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Unemployment and vacancy in the Hong Kong labour market

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  • Chung Yi Tse
  • Charles Ka Yui Leung
  • Weslie Yuk Fai Chan

Abstract

This paper combines unemployment and vacancy data to analyse the efficiency of the Hong Kong labour market for the period 1976 to 1997. It is confirmed that the negative relationship between unemployment and vacancy, commonly known as the Beveridge curve, applies to the Hong Kong labour market. There was an inward shift of the Beveridge curve around 1982, which implies falling match frictions since then. Systematic evidence is also found that Hong Kong has been close to full employment, for on average, around 80% of unemployment in the period was due to structural and frictional unemployment with only 20% attributable to cyclical unemployment.

Suggested Citation

  • Chung Yi Tse & Charles Ka Yui Leung & Weslie Yuk Fai Chan, 2002. "Unemployment and vacancy in the Hong Kong labour market," Applied Economics Letters, Taylor & Francis Journals, vol. 9(4), pages 221-229.
  • Handle: RePEc:taf:apeclt:v:9:y:2002:i:4:p:221-229 DOI: 10.1080/13504850110054959
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    References listed on IDEAS

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    1. Goldberger, Arthur S, 1989. "Economic and Mechanical Models of Intergenerational Transmission," American Economic Review, American Economic Association, pages 504-513.
    2. Oded Galor & Joseph Zeira, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Oxford University Press, vol. 60(1), pages 35-52.
    3. Solon, Gary, 1992. "Intergenerational Income Mobility in the United States," American Economic Review, American Economic Association, pages 393-408.
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    5. Shorrocks, A F, 1976. "Income Mobility and the Markov Assumption," Economic Journal, Royal Economic Society, vol. 86(343), pages 566-578, September.
    6. Durlauf, S.N. & Cooper, S.J. & Johnson, P.A., 1993. "On the Evolution of Economic Status Across Generations," Working papers 9329, Wisconsin Madison - Social Systems.
    7. Shorrocks, A F, 1978. "The Measurement of Mobility," Econometrica, Econometric Society, vol. 46(5), pages 1013-1024, September.
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    Cited by:

    1. Edward Teo & Shandre M. Thangavelu & Elizabeth Quah, 2005. "SINGAPORE'S BEVERIDGE CURVE: A Comparative Study of the Unemployment and Vacancy Relationship for Selected East Asian Countries," SCAPE Policy Research Working Paper Series 0508, National University of Singapore, Department of Economics, SCAPE.
    2. Leung, Charles Ka Yui & Tse, Chung-Yi, 2017. "Flipping in the housing market," Journal of Economic Dynamics and Control, Elsevier, pages 232-263.
    3. Daisy J. HUANG & Charles Ka Yui LEUNG & Chung-Yi TSE, 2017. "What account for the differences in rent-price ratio and turnover rate? A search-and-matching approach," ISER Discussion Paper 0990, Institute of Social and Economic Research, Osaka University.
    4. Shandre Thangavelu & Hu Guangzhou, 2006. "Lessons from “Benchmark” Countries: Korea & Ireland," SCAPE Policy Research Working Paper Series 0614, National University of Singapore, Department of Economics, SCAPE.
    5. Shandre Thangavelu & Hu Guangzhou, 2006. "Lessons from “Benchmark” Countries: Korea & Ireland," SCAPE Policy Research Working Paper Series 0614, National University of Singapore, Department of Economics, SCAPE.

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