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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.

Suggested Citation

  • Rodenburg, Peter, 2007. "The Remarkable Place of the UV-Curve in Economic Theory," MPRA Paper 5823, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:5823
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    References listed on IDEAS

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    More about this item

    Keywords

    UV-curve; Beveridge-curve; Theories of Unemployment; UV-analysis; Matching models; History of Economic Thought;
    All these keywords.

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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