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On the Efficiency of Matching and Related Models of Search and Unemployment
Abstract
This paper describes a simple framework for evaluating the allocative performance of economies characterized by trading frictions and unemployment. This framework integrates the normative results of earlier Diamond-Mortensen-Pissarides bilateral matching-bargaining models of trade coordination and price-setting, and consists of a set of general conditions for constrained Pareto efficient resource allocation that are applicable to conventional natural rate models. To illustrate, several conventional models of the labour market are reformulated as matching-bargaining problems and analyzed using this framework.
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Citations
Cited by
Chicken & Egg: Competition among Intermediation Service Providers
Caillaud, B., & Jullien, B. (2003) · The RAND Journal of Economics · doi:10.2307/1593720 · Cited by 1,799
A Unified Framework for Monetary Theory and Policy Analysis
(2005) · doi:10.1086/429804 · Cited by 1,527
Search-Theoretic Models of the Labor Market: A Survey
Rogerson, R., Shimer, R., & Wright, R. (2005) · Journal of Economic Literature · doi:10.1257/002205105775362014 · Cited by 1,051
Liquidity: A New Monetarist Perspective
Lagos, R., Rocheteau, G., & Wright, R. (2017) · Journal of Economic Literature · doi:10.1257/jel.20141195 · Cited by 267
Household Debt Overhang and Unemployment
DONALDSON, J. R., PIACENTINO, G., & THAKOR, A. (2019) · The Journal of Finance · doi:10.1111/jofi.12760 · Cited by 74
Metadata
- Authors
- Hosios, A. J.
- Venue
- The Review of Economic Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 1990-04
- Volume
- 57
- Issue
- 2
- Pages
- 279
- ISSN
- 0034-6527 (ISSN-L)
- OpenAlex
- W1963884123
- Cited by
- 1,547
- References
- 0
- FWCI
- 11.37
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: On the Efficiency of Matching and Related Models of Search and Unemployment. https://app.cochat.ai/papers/10.2307/2297382
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- Hosios, A. J. (1990). On the Efficiency of Matching and Related Models of Search and Unemployment. The Review of Economic Studies. https://doi.org/10.2307/2297382
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
