According to search-matching theory, the Beveridge curve slopes downward because vacancies are filled more quickly when … unemployment is high. Using monthly panel data for local labour markets in Sweden we find no (or only weak) evidence that high … unemployment makes it easier to fill vacancies. Instead, there are few vacancies when unemployment is high because there is a low …

of theory, empirics and policy issues related to full employment. We make a novel contribution by tying together multi … unemployment and maximum employment approaches; and the unfilled vacancies perspective. Furthermore, we provide and discuss …