Regional Beveridge Curves: A Latent Variable Approach

Dixon R., Lim G. C. and Freebairn J. Regional Beveridge curves: a latent variable approach, Regional Studies. This paper applies an unobserved components model to a panel of Australian data to identify the direction and timing of the shifts in regional Beveridge curves. The approach identifies a com...

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Bibliographic Details
Published in:Regional studies 2014-02, Vol.48 (2), p.254-269
Main Authors: Dixon, Robert, Lim, G. C., Freebairn, John
Format: Article
Language:English
Subjects:
Australia
Beveridge curve
Beveridge-Kurve
Bgi / Prodig
Chômage régional
Courbe de Beveridge
Curva de Beveridge
Desempleo regional
Economic fluctuations
Economic models
Human geography
Impact analysis
Job openings
Modelo de componentes no observados
Modèle à composantes non observées
Oceania
Regional economics
Regional policy
Regional studies
Regional unemployment
Regionale Arbeitslosigkeit
Studies
Unbeobachtete-Komponenten-Modell
Unemployment
Unobserved components model
不可观测成分模型
区域失业
贝弗里奇曲线
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Summary:Dixon R., Lim G. C. and Freebairn J. Regional Beveridge curves: a latent variable approach, Regional Studies. This paper applies an unobserved components model to a panel of Australian data to identify the direction and timing of the shifts in regional Beveridge curves. The approach identifies a common factor while allowing for region-specific effects. The common factor that drives the relationship between regional unemployment and vacancy rates is extracted and it is then related to various explanatory variables. The contribution of common shocks to fluctuations in regional unemployment ranges from 18% to 68%. The paper demonstrates the usefulness of a latent variable approach and, in relation to policy, the findings suggest the need for an explicit regional policy to tackle unemployment in Australia.
ISSN:0034-3404
1360-0591
DOI:10.1080/00343404.2011.644238