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The Replacement of the UV-Curve with a New Measure of Hiring Efficiency

Author

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  • Schager, Nils Henrik

    (Research Institute of Industrial Economics (IFN))

Abstract

In this paper we show that changes in the position of the UV-Curve do not unambiguously reflect changes in labour market adjustment ability. In fact, the UV-Curve is displaced not only when hiring efficiency changes but also when the volume of hiring changes. To identify changes in hiring efficiency, we should use the relation between either the duration of vacancies and the stock of unemployment or, alternatively, the duration of unemployment and the stock of vacancies. These measures are applied to Swedish data and produce interesting new evidence on the hiring efficiency of the labour market in Sweden.

Suggested Citation

  • Schager, Nils Henrik, 1985. "The Replacement of the UV-Curve with a New Measure of Hiring Efficiency," Working Paper Series 149, Research Institute of Industrial Economics.
    • Handle: RePEc:hhs:iuiwop:0149
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    File URL: https://www.ifn.se/wfiles/wp/wp149.pdf
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    References listed on IDEAS

    as
    1. Bent Hansen, 1970. "Excess Demand, Unemployment, Vacancies, and Wages," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(1), pages 1-23.
    2. Barron, John M, 1975. "Search in the Labor Market and the Duration of Unemployment: Some Empirical Evidence," American Economic Review, American Economic Association, vol. 65(5), pages 934-942, December.
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    Cited by:

    1. Eliasson, Gunnar & Lindberg, Thomas, 1986. "Economic Growth and the Dynamics of Wage Determination: A Micro Simulation Study of the Stability Consequences of Deficient Variation in Factor Prices and Micro Structures," Working Paper Series 170, Research Institute of Industrial Economics, revised Aug 1988.

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    More about this item

    Keywords

    UV curve; supply and demand of labour; hiring efficiency;
    All these keywords.

    JEL classification:

    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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