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Equilibrium Urban Unemployment

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  • Etienne Wasmer

    (Crest)

  • Yves Zenou

    (Crest)

Abstract

We introduce a spatial dimension in a search equilibrium unemployment model. By assuming that workers'search efficiency decreases with the distance to the employment-center, two urban equilibrium configurations emerge: either the unemployed reside close to the employment-center or far away from it, depending on the values of the commuting costs and of the surplus associated with search, which depends on the labor market equilibrium. The labor market equilibrium itself depends crucially on these urban equilibria. We show that the unemployment level is lower in the first urban equilibrium.
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Suggested Citation

  • Etienne Wasmer & Yves Zenou, 1997. "Equilibrium Urban Unemployment," Working Papers 97-22, Center for Research in Economics and Statistics.
    • Handle: RePEc:crs:wpaper:97-22
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    Cited by:

    1. Richard Arnott, 1998. "Economic Theory and the Spatial Mismatch Hypothesis," Urban Studies, Urban Studies Journal Limited, vol. 35(7), pages 1171-1185, June.
    2. Zenou, Yves, 1999. "Urban Unemployment and City Formation. Theory and Policy Implications," Seminar Papers 662, Stockholm University, Institute for International Economic Studies.
    3. Jacques-François Thisse & Yves Zenou, 1997. "Segmentation et marchés locaux du travail," Économie et Prévision, Programme National Persée, vol. 131(5), pages 65-76.
    4. Wei Xiao, 2014. "Search Frictions, Unemployment, And Housing In Cities: Theory And Policies," Journal of Regional Science, Wiley Blackwell, vol. 54(3), pages 422-449, June.

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