Briefing

Structural unemployment

Abstract: Whenever unemployment stays high for an extended period, it is common to see analyses, statements, and rebuttals about the extent to which the high unemployment is structural, not cyclical. This brief views the Beveridge curve pattern of unemployment and vacancy rates and the related matching function as proxies for the functioning of the labor market, and explores issues in that proxy relationship that complicates such analyses.

JEL Classification: E32; E6; J23; E24;

Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: Public Policy Brief

Publication Date: 2013

Order Number: 6