Theory of Labor Markets with Search Frictions

Instructor: 
Time I: 
Monday,
02:15pm to 03:45pm
Time II: 
Friday,
12:15pm to 01:45pm
Venue I: 
HU Berlin, Spandauer Straße 1, Room 21b
Venue II: 
HU Berlin, Spandauer Straße 1, Room 21b
Description: 

This course explores search and matching frictions as a fundamental and defining attribute of labor markets. After addressing failures of conventional supply and demand analysis, search and matching frameworks is introduced into general equilibrium and models and the implications are explored. Next, the microfoundations of search theory are introduced and the sequential search model is developed, with extensions involving on-the-job search, learning, wage posting, directed search and competitive search equilibrium.

Literature:
Pissarides, Christopher (2000) Equilibrium Unemployment Theory Cambridge MA MIT Press
Rogerson, Richard, Robert Shimer and Randall Wright (2005) “Search-theoretic Models of the Labor Market: A Survey” Journal of Economic Literature 43: 959-588
other seleted readings from articles and textbooks.

Time and venue:
Lectures: Mondays, 14-16, Spandauer Straße 1, room 21b (starting on April 15)
Repetition: Fridays, 12-14, Spandauer Straße 1, room 21b (starting on April 19)

Credits: 
6.00
Program: 
Semester: 
Spring 2019
Affiliation: 
Humboldt-Universität zu Berlin