Random or Non-Random Matching? Implications for the Use of the UV Curve as a Measure of Matching Performance.
The instability of the Beveridge curve in Britain since the mid-50s has been interpreted as revealing a deterioration of labour market effectiveness in matching vacancies to unemployed job-seekers. This paper attemps to repeat the stability analysis of the matching technology, having relaxed some of the restrictions generally imposed in deriving a Beveridge curve.