Competitive Search Equilibrium
- 1 April 1997
- journal article
- Published by University of Chicago Press in Journal of Political Economy
- Vol. 105 (2) , 385-411
- https://doi.org/10.1086/262077
Abstract
In this paper, the author constructs an equilibrium for markets with frictions, which is competitive in the sense that all agents are price takers and maximize utility subject to a set of market parameters. He shows that the equilibrium can be achieved if employers with vacancies can advertise publicly the wages they pay. Copyright 1997 by the University of Chicago.Keywords
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