Yet Another DeLong Smackdown Watch: Beveridge Curve Vs Matching Function II

Robert Waldmann:

Beveridge Curve Vs Matching Function II: I am certainly not convinced that there is anything unusual going on.... [T:]here is always alarm about a shift in the Beveridge curve, and many rude things are said about the unemployed.... I assert that there is no evidence there. The argument is based on the accidental theory that hiring is proportional to vacancies. It absolutely isn't. Decades of data prove that it isn't. There is nothing odd about the latest data which...