The Beveridge Curve Across US States: New Insights From a Pairwise Approach

Mark J. Holmes, Jesús Otero

Research output: Contribution to journalResearch Articlepeer-review

3 Scopus citations


This paper offers new insights into Beveridge curve analysis by modelling the unemployment–vacancy rate relationship at state-level within a pairwise environment in which the unemployment rate in one state is inversely related to the vacancy rate in another. We find that Beveridge curve shifting, or matching efficiency, is driven by factors that include distance between states, the labour force participation rate, homeownership and the relative affordability of housing between states. A pairwise recursive analysis points to a decrease in matching efficiency in the period that followed the Great Recession.

Original languageEnglish (US)
Pages (from-to)405-424
Number of pages20
JournalOxford Bulletin of Economics and Statistics
Issue number2
StatePublished - Apr 1 2020

All Science Journal Classification (ASJC) codes

  • Statistics and Probability
  • Social Sciences (miscellaneous)
  • Economics and Econometrics
  • Statistics, Probability and Uncertainty


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