Abstract
The purpose of this research is to analyze the labor market employing the Beveridge curve. The following tasks were set: 1) to describe conceptually the properties of the curve, 2) to build the curve using real data, 3) to apply the curve to the analysis of the labor market, 4) to decompose vacancy and unemployment levels into groups of changes driven by different factors, 5) to test econometrically the hypothesis that there is no long-term relation between the two levels. Certain methods of econometrics of time series were applied. The results are as follows: using data for 2000-2023 we 1) visualized the Beveridge curve, 2) applied it to the analysis of the labor market, 3) decomposed vacancy and unemployment levels into three groups of changes, 4) found empirical evidence of long-term relationship between these levels. To conclude, the Beveridge curve is a useful and reliable instrument of labor market diagnostics.
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