The Replacement of the UV-Curve with a New Measure of Hiring Efficiency
AbstractIn this paper we show that changes in the position of the UV-Curve do not unambiguously reflect changes in labour market adjustment ability. In fact, the UV-Curve is displaced not only when hiring efficiency changes but also when the volume of hiring changes. To identify changes in hiring efficiency, we should use the relation between either the duration of vacancies and the stock of unemployment or, alternatively, the duration of unemployment and the stock of vacancies. These measures are applied to Swedish data and produce interesting new evidence on the hiring efficiency of the labour market in Sweden.
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Bibliographic InfoPaper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 149.
Length: 57 pages
Date of creation: Dec 1985
Date of revision:
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Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
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UV curve; supply and demand of labour; hiring efficiency;
Find related papers by JEL classification:
- J63 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Turnover; Vacancies; Layoffs
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hansen, Bent, 1970. "Excess Demand, Unemployment, Vacancies, and Wages," The Quarterly Journal of Economics, MIT Press, vol. 84(1), pages 1-23, February.
- Barron, John M, 1975. "Search in the Labor Market and the Duration of Unemployment: Some Empirical Evidence," American Economic Review, American Economic Association, vol. 65(5), pages 934-42, December.
- Eliasson, Gunnar & Lindberg, Thomas, 1986. "Economic Growth and the Dynamics of Wage Determination: A Micro Simulation Study of the Stability Consequences of Deficient Variation in Factor Prices and Micro Structures," Working Paper Series 170, Research Institute of Industrial Economics, revised Aug 1988.
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