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Equilibrium unemployment theory

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Annotation 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  Read more...

Author(s): Pissarides, Christopher A.
Edition: 2nd ed.
Publisher: MIT Press
Year: 2000

Language: English
Pages: 252
City: Cambridge, Mass.
Tags: Unemployment -- Mathematical models;Equilibrium (Economics);Equilibrio (Economía política);Chômage -- Modèles mathématiques;Équilibre (Économie politique);BUSINESS & ECONOMICS -- Labor;Werkloosheid;Economisch evenwicht;Evenwichtsmodellen (Economie)