Editing Beveridge curve (section)

==History==
The Beveridge curve, or UV curve, was developed in 1958 by [[Christopher Dow]] and Leslie Arthur Dicks-Mireaux.<ref name="Dow_1958">{{Cite journal| issn = 0030-7653| volume = 10| issue = 1| pages = 1–33| last1 = Dow| first1 = J. C. R.| last2 = Dicks-Mireaux| first2 = L. A.| title = The Excess Demand for Labour. A Study of Conditions in Great Britain, 1946-56| journal = Oxford Economic Papers | date = 1958| jstor = 2661871 |doi=10.1093/oxfordjournals.oep.a040791 }}</ref><ref>{{cite book |last=Rodenburg |first=P. |year=2010 |chapter=The UV-Curve or Beveridge Curve |editor1-last=Blaug |editor1-first=M. |editor2-last=Lloyd |editor2-first=P. |title=Famous Figures and Diagrams in Economics |publisher=Edward Elgar |location=Cheltenham, UK |chapter-url=https://books.google.com/books?id=YPNrACxcixMC&pg=PA393 |isbn=978-1-84844-160-6}}</ref> They were interested in measuring excess demand in the goods market for the guidance of Keynesian fiscal policies and took British data on vacancies and unemployment in the labour market as a proxy, since excess demand is unobservable. By 1958, they had 12 years of data available since the British government had started collecting data on unfilled vacancies from notification at labour exchanges in 1946. Dow and Dicks-Mireaux presented the unemployment and vacancy data in an unemployment-vacancy (UV) space and derived an idealised UV-curve as a rectangular hyperbola after they had connected successive observations. The UV curve, or Beveridge curve, enabled economists to use an analytical method, later known as UV-analysis, to decompose unemployment into different types of unemployment: deficient-demand (or cyclical) unemployment and [[structural unemployment]]. In the first half of the 1970s, that method was refined by economists of the National Institute of Economic and Social Research (NIESR), in [[London]], so that a classification arose that corresponded to the 'traditional' classification: a division of unemployment into frictional, structural and deficient demand unemployment, according to a 1976 analysis.<ref name="Brown_1976">{{cite book |last=Brown |first=A. J. |year=1976 |chapter=UV-analysis |editor-last=Worswick |editor-first=G. D. N. |title=The Concept and Measurement of Involuntary Unemployment |publisher=George Allen & Unwin |location=London |isbn=978-0-04-331065-6}}</ref> Both the Beveridge curve and the Phillips curve bear implicit macroeconomic notions of equilibrium in markets, but the notions are inconsistent and conflicting.<ref>{{cite journal |last=Rodenburg |first=P. |title=The Remarkable Transformation of the UV curve |journal=European Journal of the History of Economic Thought |volume=18 |issue=1 |pages=125–153 |year=2011 |doi=10.1080/09672567.2011.546080 |s2cid=53420464 |url=http://dare.uva.nl/personal/pure/en/publications/the-remarkable-transformation-of-the-uv-curve-in-economic-theory(2e162c36-ce0a-4d0f-a17c-f2064cefc8a0).html }}</ref> Most likely, because the curve enabled economists to analyze many of the problems that Beveridge had addressed, like mismatch between unemployment and vacancies, at aggregate level and industry levels and trend v. cyclical changes and measurement problems of vacancies, the curve was named in the 1980s after [[William Beveridge]], who never drew the curve, and the exact origin of the name remains obscure.<ref name="Palgrave_Yashiv_2008">{{cite book|author-link1=Eran Yashiv |last=Yashiv |first=E. |year=2008 |chapter=Beveridge Curve |editor1-last=Durlauf |editor1-first=S. N. |editor2-last=Blume |editor2-first=L. E. |title=The New Palgrave Dictionary of Economics |url=https://archive.org/details/newpalgravedicti07blum |url-access=limited |pages=[https://archive.org/details/newpalgravedicti07blum/page/n495 481]–482 |edition=Second |publisher=Palgrave Macmillan |doi=10.1057/9780230226203.0131 |isbn=978-0-333-78676-5 |s2cid=15027376 }}</ref>