Scandinavian Working Papers in Economics
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Swedish Institute for Social Research, Stockholm University Working Paper Series, Swedish Institute for Social Research, Stockholm University

No 8/2009:
Unemployment and Vacancies

Ante Farm ()

Abstract: How can vacancy statistics be used to measure friction in job matching and the effects of friction on unemployment? First, measure deviations from instantaneous hirings by the average duration of recruitment as measured by the number of job vacancies divided by the number of hirings per month. Second, measure direct effects of recruitment times on employment by measuring unfilled jobs, defined as unoccupied job vacancies which are available immediately. Third, measure indirect effects of recruitment times on employment by estimating first the effect of recruitment times on product prices and then the effect of a price change on sales, production and employment. Fourth, measure ‘search ineffectiveness’ with potential effects on the NAIRU by the rate of unfilled jobs.

Keywords: Unemployment; vacancies; matching function; labour demand; friction; (follow links to similar papers)

JEL-Codes: J63; J64; (follow links to similar papers)

37 pages, November 20, 2009

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