Labor, Credit, and Goods Markets by Nicolas Petrosky-Nadeau

Labor, Credit, and Goods Markets by Nicolas Petrosky-Nadeau

An integrated framework to study the theoretical and quantitative properties of economies with frictions in labor, financial, and goods markets.This book offers an integrated framework to study the theoretical and quantitative properties of economies with frictions in multiple markets. Building on analyses of markets with frictions by 2010 Nobel laureates Peter A. Diamond, Dale T. Mortensen, and Christopher A. Pissarides, which provided a new theoretical approach to search markets, the book applies this new paradigm to labor, finance, and goods markets. It shows, in particular, how frictions in different markets interact with each other.The book first covers the main developments in the analysis of the labor market in the presence of frictions, offering a systematic analysis of the dynamics of this environment and explaining the notion of macroeconomic volatility. Then, building on the generality and simplicity of the search analysis, the book adapts it to other markets, developing the tools and concepts to analyze friction in these markets. The book goes beyond the traditional general equilibrium analysis of markets, which is often frictionless. It begins with the standard analysis of a single market, and then sequentially integrates more markets into the analysis, progressing from labor to financial to goods markets. Along the way, the book provides a number of useful results and insights, including the existence of a direct link between search frictions and the degree of volatility in the economy.

SKU	Unavailable
ISBN 13	9780262036450
ISBN 10	0262036452
Title	Labor, Credit, and Goods Markets
Author	Nicolas Petrosky-Nadeau
Series	Labor Credit And Goods Markets
Condition	Unavailable
Binding Type	Hardback
Publisher	MIT Press Ltd
Year published	2017-11-10
Number of pages	272
Cover note	Book picture is for illustrative purposes only, actual binding, cover or edition may vary.