Job matching, wage dispersion, and unemployment

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Title:

Author:

Mortensen, Dale.

ISBN:

9780199233786

Personal Author:

Mortensen, Dale.

Publication Information:

Oxford : Oxford University Press, 2011.

Physical Description:

xii, 205 p. : ill. ; 22 cm.

Series:

IZA Prize in Labor Economics series

Contents:

Machine generated contents note: 1.The Matching Process as a Noncooperative Bargaining Game -- 1.1.Matching Technologies -- 1.2.Matching Equilibria -- 1.3.Matching Efficiency -- 1.4.A Summary and a Reinterpretation -- 2.Short-Run Equilibrium Dynamics of Unemployment, Vacancies, and Real Wages -- 2.1.Unemployment -- 2.2.Vacancies -- 2.3.Wages -- 2.4.Job Rejection -- 2.5.Equilibrium and Short-Run Dynamics -- 2.6.Response to Output Shocks -- 2.7.Conclusions -- 3.Unemployment and Vacancies in Britain -- 3.1.Some Statistical Facts -- 3.1.1.Unemployment: Stocks and Flows -- 3.1.2.Flows Into Unemployment: Quits and Redundancies -- 3.1.3.Flows Out of Unemployment: Vacancies and Job Search -- 3.2.Theory -- 3.2.1.Flows Into Unemployment -- 3.2.2.Flows Out of Unemployment -- 3.2.3.Vacancies and the Demand for Labor -- 3.3.Properties of Equilibrium Unemployment and the Role of Policy -- 3.3.1.Uniqueness of Equilibrium -- 3.3.2.Efficiency of Equilibrium Unemployment --

Contents note continued: 3.3.3.Accounting for the Rise in Unemployment -- 3.4.Conclusions -- Appendix A A Formal Model -- Appendix B Definition of Variables Used in the Regressions -- 4.Job Creation and Job Destruction in the Theory of Unemployment -- 4.1.Concepts and Notation -- 4.2.Steady States -- 4.3.Cyclical Shocks -- 4.4.An Illustrative Simulation -- 4.5.Conclusions -- Appendix -- 5.Equilibrium Wage Distributions: A Synthesis -- 5.1.The General Model -- 5.2.Properties of an Equilibrium Wage Offer Distribution -- 5.3.The Case of Homogeneous Agents -- 5.4.The General Case -- 5.5.Structural Parameter Estimation.

Subject Term:

Labor economics.

Labor market.

Added Author:

Pissarides, Christopher A.

Tatsiramos, Konstantinos.

Zimmerman, Klaus F.

Copies:

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Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168025561776	331 M887J 2011	1	Searching... Unknown

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Summary

Dale T. Mortensen and Christopher A. Pissarides are the recipients (with Peter Diamond) of the Nobel memorial Prize in Economics 2010. They have made path-breaking contributions to the analysis of markets with search and matching frictions, which account for much of the success of job search theory and the flows approach in becoming a leading tool for microeconomic and macroeconomic analysis of labor markets. Both scientists have gained groundbreaking insights through individual as well as joint research. Consequently, this volume not only features several papers which helped shape the equilibrium search model, including some early contributions which have initiated the research on what is known today as the search and matching model of the labor market, but it also presents a joint paper by the IZA Prize Laureates, which is a complete statement of the equilibrium search and matching model with endogenous job creation and job destruction. As part of the IZA Prize Series, the book presents a selection of their most important work which has highly enriched research on unemployment as an equilibrium phenomenon, on labor market dynamics, and on cyclical adjustment.