George R. Neumann - Böcker

"Structural Models of Wage and Employment Dynamics" contains selected papers from a conference held in honour of Professor Dale T. Mortensen upon the occasion of his 65th birthday. The papers are on some of Professor Dale T. Mortensen's current research topics: the development of equilibrium dynamic models designed to account for wage dispersion and the time series behaviour of job and worker flows. The conference is the sixth in a series. From the beginning there has been a close interplay among economic theorists, econometricians, and applied economists. This book also has a section with theoretical papers as well as sections with micro- and macro-econometric papers. These conferences have had significant influence on how we think about public policy in the labour market, and what kinds of data would be needed to answer questions about these policies. Contributions to Economic Analysis was established in 1952. The series purpose is to stimulate the international exchange of scientific information. The series includes books from all areas of macroeconomics and microeconomics.

This 1989 collection of papers marks the development of empirical application of the search approach to labor economics - an approach which arose as a theoretical development of the 1960s and led to numerous insights in the 1970s. The search approach naturally incorporates uncertainty in the economic model, making up some of the early work in what is now called 'the economics of information'. Included are econometric issues such as estimation and specification of search models for wages and unemployment duration, continuous time models of turnover, and identification of structural parameters. Applications to policy questions including Unemployment Insurance and wage subsidy programs are given, and data collection issues are discussed within the search framework.