Specification and estimation of the unemployment-vacancy curve in the period 1956–1979
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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
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