Equilibrium unemployment

被引：59
|
作者：
Gomes, J
Greenwood, J
Rebelo, S
机构：
[1] Univ Rochester, Dept Econ, Rochester, NY 14627 USA
[2] Univ Penn, Wharton Sch, Dept Finance, Philadelphia, PA 19104 USA
[3] Northwestern Univ, JL Kellogg Grad Sch Management, Dept Finance, Evanston, IL 60208 USA
来源：
JOURNAL OF MONETARY ECONOMICS | 2001年 / 48卷 / 01期
基金：
美国国家科学基金会;
关键词：
search; incomplete markets; business cycles; unemployment insurance; welfare costs of business cycles;
D O I：
10.1016/S0304-3932(01)00071-X
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
A search-theoretic model of equilibrium unemployment is constructed and shown to be consistent with the key regularities of the labor market and business cycle. The two distinguishing features of the model are: (i) the decision to accept or reject jobs is modeled explicitly, and (ii) markets are incomplete. The model is well suited to address a number of interesting policy questions. Two such applications are provided: the impact of unemployment insurance, and the welfare costs of business cycles. (C) 2001 Elsevier Science B.V. All rights reserved.
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页码：109 / 152
页数：44
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