Specification and estimation of the unemployment-vacancy curve in the period 1956–1979
The aim of this article is to improve the specification of theUV curve to get satisfactory statistical results for the whole post war period up to 1979. This is done by including a dummy structure and the utilisation rate of production capacity. Results are presented for macro-data, data for men and women separately also at a regional level. Moreover, indicators were developed to represent some causes of the increase in unemployment due to market imperfections for the 1970–1979 period. These indicators were used as explanatory variables in a regression to explain the increase of unemployment due to market imperfections in the 1970–1979 period.
KeywordsExplanatory Variable Statistical Result International Economic Public Finance Regional Level
Unable to display preview. Download preview PDF.
- Driehuis, W., ‘Labour Market Unbalances and Structural Unemployment,’Kyklos (1978), pp. 638–661.Google Scholar
- Hansen, B., ‘Excess Demand, Unemployment, Vacancies and Wages,’Quarterly Journal of Economics (1970), pp. 1–23.Google Scholar
- Jaarverslag arbeidsmarkt 1978, Ministry of Socal Affairs and Employment, The Hague, 1979, pp. 23–24.Google Scholar
- Kuiper, S.K., and F.H. Buddenberg, ‘Unemployment on Account of Market Imperfections in the Netherlands since the Second World War,’De Economist, CXXVI (1978), pp. 380–412.Google Scholar
- Maddison, A., ‘The Implications of the Seminar for Dutch Policy and Analysis,’Lecture held at the Seminar on Unemployment, Gronigen, 1980.Google Scholar
- Muysken, J., and C. de Neubourg, ‘Qualitative Structural Unemployment in the Netherlands, 1955–1979,’Research Memorandum from the Faculty of Economics, University of Groningen, no. 75 (1981).Google Scholar
- Neubourg, C.H. de, ‘The Analytical Relevance of Regional Labour Markets,’ Groningen, 1982, forthcoming.Google Scholar
- Phelps, E.S., ‘Money Wage Dynamics and Labour Market Equilibrium,’ in: E.S. Phelpset al., Micro Foundation of Employment and Inflation Theory, London, 1970, pp. 124–166.Google Scholar