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The Remarkable Place of the UV-Curve in Economic Theory

  • Rodenburg, Peter

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.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 5823.

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Date of creation: 16 Nov 2007
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Handle: RePEc:pra:mprapa:5823
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  17. Taylor, Jim, 1972. "The Behaviour of Unemployment and Unfilled Vacancies: Great Britain, 1958-71. An Alternative View," Economic Journal, Royal Economic Society, vol. 82(328), pages 1352-65, December.
  18. Topel, Robert H, 1988. "Some Recent Developments in Labor Economics and Their Implications for Macroeconomics: Comment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 20(3), pages 523-26, August.
  19. Abraham, Katharine G, 1986. "Structural/Frictional vs. Deficient Demand Unemployment: Reply," American Economic Review, American Economic Association, vol. 76(1), pages 273-76, March.
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  23. Gujarati, Damodar, 1972. "The Behaviour of Unemployment and Unfilled Vacancies: Great Britain, 1958-71. An Alternative View: Reply," Economic Journal, Royal Economic Society, vol. 82(328), pages 1365-68, December.
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  25. Kniesner, Thomas J, 1988. "Some Recent Developments in Labor Economics and Their Implications for Macroeconomics: Comment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 20(3), pages 526-30, August.
  26. Storer, P, 1994. "Unemployment Dynamics and Labour Market Tightness: An Empirical Evaluation of Matching Function Models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 9(4), pages 389-419, Oct.-Dec..
  27. Bowden, Roger J, 1980. "On the Existence and Secular Stability of u-v Loci," Economica, London School of Economics and Political Science, vol. 47(185), pages 35-50, February.
  28. Gujarati, Damodar, 1972. "The Behaviour of Unemployment and Unfilled Vacancies," Economic Journal, Royal Economic Society, vol. 82(325), pages 195-204, March.
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  30. 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.
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  33. 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 377-94, November.
  34. Arthur J. Hosios, 1990. "On The Efficiency of Matching and Related Models of Search and Unemployment," Review of Economic Studies, Oxford University Press, vol. 57(2), pages 279-298.
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