 Christopher A. Pissarides (1948–)Chapter Chapter 35 in The Palgrave Companion to LSE Economics, 2019, pp 857-893 from Palgrave Macmillan Abstract: Abstract Chris Pissarides has pioneered the concept of equilibrium unemployment arising from search and matching frictions. In his theory, unemployment is neither Keynesian nor classical, but results from a lack of information about job opportunities and imperfect knowledge of the location and skills of job seekers. This approach has major importance for the analysis of labor markets as well as aggregate policies. In particular, it emphasizes active labor market policies, the adverse effect of passive compensation, the importance of interest rates and aggregate demand, of adequate wage compensation, and the role of firm’s profits. In 2010, Chris received the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel together with Peter Diamond and Dale Mortensen for their work on markets with search frictions. Keywords: Labour markets; Active labour market policies; Equilibrium unemployment; Sectoral change; Balanced growth path (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-58274-4_35 Ordering information: This item can be ordered from DOI: 10.1057/978-1-137-58274-4_35 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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