TY - UNPB
T1 - The Beveridge Curve in the OECD Before and After the Great Recession
AU - Mastromatteo, Giuseppe
AU - Destefanis, Sergio Pietro
PY - 2016
Y1 - 2016
N2 - This paper analyses the Beveridge Curve across nine OECD countries from 1985 to 2012.
Besides allowing for some customary labour-market institutions, we assess the role of various
kinds of structural factors (technological progress, globalisation, oil prices) and of the current
recession on the Curve. Significant institutional variables include unemployment benefits, the
tax wedge, active labour-market policies and employment protection legislation (the latter
improving the unemployment-vacancies trade-off). Technological progress (R&D intensity) shifts
the Curve outwards, producing evidence in support of a creative destruction effect. Globalisation and unfavourable oil price shocks also shift the Curve outwards. Structural relationships seem to be stable throughout the 2008-2012 period, suggesting that the Great Recession mainly implied moves along the Curve.
AB - This paper analyses the Beveridge Curve across nine OECD countries from 1985 to 2012.
Besides allowing for some customary labour-market institutions, we assess the role of various
kinds of structural factors (technological progress, globalisation, oil prices) and of the current
recession on the Curve. Significant institutional variables include unemployment benefits, the
tax wedge, active labour-market policies and employment protection legislation (the latter
improving the unemployment-vacancies trade-off). Technological progress (R&D intensity) shifts
the Curve outwards, producing evidence in support of a creative destruction effect. Globalisation and unfavourable oil price shocks also shift the Curve outwards. Structural relationships seem to be stable throughout the 2008-2012 period, suggesting that the Great Recession mainly implied moves along the Curve.
KW - creative destruction
KW - globalisation
KW - labour-market
KW - unemployment
KW - vacancies
KW - creative destruction
KW - globalisation
KW - labour-market
KW - unemployment
KW - vacancies
UR - http://hdl.handle.net/10807/96040
UR - http://www.dt.tesoro.it/export/sites/sitodt/modules/documenti_it/analisi_progammazione/working_papers/wp_nx_5_-_dicembre_2016.pdf
M3 - Working paper
BT - The Beveridge Curve in the OECD Before and After the Great Recession
PB - Ministery of Economy and Finance, Department of the Treasury
ER -