Equilibrium search unemployment with explicit spatial frictions
نویسندگان
چکیده
منابع مشابه
Competitive equilibrium with search frictions: A general equilibrium approach
When the trading process is characterized by search frictions, traders may be rationed so markets need not clear. We build a general equilibrium model with transferable utility where the uncertainty arising from rationing is incorporated in the definition of a commodity, in the spirit of the Arrow–Debreu theory. Prices of commodities then depend not only on their physical characteristics, but a...
متن کاملEquilibrium Search with Time-Varying Unemployment Benefits∗
In this paper we show how time-varying unemployment benefits can generate equilibrium wage dispersion in an economy in which identical firms post wages and homogeneous risk-averse workers search for acceptable offers. We model a two-tier unemployment benefit system that is similar to real-world unemployment insurance programs. We assume that the unemployed initially receive benefits at rate b. ...
متن کاملOptimal Unemployment Insurance in Search Equilibrium
Should unemployment benefits be paid indefinitely at a fixed rate or should it decline (or increase) over a worker’s unemployment spell? We examine these issues using an equilibrium model of search unemployment. The model features worker-firm bargaining over wages, free entry of new jobs, and endogenous search effort among the unemployed. The main result is that an optimal insurance program imp...
متن کاملMarkets with Search Frictions
THE ROYAL SWEDISH ACADEMY OF SCIENCES has as its aim to promote the sciences and strengthen their influence in society.
متن کاملSpatial Equilibrium with Unemployment and Wage Bargaining: Theory and Estimation∗
In this paper we present a spatial equilibrium model where search frictions hinder the immediate reallocation of workers both within and across local labour markets. Because of the frictions, firms and workers find themselves in bilateral monopoly positions when determining wages. Although workers are not at each instant perfectly mobile across cities, in the baseline model we assume that worke...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Labour Economics
سال: 2006
ISSN: 0927-5371
DOI: 10.1016/j.labeco.2004.09.002