000			01983nam a2200253Ia 4500
999			_c1224 _d1224
003			DE-boiza
005			20191029092215.0
008			191008
020			_a0-262-16187-7
040			_cIZA
100			_aPissarides. Christopher A. _93548
245		0	_aEquilibrium Unemployment Theory
250			_a2. ed.
260			_c2000 _bMIT Press, _aCambridge, Mass.,
300			_a252 pages
340			_hE2 29
520			_aThis book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.
650			_aequilibrium theory _9980
650			_amathematical model _93549
650			_aunemployment _93550
650			_awages _95311
856			_uhttps://mitpress.mit.edu/books/equilibrium-unemployment-theory-second-edition _yPublisher's website
942			_cBO _2ddc