This paper examines labour market matching in Austria from 2008 to 2024, focusing on the regional impact of the COVID-19 pandemic. Using monthly administrative data, we estimate Beveridge curves and matching efficiency across federal states. Our results show that while COVID-19 temporarily...

This paper explores the role of employment pool composition on labor matching effectiveness in ten Central and Eastern European countries from 2005 to 2023. We control for the structure of the labor force in terms of education, age, and gender. The results point towards a significant impact of...

Das Konzept der Vollbeschäftigung ist mit verschiedenen wirtschaftlichen, politischen und sozialen Aspekten verknüpft. Wir geben einen Überblick über Theorie, Empirie und Policy-Fragen im Zusammenhang mit Vollbeschäftigung. Wir leisten einen neuen Beitrag, indem wir mehrdimensionale Aspekte...

This paper examines labour market matching in Austria since 2008, with a particular focus on the effects of the COVID-19 pandemic at the regional and sectoral level. We use comprehensive monthly administrative data and apply a standard matching model to estimate Beveridge curves for different...

Das Konzept der Vollbeschäftigung ist mit verschiedenen wirtschaftlichen, politischen und sozialen Aspekten verknüpft. Wir geben einen Überblick über Theorie, Empirie und Policy-Fragen im Zusammenhang mit Vollbeschäftigung. Wir leisten einen neuen Beitrag, indem wir mehrdimensionale Aspekte...

The Beveridge curve shifted substantially higher in the United States following the start of the COVID pandemic. In 2022, vacancies reached record highs across all sectors while unemployment fell to pre-pandemic lows. At the same time, the pandemic has resulted in severe labor shortages, and we...

I study the impact of Canada's expansive immigration policy launched in 2016 on labour shortages in six regions of the country, particularly in Quebec, which enjoys some autonomy of management in this area. I look at movements of the Beveridge curve, which draws the classical inverse relation...

The concept of full employment is associated with diverse economic, political and social aspects. We provide a survey of theory, empirics and policy issues related to full employment. We make a novel contribution by tying together multi-dimensional aspects of full employment regarding...

Following the global financial crisis, an increasing amount of attention has been directed towards examining the Beveridge curve (BC), which indicates the relationship between unemployment and vacancy rates. This research analyzes the unemployment-vacancy rate dynamics in the Turkiye labor...

This paper provides a statistical portrait of the Russian labor market during the latest period of 2010–2022. The analysis delves into both the long-term trends in its evolution and short-term fluctuations associated with its adjustment to economic downturns. The most noteworthy among the...

A standard endogenous separation model developed by Mortensen and Pissarides [1994] has a drawback in replicating the negative correlation between unemployment and vacancies. To address this, I extend the model by incorporating wage rigidity and modifying the assumption about idiosyncratic...

We report on a laboratory experiment testing the predictions of the Diamond-Mortensen-Pissarides (DMP) search-and-matching model, which is a workhorse, decentralized model of unemployment and the labor market. We focus on the job vacancy posting problem that firms face in the DMP model. We...

The Beveridge Curve has been dissected in many ways over the years - by industry, by region, and by state. However, despite the availability of a proxy for a curve for each sex, there have been no estimates of the Beveridge Curve for males and females separately. This paper explains how the...

We discuss how the relative importance of factors that contribute to movements of the U.S. Beveridge curve has changed from 1960 to 2023. We review these factors in the context of a simple flow analogy used to capture the main insights of search and matching theories of the labor market. Changes...

We discuss how the relative importance of factors that contribute to movements of the U.S. Beveridge curve has changed from 1960 to 2023. We review these factors in the context of a simple flow analogy used to capture the main insights of search and matching theories of the labor market. Changes...

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that are relevant for monetary policy. The model matches remarkably well the short and long run dynamics of skilled and unskilled workers. Skill mismatch and skill-specific labour...

There has been a substantial body of work modeling the co-movement of employment, vacancies, and output over the business cycle. This paper builds on this literature, and informed by empirical investigation, models worker and firm search and hiring behavior in a manner consistent with recent...

When firms decide to post a vacancy they can hire from the pool of unemployed workers or they can poach a worker from another firm. In this paper we show that if there are two different matching processes, one for unemployed workers and another one for job-to-job transitions, then implications...

In this study, we apply the Kalman filter to estimate the set of reduced-form Phillips curves for different types of inflation in Ukraine. Based on the estimated models, we derive a number of series of non-accelerating inflation rate of unemployment (NAIRU) that provide information about the...

The nature of unemployment has been long disputed among economists. Is it a matching problem between job–seekers and the profiles sought by employers (structural unemployment) or rather a macroeconomic shortage of labour demand compared with aggregate supply (cyclical unemployment)? Different...

The US economy has endured an exceptionally severe recession caused by the measures put in place to contain the spread of COVID-19. This occasional paper assesses the impact of this crisis on key labour market variables, such as (un-) employment, wages and productivity, and highlights the...

This paper shows that a search and matching model with idiosyncratic training cost shocks can explain the asymmetric movement of the job-finding rate over the business cycle and the decline of matching efficiency in recessions. Large negative aggregate shocks move the hiring cutoff into a part...

When firms decide to post a vacancy they can hire from the pool of unemployed workers or they can poach a worker from another firm. In this paper we show that if there are two different matching processes, one for unemployed workers and another one for job-to-job transitions, then implications...

The slow recovery of the labor market in the aftermath of the Great Recession highlighted mismatch, the misallocation of workers across space or across industries. We consider the historical evolution of regional mismatch. We construct MSA-level unemployment rates and vacancy data using...