search query: @indexterm unemployment / total: 1236
reference: 15 / 1236
| Author: | Albrecht, J. |
| Title: | Search theory: the 2010 Nobel Memorial Prize in Economic Sciences |
| Journal: | Scandinavian Journal of Economics
2011 : VOL. 113:2 p. 237-259 |
| Index terms: | labour markets models unemployment workers efficiency |
| Language: | eng |
| Abstract: | This article surveys search theory emphasizing on the contributions of the 2010 laureates for the Nobel Memorial Prize in Economic Sciences; Peter Diamond, Dale Mortensen, and Christopher Pissarides. These laureates have made significant contributions to our understanding of how markets with search frictions function. Their DMP model provides a practical tool for understanding aggregate unemployment. The model gives clear insights about the link between labor-market policy and aggregate labor-market outcomes, and the basic DMP framework has been extended in a variety of useful directions. |
SCIMA