This paper shows how one can interpret the joint movements of wages, unemployment and vacancies in the Phillips and Beveridge spaces to learn about the origins of the movements in unemployment. The view of the labor market underlying the conceptual framework emphasizes flows, matching, and Nash bargaining determination of wages. The approach is used to analyze the movements in unemployment in the US, in the UK and in Germany over the last twenty years.
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number
3168.
Length: Date of creation: Nov 1989 Date of revision: Handle: RePEc:nbr:nberwo:3168
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