Search-theoretic models of the labor market
By: Richard Rogerson, Robert Shimer, Randall Wright.
Contributors: Shimer, Robert.; Wright, Randall.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10655; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10655.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Labor market -- Econometric models
Description: "We survey search-theoretic models of the labor market and discuss their usefulness for analyzing labor market dynamics, job turnover, and wages.  We first examine single-agent models, showing how they can incorporate many interesting features and generate rich predictions.  We then consider equilibrium models that endogenize several variables that are treated parametrically in single-agent models, including the arrival rate of job offers and the wage distribution.  We survey alternative formulations of these models, emphasizing two key issues: how workers and firms meet, and how wages are determined.  We emphasize throughout the implications of alternative assumptions for turnover, wage dispersion, and efficiency"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
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