The Beveridge Curve in the OECD. Before and after the great recession

Sergio Destefanis and Giuseppe Mastromatteo

No 5, Working Papers from Department of the Treasury, Ministry of the Economy and of Finance

Abstract: This paper analyses the Beveridge Curve across nine OECD countries from 1985 to 2012. Besides allowing for some customary labour-market institutions, we assess the role of various kinds of structural factors (technological progress, globalisation, oil prices) and of the current recession on the Curve. Significant institutional variables include unemployment benefits, the tax wedge, active labour-market policies and employment protection legislation (the latter improving the unemployment-vacancies trade-off). Technological progress (R&D intensity) shifts the Curve outwards, producing evidence in support of a creative destruction effect. Globalisation and unfavourable oil price shocks also shift the Curve outwards. Structural relationships seem to be stable throughout the 2008-2012 period, suggesting that the Great Recession mainly implied moves along the Curve.

Keywords: Unemployment; vacancies; globalisation; creative destruction; labour-market policies (search for similar items in EconPapers)
JEL-codes: E24 F60 J20 O40 (search for similar items in EconPapers)
Pages: 26
Date: 2016-12
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.dt.mef.gov.it/modules/documenti_it/anal ... _-_Dicembre_2016.pdf (application/pdf)

Related works:
Journal Article: The Beveridge curve in the OECD before and after the great recession (2020)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:itt:wpaper:2016-5

Access Statistics for this paper

More papers in Working Papers from Department of the Treasury, Ministry of the Economy and of Finance Contact information at EDIRC.
Bibliographic data for series maintained by Michele Petrocelli ( this e-mail address is bad, please contact ).