Equilibrium unemployment theory / Christopher A. Pissarides.

By:

Pissarides, Christopher A

Material type: Text

TextLanguage: English Publication details: Cambridge, Mass. : MIT Press, c2000.Edition: 2nd edDescription: 1 online resource (xix, 252 p.)Content type:

text

Media type:

computer

ISBN:

0262161877 (alk. paper)

Subject(s):

Genre/Form:

Electronic books.

DDC classification:

331.133/7/01 21

LOC classification:

HD5707.5 .P57 2000

Online resources:

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Summary: An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market.This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.

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Holdings
Item type	Current library	Collection	Shelving location	Call number	Copy number	Status	Date due	Barcode
eBook (Electronic Book)	North South University Library	Non-fiction	Online	HD5707.5.P57 2000 (Browse shelf(Opens below))	1	1		500010060

Includes bibliographical references (p. [235]-245) and index.

An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market.This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.

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Equilibrium unemployment theory / Christopher A. Pissarides.