文章基本信息

标题：Search Frictions, Efficiency Wages and Equilibrium Unemployment
本地全文：下载
作者：Chris Martin ; Bingsong Wang
期刊名称：Mutis
印刷版ISSN：2256-1498
出版年度：2018
卷号：10
期号：1
页码：45-54
出版社：Universidad Jorge Tadeo Lozano
摘要：This paper explores the decomposition of equilibrium unemployment into involuntary and frictional components using a model that combines efficiency wages with search and matching frictions in the labour market. In deriving our results we generalise the celebrated Solow Condition, expressing the wage as the sum of a pure efficiency wage component and a component that reflects search frictions. Using standard values of calibrated parameters, we find that the bulk of unemployment is involuntary.
关键词：efficiency wages;search frictions;equilibrium unemployment