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The Persistence and Indeterminancy of Unemployment in Search Equilibrium Author info | Abstract | Publisher info | Download info | Related research | Statistics Mortensen, Dale T
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Existing theories that explain persistent and indeterminant unemployment are brought together within the unifying framework of search equilibrium. External economies that exhibit increasing return to production and exchange are identified as potential causes for both the indeterminacy and the persistence of unemployment for a wide range of assumptions about wage determination. Those considered include a "market-clearing" wage, an "efficiency" wage, and an "insider-outsider" wage model. Although either of the non-market-clearing specifications can induce greater persistence, multiple equilibria require increasing returns in the technologies of either production or exchange. Copyright 1989 by The editors of the Scandinavian Journal of Economics.
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Article provided by Blackwell Publishing in its journal Scandinavian Journal of Economics .
Volume (Year): 91 (1989)
Issue (Month): 2 ()
Pages: 347-70
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Handle: RePEc:bla:scandj:v:91:y:1989:i:2:p:347-70Contact details of provider: Web page: http://www.blackwellpublishing.com/journal.asp?ref=0347-0520
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Shapiro, Carl & Stiglitz, Joseph E, 1984.
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Howitt, Peter & McAfee, R Preston, 1987.
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Pissarides, Christopher A, 1987.
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Lindbeck, Assar & Snower, Dennis J, 1986.
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Other versions: Diamond, Peter A, 1981.
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Nobuhiro Kiyotaki & Ricardo Lagos, 2006.
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Ricardo Lagos & Nobuhiro Kiyotaki, 2004.
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2004 Meeting Papers
36, Society for Economic Dynamics.
Nobuhiro Kiyotaki & Ricardo Lagos, 2004.
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Journal of Political Economy ,
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[Downloadable!] (restricted) Nicola Giammarioli, 2003.
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Xavier Raurich & Hector Sala Lorda & Valeri Sorolla, 2004.
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Raurich, Xavier & Sala, Hector & Sorolla, Valeri, 2004.
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IZA Discussion Papers
1127, Institute for the Study of Labor (IZA).
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[Downloadable!] Raurich, Xavier & Sala, Hector & Sorolla, Valeri, 2006.
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Macroeconomic Dynamics ,
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François Langot, 1996.
"A-t-on besoin d'un modèle d'hystérèse pour rendre compte de la persistance du chômage ? ,"
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Smith, Tony E & Zenou, Yves, 2001.
"A Discrete-Time Stochastic Model of Job Matching ,"
CEPR Discussion Papers
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Other versions: Masanao Aoki, 2004.
"A New Model of Labor Dynamics: Ultrametrics, Okun's Law, and Transient Dynamics ,"
UCLA Economics Online Papers
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Lawrence J. Christiano & Sharon G. Harrison, 1996.
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Working Paper Series, Macroeconomic Issues
WP-96-16, Federal Reserve Bank of Chicago.
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[Downloadable!] Christiano, Lawrence J. & G. Harrison, Sharon, 1999.
"Chaos, sunspots and automatic stabilizers ,"
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[Downloadable!] (restricted) Gries, Thomas & Naude, Wim, 2008.
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RP2008/62, World Institute for Development Economic Research (UNU-WIDER).
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Roger Bjørnstad, 2001.
"Learned Helplessness, Discouraged Workers, and Multiple Unemployment Equilibria in a Search Model ,"
Discussion Papers
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Juan José Dolado & Ramón Gómez, 1997.
"La relación entre desempleo y vacantes en España: perturbaciones agregadas y de reasignación ,"
Investigaciones Economicas ,
Fundación SEPI, vol. 21(3), pages 441-472, September.
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Masanao Aoki, 2004.
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Alicia Pérez Alon & Silvestro Di Sanzo, 2005.
"Unemployment And Hysteresis: A Nonlinear Unobserved Components Approach ,"
Working Papers. Serie AD
2005-34, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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