Equilibrium Unemployment
Joao Gomes, Jeremy Greenwood, Sergio Rebelo
A search-theoretic general equilibrium model of frictional unemployment is shown to be consistent with some of the key regularities of unemployment over the business cycle. In the model the return to a job moves stochastically. Agents can choose either to quit and search for a better job, or continue working. Search generates job offers that agents can accept or reject. Two distinguishing features of current work relative to the existing business cycle literature on labor market fluctuations are: (i) the decision to accept or reject jobs is modeled explicitly, and (ii) there is imperfect insurance against unemployment
Year of publication: |
February 1997
|
---|---|
Authors: | Gomes, Joao |
Other Persons: | Greenwood, Jeremy (contributor) ; Rebelo, Sergio (contributor) |
Institutions: | National Bureau of Economic Research (contributor) |
Publisher: |
Cambridge, Mass : National Bureau of Economic Research |
Subject: | Theorie der Arbeitslosigkeit | Unemployment theory | Allgemeines Gleichgewicht | General equilibrium | Schätzung | Estimation | Arbeitslosigkeit | Unemployment | Friktionelle Arbeitslosigkeit | Frictional unemployment | Konjunkturelle Arbeitslosigkeit | Cyclical unemployment | Arbeitsuche | Job search |
Saved in:
freely available
Extent: | 1 Online-Ressource |
---|---|
Series: | NBER working paper series ; no. w5922 |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Mode of access: World Wide Web System requirements: Adobe [Acrobat] Reader required for PDF files Hardcopy version available to institutional subscribers. |
Other identifiers: | 10.3386/w5922 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012472902