Working Paper Series
Nils Henrik Schager
The Replacement of the UV-Curve with a New Measure of Hiring Efficiency
Abstract: In this paper we show that changes in the position of the
UV-Curve do not unambiguously reflect changes in labour market adjustment
ability. In fact, the UV-Curve is displaced not only when hiring efficiency
changes but also when the volume of hiring changes. To identify changes in
hiring efficiency, we should use the relation between either the duration
of vacancies and the stock of unemployment or, alternatively, the duration
of unemployment and the stock of vacancies. These measures are applied to
Swedish data and produce interesting new evidence on the hiring efficiency
of the labour market in Sweden.
Keywords: UV curve; supply and demand of labour; hiring efficiency; (follow links to similar papers)
JEL-Codes: J63; J64; (follow links to similar papers)
57 pages, December 1985
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