The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Search Models of Unemployment

  • David Andolfatto
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2068

Abstract

Unemployment, as it is conventionally defined, is a measure of full-time job search. Individuals generally have the option of allocating their time across many competing uses. It follows that an economic interpretation of unemployment data requires a theory that explains the circumstances in which people may prefer to engage in job search at the expense of other activities. Search models of unemployment are designed to do just this.

Keywords

Beveridge curve Business cycles Efficient allocation Involuntary unemployment Leisure Matching Matching markets Natural rate of unemployment Reservation wage Search models of unemployment Search theory Unemployment Unemployment insurance Wage determination 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • David Andolfatto
    • 1
  1. 1.