Labor, Credit, and Goods Markets: The Macroeconomics of Search and Unemployment (MIT Press)
| Author | : | |
| Rating | : | 4.37 (734 Votes) |
| Asin | : | 0262036452 |
| Format Type | : | paperback |
| Number of Pages | : | 272 Pages |
| Publish Date | : | 2015-11-13 |
| Language | : | English |
DESCRIPTION:
. About the Author Nicolas Petrosky-Nadeau is Senior Economist at the Federal Reserve Bank of San Francisco.Etienne Wasmer is Professor of Economics at Sciences Po, Paris, where he is also Cofounder and Codirector of the Interdisciplinary Research Center for the Evaluation of Public Policies
It shows, in particular, how frictions in different markets interact with each other.The book first covers the main developments in the analysis of the labor market in the presence of frictions, offering a systematic analysis of the dynamics of this environment and explaining the notion of macroeconomic volatility. It begins with the standard analysis of a single market, and then sequentially integrates more markets into the analysis, progressing from labor to financial to goods markets. Pissarides, which provided a new theoretical approach to search markets, the book applies this new paradigm to labor, finance, and goods markets. Then, building on the generality and simplicity of the search analysis, the book adapts it to other markets, developing the tools and concepts to analyze friction in these markets. Mortensen, and Christopher A. The book goes beyond the traditional general equilibrium analysis of markets, which is often frictionless. Along the way, the book provides a number of useful results and insights, including the existence of a direct link between search frictions and the degree of volatility in
Nicolas Petrosky-Nadeau is Senior Economist at the Federal Reserve Bank of San Francisco.Etienne Wasmer is Professor of Economics at Sciences Po, Paris, where he is also Cofounder and Codirector of the Interdisciplinary Research Center for the Evaluation of Public Policies.