Search, Layoffs, and Labor Market Equilibrium Export

@article{citeulike:1034772, abstract = {The paper has two purposes: (1) to extend the theory of job search to include the case in which job prospects are characterized by layoff risk as well as the wage and (2) to synthesize the search and implicit-contract approaches by using the former to model the supply side and the latter to model the demand side of a labor market. The result is a simple and consistent theory of labor market equilibrium under conditions of imperfect information and uncertain derived demand. The theory purports to explain both search and layoff unemployment as market equilibrium phenomena.}, author = {Burdett, Kenneth and Mortensen, Dale T.}, citeulike-article-id = {1034772}, citeulike-linkout-0 = {http://www.jstor.org/stable/1837307}, journal = {The Journal of Political Economy}, keywords = {411-2, search}, number = {4}, pages = {652--672}, posted-at = {2007-01-11 03:02:58}, priority = {2}, title = {Search, Layoffs, and Labor Market Equilibrium}, url = {http://www.jstor.org/stable/1837307}, volume = {88}, year = {1980} }

TY - JOUR ID - citeulike:1034772 L3 - citeulike-article-id:1034772 N2 - The paper has two purposes: (1) to extend the theory of job search to include the case in which job prospects are characterized by layoff risk as well as the wage and (2) to synthesize the search and implicit-contract approaches by using the former to model the supply side and the latter to model the demand side of a labor market. The result is a simple and consistent theory of labor market equilibrium under conditions of imperfect information and uncertain derived demand. The theory purports to explain both search and layoff unemployment as market equilibrium phenomena. IS - 4 JF - The Journal of Political Economy EP - 672 TI - Search, Layoffs, and Labor Market Equilibrium VL - 88 SP - 652 KW - 411-2 KW - search AU - Burdett, Kenneth AU - Mortensen, Dale PY - 1980/// UR - http://www.jstor.org/stable/1837307 ER -