Economics, Econometrics and Finance
8 years ago

Unemployment and wage distribution explained through search-theoretic labor market models.

SSRN Electronic Journal
Search-Theoretic Models of the Labor Market: A Survey
Richard Rogerson, Randall Wright

Paper Summary

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The article surveys different models that use search theory to study how labor markets work. These models show how trading frictions affect unemployment and how wages are determined. They look at how individuals search for jobs and how wages are distributed. The models also explore how job creation and destruction happen in the labor market.