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Estimating the Beveridge Curve of Romania between 2004 and 2010

Author

Listed:
  • Marinaº Marius-Corneliu

    (Academy of Economic Studies, Bucharest, Romania)

  • Socol Cristian

    (Academy of Economic Studies, Bucharest, Romania)

  • Socol Aura-Gabriela

    (Academy of Economic Studies, Bucharest, Romania)

Abstract

The objective of this study is to prove the existence of an inverse relationship between the unemployment rate and the vacancy rate, i.e. the Beveridge curve, in the case of Romania. Estimation of this curve allows the identification of friction and matching process between demand and supply in the labor market. This study is structured in three parts. The first concerns the analysis of theoretical background of the Beveridge curve. In the second part we made the graphic representation of this curve between 2004 and 2010 years. On this basis, we explained why Beveridge curve shifted to inward until 2008 year and to outward when Romanian economy entered into recession. In the third part of paper, we validated the existence of the Beveridge curve in Romania, using a VAR model with two lags.

Suggested Citation

  • Marinaº Marius-Corneliu & Socol Cristian & Socol Aura-Gabriela, 2011. "Estimating the Beveridge Curve of Romania between 2004 and 2010," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1222-1227, May.
    • Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:1222-1227
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    More about this item

    Keywords

    Beveridge curve; VAR model; vacancy rate; labour market; hysteresis.;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies

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