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Job Openings, Hirings, and Unmet Demand: A New Approach to the Matching Function and the Beveridge Curve

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  • Farm, Ante

    () (Swedish Institute for Social Research, Stockholm University)

Abstract

Firms create ‘vacancies’ in one sense (recruitment processes) in order to avoid ‘vacancies’ in another sense (unmet demand). The paper clarifies the different roles of these two concepts in labour market analysis, not only when interpreting Beveridge curves and matching functions, but also when analysing the effect of recruitment problems on employment at the firm level.

Suggested Citation

  • Farm, Ante, 2000. "Job Openings, Hirings, and Unmet Demand: A New Approach to the Matching Function and the Beveridge Curve," Working Paper Series 8/2000, Stockholm University, Swedish Institute for Social Research.
  • Handle: RePEc:hhs:sofiwp:2000_008
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    References listed on IDEAS

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    1. Christopher A. Pissarides & Barbara Petrongolo, 2001. "Looking into the Black Box: A Survey of the Matching Function," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 390-431, June.
    2. Nickell, S.J., 1987. "Dynamic models of labour demand," Handbook of Labor Economics,in: O. Ashenfelter & R. Layard (ed.), Handbook of Labor Economics, edition 1, volume 1, chapter 9, pages 473-522 Elsevier.
    3. Thirlwall, A P, 1969. "Types of Unemployment: With Special Reference to 'Non Demand-Deficient' Unemployment in Great Britain," Scottish Journal of Political Economy, Scottish Economic Society, vol. 16(1), pages 20-49, February.
    4. Katharine G. Abraham, 1987. "Help-Wanted Advertising, Job Vacancies, and Unemployment," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(1), pages 207-248.
    5. Lawrence F. Katz & Alan B. Krueger, 1999. "The High-Pressure U.S. Labor Market of the 1990s," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 30(1), pages 1-88.
    6. Charles Holt & Martin David, 1966. "The Concept of Job Vacancies in a Dynamic Theory of the Labor Market," NBER Chapters,in: The Measurement and Interpretation of Job Vacancies, pages 73-110 National Bureau of Economic Research, Inc.
    7. van Ours, J.C. & Ridder, G., 1992. "Vacancies and recruitment of new employees," Other publications TiSEM 9acc708a-0885-46a2-aef5-7, Tilburg University, School of Economics and Management.
    8. Mortensen, Dale T. & Pissarides, Christopher A., 1999. "New developments in models of search in the labor market," Handbook of Labor Economics,in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 39, pages 2567-2627 Elsevier.
    9. Bent Hansen, 1970. "Excess Demand, Unemployment, Vacancies, and Wages," The Quarterly Journal of Economics, Oxford University Press, vol. 84(1), pages 1-23.
    10. W. Thomson, 1966. "Collection and Use of Job Vacancy Data in Canada," NBER Chapters,in: The Measurement and Interpretation of Job Vacancies, pages 173-194 National Bureau of Economic Research, Inc.
    11. Pissarides, Christopher A, 1984. "Search Intensity, Job Advertising, and Efficiency," Journal of Labor Economics, University of Chicago Press, vol. 2(1), pages 128-143, January.
    12. van Ours, Jan & Ridder, Geert, 1992. "Vacancies and the Recruitment of New Employees," Journal of Labor Economics, University of Chicago Press, vol. 10(2), pages 138-155, April.
    13. Jackman, R & Layard, Richard & Pissarides, C, 1989. "On Vacancies," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 51(4), pages 377-394, November.
    14. Pissarides, Christopher A, 1985. "Short-run Equilibrium Dynamics of Unemployment Vacancies, and Real Wages," American Economic Review, American Economic Association, vol. 75(4), pages 676-690, September.
    15. Oliver Jean Blanchard & Peter Diamond, 1989. "The Beveridge Curve," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(1), pages 1-76.
    16. Abraham, Katharine G, 1983. "Structural-Frictional vs. Deficient Demand Unemployment: Some New Evidence," American Economic Review, American Economic Association, vol. 73(4), pages 708-724, September.
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    More about this item

    Keywords

    Vacancies; unemployment; Beveridge curve; matching function; search effectiveness;

    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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