New developments in models of search in the labor market
In: Handbook of Labor Economics
AbstractEquilibrium models of labor markets characterized by search and recruiting friction and by the need to reallocate workers from time to time across alternative productive activities represent the segment of the research frontier explored in this chapter. In this literature, unemployment spell and job spell durations as well as wage offers are treated as endogenous outcomes of forward looking job creation and job destruction decisions made by the workers and employers who populate the models. The solutions studied are dynamic stochastic equilibria in the sense that time and uncertainty are explicitly modeled, expectations are rational, private gains from trade are exploited, and the actions taken by all agents are mutually consistent. We argue that the framework provides a useful setting in which to study the effects of alternative wage setting institutions and different labor market policy regimes.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
This chapter was published in:
This item is provided by Elsevier in its series Handbook of Labor Economics with number 3-39.
Contact details of provider:
Web page: http://www.elsevier.com/wps/find/bookseriesdescription.cws_home/BS_HE/description
Other versions of this item:
- Mortensen, Dale T & Pissarides, Christopher, 1999. "New Developments in Models of Search in the Labour Market," CEPR Discussion Papers 2053, C.E.P.R. Discussion Papers.
- J0 - Labor and Demographic Economics - - General
You can help add them by filling out this form.
RePEc Biblio mentionsAs found on the RePEc Biblio, the curated bibliography for Economics:CitEc Project, subscribe to its RSS feed for this item.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading lists or Wikipedia pages:Access and download statisticsgeneral information about how to correct material in RePEc.
If references are entirely missing, you can add them using this form.