Equilibrium Unemployment Theory, 2e

by Pissarides

ISBN: 9780262332705 | Copyright 2000

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Contents (pg. vii)
Preface (pg. xi)
Preface to the First Edition (pg. xv)
I FOUNDATIONS (pg. 1)
1 The Labor Market (pg. 3)
1.1 Trade in the Labor Market (pg. 3)
1.2 Job Creation (pg. 10)
1.3 Workers (pg. 13)
1.4 Wage Determination (pg. 15)
1.5 Steady-State Equilibrium (pg. 18)
1.6 Capital (pg. 23)
1.7 Out-of-Steady-State Dynamics (pg. 26)
1.8 Notes on the Literature (pg. 33)
2 Endogenous Job Destruction (pg. 37)
2.1 Productivity Shocks and Reservation Rules (pg. 37)
2.2 Steady-State Equilibrium (pg. 40)
2.3 Unemployment, Job Creation, and Job Destruction (pg. 46)
2.4 Capital (pg. 57)
2.5 Out-of-Steady-State Dynamics (pg. 59)
2.6 Notes on the Literature (pg. 63)
3 Long-Run Equilibrium and Balanced Growth (pg. 67)
3.1 Large Firms (pg. 68)
3.2 Unemployment Income (pg. 70)
3.3 Technological Progress: The Capitalization Effect (pg. 75)
3.4 Endogenous Capital and Interest (pg. 77)
3.5 Creative Job Destruction (pg. 82)
3.6 Notes on the Literature (pg. 89)
II FURTHER ANALYSIS OF THE LABOR MARKET (pg. 93)
4 Labor Turnover and On-the-Job Search (pg. 95)
4.1 Exogenous Labor Turnover (pg. 95)
4.2 Search on the Job (pg. 103)
4.3 Equilibrium (pg. 109)
4.4 The Implications of On-the-Job Search for Equilibrium (pg. 114)
4.5 The Implications of Higher Labor Productivity (pg. 119)
4.6 Notes on the Literature (pg. 120)
5 Search Intensity and Job Advertising (pg. 123)
5.1 The Matching Technology with Variable Intensity (pg. 124)
5.2 The Choice of Search Intensity (pg. 126)
5.3 The Choice of Job Advertising (pg. 129)
5.4 Equilibrium (pg. 131)
5.5 Unemployment and Search Intensity (pg. 135)
5.6 Notes on the Literature (pg. 141)
6 Stochastic Job Matchings (pg. 145)
6.1 Job Matching (pg. 146)
6.2 The Choice of Reservation Wage (pg. 148)
6.3 The Choice of Hiring Standards (pg. 152)
6.4 Wage Determination (pg. 154)
6.5 Equilibrium (pg. 156)
6.6 Unemployment and Vacancies with Stochastic Job Matchings (pg. 160)
6.7 Notes on the Literature (pg. 164)
7 Labor Force Participation and Hours of Work (pg. 167)
7.1 Labor Force Participation (pg. 167)
7.2 The Discouraged- and Added-Worker Effects (pg. 170)
7.3 Hours of Work (pg. 175)
7.4 Notes on the Literature (pg. 179)
III CONSTRAINED EFFICIENCY AND THE ROLE OF POLICY (pg. 181)
8 Efficiency (pg. 183)
8.1 Job Creation (pg. 183)
8.2 Job Destruction (pg. 188)
8.3 Search Intensity and Job Advertising (pg. 190)
8.4 Stochastic Job Matchings (pg. 195)
8.5 Labor-Force Participation (pg. 196)
8.6 Three Questions about Efficiency (pg. 197)
8.7 Notes on the Literature (pg. 201)
9 The Role of Policy (pg. 205)
9.1 Policy Instruments (pg. 205)
9.2 Wage Determination (pg. 207)
9.3 Equilibrium with Policy (pg. 212)
9.4 Job Destruction (pg. 213)
9.5 Search Intensity (pg. 219)
9.6 Stochastic Job Matchings (pg. 222)
9.7 Compensating Policy Changes (pg. 225)
9.8 Search Externalities and Policy (pg. 229)
9.9 An Alternative Approach to the Design of Policy (pg. 230)
9.10 Notes on the Literature (pg. 233)
Bibliography (pg. 235)
Index (pg. 247)

Christopher A. Pissarides

Christopher A. Pissarides, 2010 Nobel Laureate in Economics, is School Professor of Economics and Political Science and Regius Professor of Economics at the London School of Economics.


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