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Markets with Search Friction and the DMP Model

Author

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  • Dale T. Mortensen

Abstract

Dale T. Mortensen delivered his Prize Lecture on 8 December 2010 at Aula Magna, Stockholm University.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Dale T. Mortensen, 2011. "Markets with Search Friction and the DMP Model," American Economic Review, American Economic Association, vol. 101(4), pages 1073-1091, June.
  • Handle: RePEc:aea:aecrev:v:101:y:2011:i:4:p:1073-91
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    References listed on IDEAS

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    1. Nber, 1966. "The Measurement and Interpretation of Job Vacancies," NBER Books, National Bureau of Economic Research, Inc, number unkn66-2, June.
    2. Diamond, Peter & Fudenberg, Drew, 1989. "Rational Expectations Business Cycles in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 606-619, June.
    3. Steven J. Davis & R. Jason Faberman & John Haltiwanger, 2006. "The Flow Approach to Labor Markets: New Data Sources and Micro-Macro Links," Journal of Economic Perspectives, American Economic Association, vol. 20(3), pages 3-26, Summer.
    4. Mortensen, Dale & Pissarides, Christopher, 2011. "Job Creation and Job Destruction in the Theory of Unemployment," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 1-19.
    5. Diamond, Peter A, 1982. "Aggregate Demand Management in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 881-894, October.
    6. Bontemps, Christian & Robin, Jean-Marc & Van den Berg, Gerard J, 1999. "An Empirical Equilibrium Job Search Model with Search on the Job and Heterogeneous Workers and Firms," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(4), pages 1039-1074, November.
    7. Edmund S. Phelps, 1968. "Money-Wage Dynamics and Labor-Market Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 76, pages 678-678.
    8. Mortensen, Dale T, 1970. "Job Search, the Duration of Unemployment, and the Phillips Curve," American Economic Review, American Economic Association, vol. 60(5), pages 847-862, December.
    9. John Baldwin & Timothy Dunne & John Haltiwanger, 1998. "A Comparison Of Job Creation And Job Destruction In Canada And The United States," The Review of Economics and Statistics, MIT Press, vol. 80(3), pages 347-356, August.
    10. Arthur J. Hosios, 1990. "On The Efficiency of Matching and Related Models of Search and Unemployment," Review of Economic Studies, Oxford University Press, vol. 57(2), pages 279-298.
    11. Peter A. Diamond, 1982. "Wage Determination and Efficiency in Search Equilibrium," Review of Economic Studies, Oxford University Press, vol. 49(2), pages 217-227.
    12. Robert E. Hall, 2011. "The Long Slump," American Economic Review, American Economic Association, vol. 101(2), pages 431-469, April.
    13. Becker, Gary S, 1973. "A Theory of Marriage: Part I," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 813-846, July-Aug..
    14. Moen, Espen R, 1997. "Competitive Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 385-411, April.
    15. Mortensen, Dale T, 1982. "Property Rights and Efficiency in Mating, Racing, and Related Games," American Economic Review, American Economic Association, vol. 72(5), pages 968-979, December.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Fields, Gary S., 2011. "Labor market analysis for developing countries," Labour Economics, Elsevier, vol. 18(S1), pages 16-22.
    2. AOYAMA Hideaki & IYETOMI Hiroshi & YOSHIKAWA Hiroshi, 2012. "Equilibrium Distribution of Labor Productivity," Discussion papers 12041, Research Institute of Economy, Trade and Industry (RIETI).
    3. Tominey, Emma, 2016. "Female labour supply and household employment shocks: Maternity leave as an insurance mechanism," European Economic Review, Elsevier, vol. 87(C), pages 256-271.
    4. Rouhi-Rad, Mani & Brozovic, Nicholas & Mieno, Taro, 2015. "Implications of Search Frictions for Tradeable Permit Markets," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205798, Agricultural and Applied Economics Association;Western Agricultural Economics Association.
    5. Danthine, Samuel & De Vroey, Michel, 2017. "The Integration Of Search In Macroeconomics: Two Alternative Paths," Journal of the History of Economic Thought, Cambridge University Press, vol. 39(04), pages 523-548, December.
    6. repec:eee:labeco:v:50:y:2018:i:c:p:97-111 is not listed on IDEAS
    7. Matthew Groh & David McKenzie & Nour Shammout & Tara Vishwanath, 2015. "Testing the importance of search frictions and matching through a randomized experiment in Jordan," IZA Journal of Labor Economics, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 4(1), pages 1-20, December.
    8. Hiroshi Yoshikawa, 2015. "Stochastic macro-equilibrium: a microfoundation for the Keynesian economics," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 10(1), pages 31-55, April.
    9. Urmee Khan & Maxwell Stinchcombe, 2012. "The Virtues of Hesitation," Working Papers 201425, University of California at Riverside, Department of Economics, revised Sep 2014.
    10. Yiwei Gong, 0. "Estimating participants for knowledge-intensive tasks in a network of crowdsourcing marketplaces," Information Systems Frontiers, Springer, vol. 0, pages 1-19.
    11. Kostas Mavromaras & Seamus McGuinness & Nigel O'Leary & Peter Sloane & Zhang Wei, 2013. "Job Mismatches and Labour Market Outcomes: Panel Evidence on University Graduates," The Economic Record, The Economic Society of Australia, vol. 89(286), pages 382-395, September.
    12. Hideaki Aoyama & Hiroshi Iyetomi & Hiroshi Yoshikawa, 2012. "Equilibrium Distribution of Labor Productivity: A Theoretical Model," Papers 1205.2470, arXiv.org.
    13. T.M. van Huizen & Rob Alessie, 2016. "Risk Aversion and Job Mobility," Working Papers 16-09, Utrecht School of Economics.
    14. Bandopadhyay, Titas Kumar, 2014. "Job-Searching and Job-Matching in a Two-Sector General Equilibrium Model," MPRA Paper 59039, University Library of Munich, Germany.
    15. Yiwei Gong, 2017. "Estimating participants for knowledge-intensive tasks in a network of crowdsourcing marketplaces," Information Systems Frontiers, Springer, vol. 19(2), pages 301-319, April.
    16. Ioannides, Yannis M., 2018. "A DMP model of intercity trade," Labour Economics, Elsevier, vol. 50(C), pages 97-111.
    17. Thomas Huizen & Janneke Plantenga, 2014. "Job Search Behaviour and Time Preferences: Testing Exponential Versus Hyperbolic Discounting," De Economist, Springer, vol. 162(3), pages 223-245, September.

    More about this item

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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