On-The-Job Search and the Beveridge Curve
AbstractThis paper presents a theoretical and empirical investigation of the role on-the-job search plays in explaining shifts of the unemployment-vacancies relationship (the Beveridge curve). We show that the direction of the shift depends on the parameters of the matching model, regardless of the assumptions made on the relative search effectiveness of employed and unemployed searchers. We estimate a Beveridge Curve equation with a panel of British regions controlling for unobserved aggregate unemployment effects. We find evidence that the rise in on-the-job search in the 1980s has shifted the Beveridge Curve outwards.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 02/37.
Date of creation: 01 Feb 2002
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