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Equilibrium unemployment theory Christopher A. Pissarides
Publisher: MIT

To the best of our knowledge, this is the first attempt to implement and systematically compare these solutions in search-matching economies. In a smoothly functioning < Figure 1: A Supply and Demand Model for Labor. Figure 1: A Supply and Demand Model for Labor. 1994 Report and Financial Statements. The Classical Theory of Unemployment. Equilibrium Unemployment Theory, Cambridge: MIT. 4 Labor market equilibria and properties. 4.3 Equilibria of unemployment. 3.4 The Kalai-Smorodinsky solution. I argue that the unemployment rate returns to a level that depends on wealth and, just as there are many equilibrium unemployment rates, so there are many equilibrium values for the prices of assets.