Theory Ahead of Language in the Economics of Unemployment
- 1 February 1997
- journal article
- Published by American Economic Association in Journal of Economic Perspectives
- Vol. 11 (1) , 73-92
- https://doi.org/10.1257/jep.11.1.73
Abstract
This paper discusses, from the perspective of modern theories of unemployment, several unemployment concepts that have been used over the years. It argues that many of these concepts are of limited value and are dominated by a few simple concepts that are basic in the analysis of stochastic general equilibrium models.Keywords
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