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| Tekijä: | Albrecht, J. |
| Otsikko: | Search theory: the 2010 Nobel Memorial Prize in Economic Sciences |
| Lehti: | Scandinavian Journal of Economics
2011 : VOL. 113:2 p. 237-259 |
| Asiasana: | labour markets models unemployment workers efficiency |
| Kieli: | eng |
| Tiivistelmä: | 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. |
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