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The Rise in Danish Unemployment: Reallocation or Mismatch?

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Author Info

  • Karsten Albæk

    (Institute of Economics, University of Copenhagen)

  • Henrik Hansen

    (The Royal Veterinary and Agricultural University, Copenhagen)

Abstract

Two key relations in theoretical work on labor market flows are analyzed; the hiring function and the uv-curve. The relations are identified in a cointegrated VAR-model framework. The system comprising unemployment, vacancies and hirings is driven by a stochastic trend in the vacancies, corresponding to the status of vacancies as the driving force in models of labor market flows. The drift in the relations is modeled by smooth transition functions and is identified as increased mismatch problems in the Danish labor market as opposed to increased structural change.

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File URL: http://www.econ.ku.dk/english/research/publications/wp/1999/9915.pdf/
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Bibliographic Info

Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 99-15.

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Length: 21 pages
Date of creation: Jul 1999
Date of revision:
Handle: RePEc:kud:kuiedp:9915

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Keywords: hiring function; UV-curve; cointegrated VAR-Model; smooth transition functions; mismatch;

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Cited by:
  1. Aki Kangasharju & Sanna-Mari Hynninen & Jaakko Pehkonen, 2006. "Regional Matching Frictions and Aggregate Unemployment," Discussion Papers, Government Institute for Economic Research Finland (VATT) 383, Government Institute for Economic Research Finland (VATT).
  2. Heidi Soininen, 2007. "Finnish Evidence of Changes in Labor Market Matching," Finnish Economic Papers, Finnish Economic Association, Finnish Economic Association, vol. 20(1), pages 57-71, Spring.

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