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A note on the competitive search model of Azariadis and Pissarides

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  • Hiraguchi, Ryoji

Abstract

In this short note, I reinvestigate a recent paper of Azariadis and Pissarides (Unemployment dynamics with international capital mobility, European Economic Review, 2007(51), 27-48) where wages are determined in a competitive search setting. I show that their equation on the equilibrium wage rate is incorrect. I derive a correct wage equation and perform the numerical analysis. The correction does not change their result and high capital mobility still raises the variability of the unemployment rate.

Suggested Citation

  • Hiraguchi, Ryoji, 2011. "A note on the competitive search model of Azariadis and Pissarides," European Economic Review, Elsevier, vol. 55(2), pages 304-306, February.
    • Handle: RePEc:eee:eecrev:v:55:y:2011:i:2:p:304-306
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    References listed on IDEAS

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    1. Azariadis, Costas & Pissarides, Christopher A., 2007. "Unemployment dynamics with international capital mobility," European Economic Review, Elsevier, vol. 51(1), pages 27-48, January.
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    Keywords

    Competitive search Unemployment;

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