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.
File format is application/pdf
Description: Full text
Provider: Federal Reserve Bank of Boston
Part of Series: Public Policy Brief
Order Number: 6