Upjohn Research

Title

Recent Developments in the Theory of Involuntary Unemployment

Authors

Carl Davidson, Michigan State University

Year

1990

Abstract

This monograph provides a relatively nontechnical summary of the prominent theories of unemployment that have emerged since 1960: search, disequilibrium, implicit contracts, efficiency wage, and insider/outsider models. Davidson focuses on the overall purpose of each line of research, reviewing selected articles on each of the theories. He then offers clear descriptions that make the topics readily accessible to both students and nonspecialists.

Contents

1. Introduction
2. Search Theory
3. Non-Walrasian Equilibria
4. Implicit Contracts
5. More on Wage Rigidity: Efficiency Wages and Insider/Outsider Workers
6. Conclusion

Citation

Davidson, Carl. 1990. Recent Developments in the Theory of Involuntary Unemployment. Kalamazoo, MI: W.E. Upjohn Institute for Employment Research.

ISBN

9780880991063 (pbk.)

Subject Areas

EMPLOYMENT and COMPENSATION; Job security