Nowadays, the search and matching models are the
primary and most popular theoretical tools used by economists to study all the
“matching markets”, not only the labour market. The benefit of using these
models is discussed in this theoretical economics letter. Indeed, in addressing
an important and recent economic issue, the standard and basic model in the
style of Pissarides is used with no substantial changes.
References
[1]
Calcagnini, G., Giombini, G., Liberati, P., & Travaglini, G. (2016). A Matching Model of University-Industry Collaborations. Small Business Economics, 46, 31-43.
https://doi.org/10.1007/s11187-015-9672-y
[2]
Cheng, P., Lin, Z., Liu, Y., & Seiler, M. J. (2015). The Benefit of Search in Housing Markets. Journal of Real Estate Research, 37, 597-622.
https://doi.org/10.1080/10835547.2015.12091430
[3]
Diamond, P. (2011). Unemployment, Vacancies, Wages. American Economic Review, 101, 1045-1072. https://doi.org/10.1257/aer.101.4.1045
[4]
Genesove, D., & Lu, H. (2012). Search and Matching in the Housing Market. Journal of Urban Economics, 72, 31-45. https://doi.org/10.1016/j.jue.2012.01.002
[5]
Mortensen, D. (2011). Markets with Search Friction and the DMP Model. American Economic Review, 101, 1073-1091. https://doi.org/10.1257/aer.101.4.1073
[6]
Pissarides, C. (2011). Equilibrium in the Labor Market with Search Frictions. American Economic Review, 101, 1092-1105. https://doi.org/10.1257/aer.101.4.1092
[7]
Pissarides, C. A. (2000). Equilibrium Unemployment Theory(2nd ed.). Cambridge, MA: MIT Press.
