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The Remarkable Place of the UV Curve in Economic Theory

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Figure

Figure 1: Unemployment and vacancy rates, 1946 –1956 (in percentages, Great Britain)  Source: Dow and Dicks-Mireaux, 1958: 3
Figure 2). DDM therefore conclude that the observations from 1946 to 1950 do not lie on the UV-
Figure 4: NIESR’s measurement of frictional and structural unemployment per sector Based on: Cheshire, 1973: 13
Figure 5:  Employment function in an S-D diagram  Source: Based on Hansen, 1970: 7.
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