). We used this curve to analyze the sources of unemployment volatility. The stability of the curve along the sample is a signal of the anticyclical trayectory of the unemployment. On the other hand, shifts in this curve allow to conclude that unbalanced shocks have affected the labor market. The main conclusions of this paper are: i) the index is reasonably unbiased, despite of the fact that some statistical problems were not completely corrected; ii) there is no evidence to reject the stability of the CB (or the anticyclical behavior of the unemployment) at the national level during the sample, including the recent period; iii) in the context of an impulse-response analysis, a transitory innovation of vacancies has permanent impact on employment; iv) the index may be considered as a leader indicator of GDP (in one quarter) and employment (in half a year); v) these aggregated results are strongly influenced by the high weight of Santiago (the Capital) over the total; vi) outside the Capital, the CB seems to have been more unstable, specially in Concepción-Talcahuano and Temuco (both located in the South of the country), suffering a shift in the early 90s. However, it is not possible to conclude that these displacements are caused by sample problems in the data, by sectorial shocks or by non-linearity in the employment-vacancies elasticity.

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Paper provided by Central Bank of Chile in its series Working Papers Central Bank of Chile with number 191.

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Date of creation: Nov 2002
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Handle: RePEc:chb:bcchwp:191

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  1. Berman, Eli, 1997. "Help Wanted, Job Needed: Estimates of a Matching Function from Employment Service Data," Journal of Labor Economics, University of Chicago Press, vol. 15(1), pages S251-92, January. [Downloadable!] (restricted)
  2. Wall, Howard J & Zoega, Gylfi, 2002. " The British Beveridge Curve: A Tale of Ten Regions," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 64(3), pages 261-80, July. [Downloadable!] (restricted)
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  3. Laurence Ball & N. Gregory Mankiw, 2002. "The NAIRU in Theory and Practice," Harvard Institute of Economic Research Working Papers 1963, Harvard - Institute of Economic Research. [Downloadable!]
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  4. Gross, Dominique M., 1997. "Aggregate job matching and returns to scale in Germany," Economics Letters, Elsevier, vol. 56(2), pages 243-248, October. [Downloadable!] (restricted)
  5. Olivier Jean Blanchard & Peter Diamond, 1990. "The Beveridge Curve," NBER Reprints 1405, National Bureau of Economic Research, Inc.
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  6. Coles, Melvyn G & Smith, Eric, 1998. "Marketplaces and Matching," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(1), pages 239-54, February.
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  7. Jackman, R & Layard, Richard & Pissarides, C, 1989. "On Vacancies," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 51(4), pages 377-94, November.
  8. Lilien, David M, 1982. "Sectoral Shifts and Cyclical Unemployment," Journal of Political Economy, University of Chicago Press, vol. 90(4), pages 777-93, August. [Downloadable!] (restricted)
  9. Anders Forslund & Alan B. Krueger, 1994. "An Evaluation of the Swedish Active Labor Market Policy: New and Received Wisdom," NBER Working Papers 4802, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 972-90, October. [Downloadable!] (restricted)
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  11. Feve, Patrick & Langot, Francois, 1996. "Unemployment and the business cycle in a small open economy: G.M.M. estimation and testing with French data," Journal of Economic Dynamics and Control, Elsevier, vol. 20(9-10), pages 1609-1639. [Downloadable!] (restricted)
  12. Barbara Petrongolo & Christopher A. Pissarides, 2001. "Looking into the Black Box: A Survey of the Matching Function," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 390-431, June. [Downloadable!] (restricted)
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  13. Katharine G. Abraham & Lawrence F. Katz, 1987. "Cyclical Unemployment: Sectoral Shifts or Aggregate Disturbances?," NBER Working Papers 1410, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  14. Pissarides, Christopher A, 1994. "Search Unemployment with On-the-Job Search," Review of Economic Studies, Blackwell Publishing, vol. 61(3), pages 457-75, July. [Downloadable!] (restricted)
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  15. Katharine G. Abraham, 1987. "Help-Wanted Advertising, Job Vacancies, and Unemployment," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(1987-1), pages 207-248. [Downloadable!]
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