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The Remarkable Place of the UV-Curve in Economic Theory

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  • Rodenburg, Peter

Abstract

The purpose of this paper is to provide an analysis of the impact the UV-curve had on economic theory and to provide an account of the subsequent radical changes in its place and role over the decades since its first appearance in 1958. The paper traces the historical development of the UV-curve and argues that the role of the UV-curve has changed from a measuring device to a graphical representation of full employment to an axiom necessary for matching models of unemployment. This changing role is best understood in the light of a paradigmatic change from Keynesianism to neoclassical search theory.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 5823.

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Date of creation: 16 Nov 2007
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Handle: RePEc:pra:mprapa:5823

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Keywords: UV-curve; Beveridge-curve; Theories of Unemployment; UV-analysis; Matching models; History of Economic Thought;

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  1. Diamond, Peter A, 1982. "Wage Determination and Efficiency in Search Equilibrium," Review of Economic Studies, Wiley Blackwell, vol. 49(2), pages 217-27, April.
  2. Petrongolo, Barbara & Pissarides, Christopher, 2000. "Looking Into The Black Box: A Survey Of The Matching Function," CEPR Discussion Papers 2409, C.E.P.R. Discussion Papers.
  3. Paul Gregg & Barbara Petrongolo, 1997. "Random or Non-Random matching? Implications for the use of the UV 234 curve as a measure of matching effectiveness," CEP Discussion Papers dp0348, Centre for Economic Performance, LSE.
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Cited by:
  1. Kasrin Zein & Lang Guenter, 2013. "Estimating the Beveridge Curve of Egypt: An Econometric Study for the Period 2004 to 2010," Review of Middle East Economics and Finance, De Gruyter, vol. 8(3), pages 1-16, January.
  2. Cristina Lincaru, 2010. "Reginal Mismatch Tendencies In Romania-Evidence From Beveridge Curve," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 4(2), pages 32-61, DECEMBER.

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