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Christopher A. Pissarides
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Equilibrium Unemployment Theory - 2nd Edition Subsequent Edition

4.8 4.8 out of 5 stars 7 ratings
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An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market.This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.

Previous page
  1. ISBN-10
    0262161877
  2. ISBN-13
    978-0262161879
  3. Edition
    Subsequent
  4. Publisher
    Mit Pr
  5. Publication date
    March 10, 2000
  6. Language
    English
  7. Dimensions
    6.25 x 1 x 9.25 inches
  8. Print length
    252 pages
  9. See all details
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Editorial Reviews

About the Author

Christopher A. Pissarides is Professor of Economics at the London School of Economics and a Research Associate at the National Bureau of Economic Research. He received the 2010 Nobel Prize in Economics.

Product details

  • Publisher ‏ : ‎ Mit Pr; Subsequent edition (March 10, 2000)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 252 pages
  • ISBN-10 ‏ : ‎ 0262161877
  • ISBN-13 ‏ : ‎ 978-0262161879
  • Item Weight ‏ : ‎ 1.1 pounds
  • Dimensions ‏ : ‎ 6.25 x 1 x 9.25 inches
  • Customer Reviews:
    4.8 4.8 out of 5 stars 7 ratings

About the author

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Christopher A. Pissarides

Christopher A. Pissarides

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Customer reviews

4.8 out of 5 stars
4.8 out of 5
7 global ratings

Top reviews from the United States

Authenticated Amazon User
5.0 out of 5 stars Well rounded. Readable. Enlightening.
Reviewed in the United States on December 18, 2013
Verified Purchase
The book provides an in depth and complete treatment of it's subject matter.
The math is all there. But along with the math are clear discussions of what and why.
Too often equations are thrown out there in a lump with a brief description. That approach cannot help but miss important and enlightening details or nuances. More than that, I think when you see that you should suspect that the source doesn't understand the material themselves.
From this book it is clear that this author knows the subject inside and out. Which isn't any surprise. The surprise is just how well he conveys that knowledge here.
Highly recommend this book for anyone who wants a complete understanding of this material.
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Minfei Xu
4.0 out of 5 stars The print is also good. I just wish it could be cheaper
Reviewed in the United States on October 22, 2016
Verified Purchase
A classic textbook, well-organized. The print is also good. I just wish it could be cheaper.
One person found this helpful
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Justin Yunhan Shin
5.0 out of 5 stars This is the wonderful text book for macro-labor and it must be the ...
Reviewed in the United States on January 22, 2015
Verified Purchase
This is the wonderful text book for macro-labor and it must be the bible for students who are major especially in macroeconomics and labor economics.
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Top reviews from other countries

Robby
5.0 out of 5 stars Accurate and concise
Reviewed in Canada on February 11, 2013
Verified Purchase
This high undergraduate level/graduate level is a fun read, especially since it's short but very accurate. I recommend this to anyone going into any sort of economics, and not just labour economics.
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