About this product

Product Identifiers

PublisherMIT Press

ISBN-100262161877

ISBN-139780262161879

eBay Product ID (ePID)1582491

Product Key Features

Number of Pages274 Pages

LanguageEnglish

Publication NameEquilibrium Unemployment Theory

SubjectEconomics / General, Labor

Publication Year2000

TypeTextbook

Subject AreaBusiness & Economics

AuthorChristopher A. Pissarides

FormatHardcover

Dimensions

Item Height0.7 in

Item Weight17.4 Oz

Item Length9.3 in

Item Width6.1 in

Additional Product Features

Edition Number2

Intended AudienceCollege Audience

LCCN99-041746

Dewey Edition20

IllustratedYes

Dewey Decimal365.973

SynopsisThis 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., 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.

LC Classification NumberHD5707.5.P55 2000