A note on the competitive search model of Azariadis and Pissarides

Ryoji Hiraguchi ()

European Economic Review, 2011, vol. 55, issue 2, 304-306

Abstract: In this short note, I reinvestigate a recent paper of Azariadis and Pissarides (Unemployment dynamics with international capital mobility, European Economic Review, 2007(51), 27-48) where wages are determined in a competitive search setting. I show that their equation on the equilibrium wage rate is incorrect. I derive a correct wage equation and perform the numerical analysis. The correction does not change their result and high capital mobility still raises the variability of the unemployment rate.

Keywords: Competitive; search; Unemployment (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eecrev:v:55:y:2011:i:2:p:304-306

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