OECD ülkelerinde Beveridge eğrisi ve emek piyasası dinamikleri

This thesis examines Beveridge curve and its increasing importance in labour market dynamics. This curve studies mismatch ratio of the employee skills to skills that jobs needed and it is often used to identify the state of the labour market. In essence, in this study is concentrated on the graphical negative relationship between unemployment and the job vacancy rate with an application to 12 OECD countries between years 2000 and 2012. Movements in Beveridge Curve is defined and explained by statistical analysis as well as illustrations. The analysis aims to explain unemployment rate of selected countries by the real minimum wage and the labour productivity based on the previous literature. The real minimum wage is included based on it will extend the search duration of candidates if it rises. Real labour productivity is added to the equation based on the idea that an increase in labour productivity can cause a decrease in unemployment rate by accelerating the overall economic growth of a country. The common correlated errors (CCE) and augmented mean group (AMG) estimators are calculated to show both panel data results and country-specific results. On the other hand, fixed effect model is estimated by feasible generalized least squares, fully modified ordinary least squares and Prais- Winsten regression methods. As a result, negatively sloped Beveridge Curve is verified.The estimated values of job vacancy coefficient express an inelastic behaviour of the Beveridge curve in selected OECD countries. The labour costs, in terms of real minimum wages, have worsened the matching rate of unemployed workers and job vacancies; it is leading to an outward shift of the Beveridge Curve. An increase in wages has decreased the labour market efficiency. Labour productivity has a negative impact on the unemployment and this indicates that the labour productivity have improved the matching rate of unemployed workers and job vacancies. In other words, rises in labour productivity have positive impact on increasing the labour market efficiency. Even though the panel data analysis of unemployment and vacancies as well as real minimum wages and real labour productivity shows inefficiency in the labour markets of the selected countries, some of the country specific results of real minimum wages and real labour productivity support the alternative hypothesis of the higher real minimum wages result in an increase in economic activity and growth might cause a decrease in unemployment and the higher real labour productivity result in less demand for labour and thus, increases the unemployment rate.