High and persistent unemployment rates in Europe during the eighties gave rise to a lively discussion about the nature and causes of joblessness. Among other sources structural unemployment was blamed for the lack of response of unemployment to increasing aggregate demand. Renewed attention was thus devoted to an analysis of the magnitude and the development of structural unemployment as well to its possi ble determinants. In this literature, the Beveridge curve experienced a resurrection and, at first glance, it seemed to be an appropriate tool to analyse the aforementioned issues. However, it was soon recognized that the Beveridge curve, i. e. the relation between unemployment and vacancies, was anything but stable, thus requiring a care ful distinction between dynamic loops around a (stable?) long-run Beveridge curve and possible shifts due to, say, an increasing mismatch between labor supplied and demanded. The controversy is far from being settled at the time of this writing. This book contains a collection of hitherto unpublished papers which are devoted to a theoretical and econometric analysis of structural unemployment. The papers put considerable emphasis on the question to what extent the Beveridge curve can serve as an adequate tool for such studies. The countries under consideration are Germany and Austria. In what follows a very brief summary of each paper will be outlined. Franz and Siebeck present, at some length, a theoretical and econometric analysis of the Beveridge curve in Germany.
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analysis Austrian Beveridge Curve autocorrelation Borsch-Supan business cycle calculated changes Christl classical unemployment coefficient column cyclical variables decreases denoted Dependent Variable dummy variables duration of unemployment duration of vacancies econometric economic empirical employers equation estimations explanatory variables F-tests Figure firm Franz frictional unemployment Germany higher hysteresis impact increase Jackman job offer jobless Keynesian labor market labor office Labour Economics lagged lndustry Long-term Unemployed Persons long-term unemployment macroeconomic matching function matching process ment minimum hiring standard mismatch indicator mismatch unemployment MMp2 NAIRU natural rate Northrhine-Westphalia number of vacancies outward shift parameters period Phillips curve Pissarides placement rate ployment qualifications mismatch rate of unemployment rate of unskilled regional dispersion regional mismatch regression regression analysis reservation wage significant slope statistics structural unemployment theoretical U/V curve unem unemployment and vacancies unemployment rate unskilled long-term unemployed unskilled unemployed vacancy rate wage offer wage rate