The measurement and interpretation of vacancy data and the dynamics of the Beveridge-curve: The German case

This paper is devoted t.o an interpretation of both vacancy data and the Beveridgecurve. Officially reported vacancy data are critically reviewed. The theoretical foundation and empirical application of the Beveridge-curve is examined. We find that the Beveridge-curve is everything but a straightforward tool to analyze structural unemployment. More insights especially in the dynamics of the Beveridge-curve are obtained by integrating this relationship into a macroeconomic disequilibrium framework.