Search Frictions on Product and Labor Markets : Money in the Matching Function

This paper builds a macroeconomic model of equilibrium unemployment in which firms persistently face difficulties in selling their production and this affects their decisions to create jobs. Due to search-frictions on the product market, equilibrium unemployment is a U-shaped function of the ratio of total demand to total supply on this market. When prices are at their Competitive Search Equilibrium values, the unemployment rate is minimized. Yet, the Competitive Search Equilibrium is not efficient. Inflation is detrimental to unemployment

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Year of publication:	[2007]
Authors:	Lehmann, Etienne
Other Persons:	Van der Linden, Bruno (contributor)
Publisher:	[2007]: [S.l.] : SSRN
Subject:	Suchtheorie \| Search theory \| Personalbeschaffung \| Recruitment \| Theorie der Arbeitslosigkeit \| Unemployment theory \| Inflation \| Verkauf \| Selling \| Matching

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Extent:	1 Online-Ressource (40 p)
Series:	IZA Discussion Paper ; No. 2718
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 2007 erstellt
Other identifiers:	10.2139/ssrn.981705 [DOI]
Classification:	E12 - Keynes; Keynesian; Post-Keynesian ; E24 - Employment; Unemployment; Wages ; E31 - Price Level; Inflation; Deflation ; J63 - Turnover; Vacancies; Layoffs
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012777086