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A search equilibrium approach to rea...

Hung, Chia-yu.

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A search equilibrium approach to real business cycle theory.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	A search equilibrium approach to real business cycle theory./
Author:	Hung, Chia-yu.
Description:	107 p.
Notes:	Major Professors: John M. Barron; Kenneth Matheny.
Contained By:	Dissertation Abstracts International57-11A.
Subject:	Economics, General. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9713528
ISBN:	9780591211825

A search equilibrium approach to real business cycle theory.
Hung, Chia-yu.

A search equilibrium approach to real business cycle theory. - 107 p.

Major Professors: John M. Barron; Kenneth Matheny.

Thesis (Ph.D.)--Purdue University, 1996.

This dissertation attempts to construct an explicit theory of unemployment. The basic framework is a revised Hansen's real business cycle (RBC) model with divisible labor. Search theory is incorporated to remedy the inadequacy in RBC's modeling the labor market. Unemployed workers or firms with vacancies incur costs when they search for jobs or employees. Since the costs depend on the tightness or thinness of output and labor markets, there exists externalities that affect individuals' decisions. We utilize Pissarides' (1990) specification on the dependence of firm's employment on aggregate labor-market performance to incorporate search/matching elements into our model.

ISBN: 9780591211825Subjects--Topical Terms:

1017424
Economics, General.

A search equilibrium approach to real business cycle theory.
LDR:02440nam 2200313 a 45 001 948347
005 20110524
008 110524s1996 eng d
020 $a 9780591211825
035 $a (UMI)AAI9713528
035 $a AAI9713528
040 $a UMI $c UMI
100 1 $a Hung, Chia-yu. $3 1271807
245 1 2 $a A search equilibrium approach to real business cycle theory.
300 $a 107 p.
500 $a Major Professors: John M. Barron; Kenneth Matheny.
500 $a Source: Dissertation Abstracts International, Volume: 57-11, Section: A, page: 4842.
502 $a Thesis (Ph.D.)--Purdue University, 1996.
520 $a This dissertation attempts to construct an explicit theory of unemployment. The basic framework is a revised Hansen's real business cycle (RBC) model with divisible labor. Search theory is incorporated to remedy the inadequacy in RBC's modeling the labor market. Unemployed workers or firms with vacancies incur costs when they search for jobs or employees. Since the costs depend on the tightness or thinness of output and labor markets, there exists externalities that affect individuals' decisions. We utilize Pissarides' (1990) specification on the dependence of firm's employment on aggregate labor-market performance to incorporate search/matching elements into our model.
520 $a This thesis integrates the equilibrium approach of the RBC models and search theory. An equilibrium approach is a good starting point to construct a model to study business fluctuations. Search theory provides a more detail analysis of the matching of heterogeneous workers and firms. The externalities raised by search affect individuals' decisions and thus accelerate the effect of initial productivity shocks and lead to a persistent and serially correlated response of unemployment. The RBC models have shown to have a powerful prediction power. We implement the quantitative techniques adopted by real business cycle theorists to test the integrated model. The search aspects of our model introduces important labor variables into the model, expanding the empirical content of the simulations.
590 $a School code: 0183.
650 4 $a Economics, General. $3 1017424
650 4 $a Economics, Labor. $3 1019135
650 4 $a Economics, Theory. $3 1017575
690 $a 0501
690 $a 0510
690 $a 0511
710 2 0 $a Purdue University. $3 1017663
773 0 $t Dissertation Abstracts International $g 57-11A.
790 $a 0183
790 1 0 $a Barron, John M., $e advisor
790 1 0 $a Matheny, Kenneth, $e advisor
791 $a Ph.D.
792 $a 1996
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9713528