Lehrende/r: Prof. Dr. Klaus Wälde
Veranstaltungsart: Vorlesung
Anzeige im Stundenplan: V Macro Lab I
Semesterwochenstunden: 2
Unterrichtssprache: Englisch
Min. | Max. Teilnehmerzahl: - | -
Voraussetzungen / Organisatorisches: Gastdozent Prof. Dr. Carlos Carillo-Tudela (University of Essex) Wir empfehlen regelmäßig die Homepage des LS Professor Wälde zu besuchen: http://www.macro.economics.uni-mainz.de/
Zusätzliche Informationen: Search Theory of the Labour Market Prof. Dr. Carlos Carillo-Tudela (University of Essex) Objectives This course provides an in-depth analysis of the implications of search frictions for the labour market. In particular, we will analyse the existence of unemployment and of wage dispersion across similar workers. Several policy issues can be addressed within our framework, e.g., the design of unemployment insurance systems, the impact of hiring and firing costs, etc. The course will develop the main tools of the search and matching approaches and review both theoretical and empirical literature it its relation to policy relevance. Requirements Students should be familiar with dynamic programming and stochastic process techniques. Outline 1. Introduction Why are search and matching models useful to understand the labour market? 2. Job Search Theory a. Workers’ search problem. Bellman equations, Poisson processes and optimal stopping rules b. Duration of unemployment and employment spells c. Optimal unemployment insurance programs 3. Diamond-Mortensen-Pissarides models a. The matching function a. Equilibrium unemployment and worker flows b. Unemployment and Real Business Cycles 4. Burdett and Mortensen models a. Diamond paradox b. Wage distribution c. Optimal contracts 5. Other models of search frictions a. Directed and Competitive search b. Stock-Flow matching General References Pissarides C. (2000), Equilibrium Unemployment Theory, 2nd edition, MIT Press. Mortensen D. (2003), Wage Dispersion: Why are Similar People Paid Differently, 1stedition Cambridge: MIT Press. Mortensen D. and C. Pissarides (1999), “New Developments in Models of Search in the Labor Market”, Ch. 39, in Ashenfelter and Card, Handbook of Labor Economics, volume 3B, Elsevier. Rogerson R., R. Shimer, and R. Wright, (2005), “Search-Theoretic Models of the Labor Market: A Survey”, Journal of Economic Literature, December.
