Advanced Search
MyIDEAS: Login

Modelling a Regime-Shifting New Zealand Beveridge Curve

Contents:

Author Info

Abstract

This paper offers new insights into Beveridge curve analysis by modelling the vacancy-unemployment rate relationship within a Markov regime-switching environment in which the probability of curve-shifting is determined endogenously by shift factors. Shift factor candidates include structural factors (such as labour market participation and net migration) and cyclical variables (such as GDP growth and real interest rates). This approach enables us to estimate regime-specific parameters and the role played by shift factors in influencing the transition probabilities of switching between regimes. We illustrate our model with an application to New Zealand.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: ftp://mngt.waikato.ac.nz/RePEc/wai/econwp/0913.pdf
Download Restriction: no

Bibliographic Info

Paper provided by University of Waikato, Department of Economics in its series Working Papers in Economics with number 09/13.

as in new window
Length: 17 pages
Date of creation: 30 Dec 2009
Date of revision:
Handle: RePEc:wai:econwp:09/13

Contact details of provider:
Postal: Private Bag 3105, Hamilton, New Zealand, 3240
Phone: + 64 (0)7 838 4758 (Administrator)
Fax: + 64 7 838 4331
Email:
Web page: http://cms.mngt.waikato.ac.nz/departments/economics
More information through EDIRC

Related research

Keywords: Beveridge curve; regime-switching; New Zealand;

Find related papers by JEL classification:

References

References listed on IDEAS
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.:
as in new window
  1. Christian Dreger & Reinhold Kosfeld, 2006. "On the Stability of the German Beveridge Curve. A Spatial Econometric Perspective," ERSA conference papers ersa06p396, European Regional Science Association.
  2. Razzak, Weshah, 2008. "On The dynamic of search, matching and productivity in New Zealand and Australia," MPRA Paper 8262, University Library of Munich, Germany.
  3. Webster, Elizabeth, 1999. "Labour Market Programs and the Australian Beveridge Curve: 1978 to 1997," The Economic Record, The Economic Society of Australia, vol. 75(231), pages 405-16, December.
  4. Coles, Melvyn G & Smith, Eric, 1998. "Marketplaces and Matching," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(1), pages 239-54, February.
  5. Margaret Stevens, 2007. "New Microfoundations For The Aggregate Matching Function," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 48(3), pages 847-868, 08.
  6. Wall, Howard J & Zoega, Gylfi, 2002. " The British Beveridge Curve: A Tale of Ten Regions," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 64(3), pages 261-80, July.
  7. Hoyt Bleakley & Jeffrey C. Fuhrer, 1997. "Shifts in the Beveridge Curve, job matching, and labor market dynamics," New England Economic Review, Federal Reserve Bank of Boston, issue Sep, pages 3-19.
  8. Brian Silverstone, 2004. "Help Wanted in New Zealand: The ANZ Bank Job Advertisement Series," Working Papers in Economics 04/03, University of Waikato, Department of Economics.
  9. Robert G. Valletta, 2005. "Why has the U.S. Beveridge curve shifted back? new evidence using regional data," Working Paper Series 2005-25, Federal Reserve Bank of San Francisco.
  10. Kenneth Burdett & Shouyong Shi & Randall Wright, 2001. "Pricing and Matching with Frictions," Journal of Political Economy, University of Chicago Press, vol. 109(5), pages 1060-1085, October.
  11. Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780199279173.
  12. Karen Mumford & P Smith, 1997. "The Hiring Function Reconsidered: On Closing the Circle," CEP Discussion Papers dp0359, Centre for Economic Performance, LSE.
  13. Thomas J. Cunningham, 1994. "Review essay on Structural Slumps: the Modern Equilibrium Theory of Unemployment, Interest, and Assets by Edmund S. Phelps, 1994," Economic Review, Federal Reserve Bank of Atlanta, issue Nov, pages 30-33.
  14. Simon Baker & Seamus Hogan & Christopher Ragan, 1996. "Is There Compelling Evidence against Increasing Returns to Matching in the Labour Market?," Canadian Journal of Economics, Canadian Economics Association, vol. 29(4), pages 976-93, November.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Rebecca Craigie & David Gillmore & Nicolas Groshenny, 2012. "Matching workers with jobs:how well is the New Zealand labour market doing?," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 75, pages 3-12, December.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:wai:econwp:09/13. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Brian Silverstone).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.