Search Theory and Unemployment

by Woodbury, Stephen A.; Davidson, Carl

• ISBN13: 9781402073335
• ISBN10: 140207333X
• Format: Hardcover
• Copyright: 2003-02-01
• Publisher: Kluwer Academic Pub

Summary

Search Theory and Unemployment contains nine chapters that survey and extend the theory of job search and its application to the problem of unemployment. The volume ranges from surveys of job search theory that take microeconomic and macroeconomic perspectives to original theoretical contributions which focus on the externalities arising from non-sequential search and search under imperfect information. It includes a clear and authoritative survey of econometric methods that have been developed to estimate models of job search, as well as two lucid contributions to the empirical search literature. Finally, it includes a study that reviews and extends the literature on optimal unemployment insurance and concludes with an appraisal of the influence of search theory on the thinking of macroeconomic policymakers.

Table of Contents

Search Theory and Unemployment: An Introduction	1	(16)
Carl Davidson
Stephen A. Woodbury
Search Theory Rediscovered: Recent Developments in the Macroeconomics of the Labor Market	17	(28)
Monika Merz
Search, Bargaining, and the Business Cycle	45	(24)
Dan A. Black
Mark A. Loewenstein
Search Externalities in an Imperfectly Competitive Economy	69	(24)
Andrew John
Empirical Search Models	93	(38)
Jose J. Canals
Steven Stern
Variation in the Impact of Benefit Exhaustion on Unemployment Duration	131	(24)
John B. Engberg
Offer Arrivals Versus Acceptance	155	(22)
Theresa J. Devine
Optimal Unemployment Insurance with Risk Aversion and Job Destruction	177	(38)
Carl Davidson
Stephen A. Woodbury
Macroeconomic Policy and the Theory of Job Search	215	(24)
Bruce C. Fallick
William L. Wascher
Index	239