Author: Eran YashivPublisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 84
Book Description
The Determinants of Equilibrium Unemployment
Author: Eran YashivPublisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 84
Book Description
The Determinants of Equilibrium Unemployment
Author: Eran YashivPublisher:
ISBN: 9782854186000
Category :
Languages : en
Pages : 57
Book Description
The Determinants of Equilibrium Unemployment
Author: Eran YashivEquilibrium Unemployment Theory, second edition
Author: Christopher A. PissaridesPublisher: MIT Press
ISBN: 0262264064
Category : Business & Economics
Languages : en
Pages : 273
Book Description
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. 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.
The Determinants of Equilibrium Unemployment in Britain
Author: S. J. NickellPublisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 52
Book Description
Structural Slumps
Author: Edmund S. PhelpsPublisher: Harvard University Press
ISBN: 9780674843738
Category : Business & Economics
Languages : en
Pages : 444
Book Description
Dissatisfied with the explanations of the business cycle provided by the Keynesian, monetarist, New Keynesian, and real business cycle schools, Edmund Phelps has developed from various existing strands-some modern and some classical--a radically different theory to account for the long periods of unemployment that have dogged the economies of the United States and Western Europe since the early 1970s. Phelps sees secular shifts and long swings of the unemployment rate as structural in nature. That is, they are typically the result of movements in the natural rate of unemployment (to which the equilibrium path is always tending) rather than of long-persisting deviations around a natural rate itself impervious to changing structure. What has been lacking is a "structuralist" theory of how the natural rate is disturbed by real demand and supply shocks, foreign and domestic, and the adjustments they set in motion. To study the determination of the natural rate path, Phelps constructs three stylized general equilibrium models, each one built around a distinct kind of asset in which firms invest and which is important for the hiring decision. An element of these models is the modern economics of the labor market whereby firms, in seeking to dampen their employees' propensities to quit and shirk, drive wages above market-clearing levels-the phenomenon of the "incentive wage"--and so generate involuntary unemployment in labor-market equilibrium. Another element is the capital market, where interest rates are disturbed by demand and supply shocks such as shifts in profitability, thrift, productivity, and the rate of technical progress and population increase. A general-equilibrium analysis shows how various real shocks, operating through interest rates upon the demand for employees and through the propensity to quit and shirk upon the incentive wage, act upon the natural rate (and thus equilibrium path). In an econometric and historical section, the new theory of economic activity is submitted to certain empirical tests against global postwar data. In the final section the author draws from the theory some suggestions for government policy measures that would best serve to combat structural slumps.
The Determinants of Equilibrium Unemployment in Britain
Author: Simon PricePublisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 15
Book Description
Macroeconomic Determinants of Equilibrium Unemployment Insurance
Author: Francisco CarneiroPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
This paper proposes a new modeling strategy as regards the definition of an optimal level of unemployment benefits. While the traditional methodology privileges labor market equilibrium to derive optimal employment, wage and unemployment benefit levels, we present a model in which the optimal level of unemployment benefits is a function of the government's macroeconomic objectives in terms of inflation and output fluctuations. In a second stage, the model allows for the investigation of unemployment insurance effects on labor market equilibrium.
The Structural Determinants of Unemployment
Author: Paul G. SchervishPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 280
Book Description
The logic of analysis of segmentation research; Segmentation of market relations and segmentation of unemployment; Data, measurement of variables, and techniques of analysis; Class segments and the structure of unemployment; Economic sectors and the distribution of the unemployed; Business cycle, economic sector, and unemployment.
International Trade with Equilibrium Unemployment
Author: Carl DavidsonPublisher: Princeton University Press
ISBN: 0691125597
Category : Business & Economics
Languages : en
Pages : 433
Book Description
While most standard economic models of international trade assume full employment, Carl Davidson and Steven Matusz have argued over the past two decades that this reliance on full-employment modeling is misleading and ill-equipped to tackle many important trade-related questions. This book brings together the authors' pioneering work in creating models that more accurately reflect the real-world connections between international trade and labor markets. The material collected here presents the theoretical and empirical foundations of equilibrium unemployment modeling, which the authors and their collaborators developed to give researchers and policymakers a more realistic picture of how international trade affects labor markets, and of how transnational differences in labor markets affect international trade. They address the shortcomings of standard models, describe the empirics that underlie equilibrium unemployment models, and illustrate how these new models can yield vital insights into the relationship between international trade and employment. This volume also includes an indispensable general introduction as well as concise section introductions that put the authors' work in context and reveal the thinking behind their ideas. Economists are only now realizing just how important these ideas are, making this book essential reading for researchers and students.