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Equilibrium unemployment theory Christopher A. Pissarides
Publisher: MIT

Pissarides for taking home the 2010 Nobel Prize. The Great Depression disproved that theory. Obstfeld & K Rogoff, Foundations of International Macroeconomics, MIT Press, 2000; P Aghion & P Howitt, Endogenous Growth Theory, MIT Press 1998; C A Pissarides, Equilibrium Unemployment Theory, MIT Press 2000. Extended Unemployment Benefits and Unemployment Spells. I discuss the role of economic theory in empirical work in development economics with special emphasis on general equilibrium and political economy considerations. As Alex Tabarrok notes, this year's prize can usefully be thought of as a prize for unemployment theory. Equilibrium Unemployment Theory, second edition, Cambridge, MA: MIT Press, 2000 (reprinted 2007) Equilibrium Unemployment Theory, Oxford: Basil Blackwell, 1990. We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. (1990) Equilibrium Unemployment Theory, Oxford, Basil Blackwell. Sound's a bit like Say's Law, the theory that unemployment cannot increase indefinitely as eventually wages will fall and labour will become cheap. (1996) “Unemployment Hysteresis - Macro Evidence from 16 OECD Countries” Empirical Economics 21: 589- 600.