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December 10, 2009 | History

The unemployment volatility puzzle 1 edition

The unemployment volatility puzzle
Christopher A. Pissarides

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The unemployment volatility puzzle
is wage stickiness the answer?
Christopher A. Pissarides.

Published 2007 by Centre for Economic Performance, London School of Economics and Political Science in London .
Written in English.

About the Book

study the cyclical behavior of an equilibrium search model with endogenous job creation and destruction, with focus on the model's failure to match the observed cyclical volatility of unemployment. Job creation in the model is influenced by wages in new matches. I summarize microeconometric evidence on wages in new matches and show that the key model elasticities are consistent with the evidence. Therefore explanations of the unemployment volatility puzzle have to preserve the cyclical volatility of wages. I discuss some extensions of the model that can increase cyclical unemployment volatility through mechanisms other than wage stickiness.

Edition Notes

Title from publisher's abstract page (viewed on Jan. 4, 2008).

"November 2007."

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.

Series
CEP discussion paper -- no. 839

Classifications

Library of Congress
HC10

The Physical Object

Format
Electronic resource

ID Numbers

Open Library
OL16390240M
LC Control Number
2007619443

History

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December 10, 2009 Created by WorkBot add works page