unemployment: Models and policies
author・Pascal Michaillat
date・September 2021
school・Brown University
permalink・https://www.pascalmichaillat.org/t1.html
date・September 2021
school・Brown University
permalink・https://www.pascalmichaillat.org/t1.html
matching function
lecture video 1・Why Do We Care About Unemployment? (9 mins)
lecture video 2・Absence of Unemployment in the Competitive Model (6 mins)
lecture video 3・Organization of the Labor Market (17 mins)
lecture video 4・Unemployment Rate (8 mins)
lecture video 5・Vacancy Rate (8 mins)
lecture video 6・Beveridge Curve (9 mins)
lecture video 7・Job-Finding Rate (10 mins)
lecture video 8・Vacancy-Filling Rate (5 mins)
lecture video 9・Job-Separation Rate (9 mins)
lecture video 10・Matching Function (12 mins)
lecture video 11・Labor Market Tightness (11 mins)
lecture video 2・Absence of Unemployment in the Competitive Model (6 mins)
lecture video 3・Organization of the Labor Market (17 mins)
lecture video 4・Unemployment Rate (8 mins)
lecture video 5・Vacancy Rate (8 mins)
lecture video 6・Beveridge Curve (9 mins)
lecture video 7・Job-Finding Rate (10 mins)
lecture video 8・Vacancy-Filling Rate (5 mins)
lecture video 9・Job-Separation Rate (9 mins)
lecture video 10・Matching Function (12 mins)
lecture video 11・Labor Market Tightness (11 mins)
reading 1・Looking into the Black Box: A Survey of the Matching Function
reading 2・The Beveridge Curve: A Survey
reading 3・Reassessing the Ins and Outs of Unemployment
reading 2・The Beveridge Curve: A Survey
reading 3・Reassessing the Ins and Outs of Unemployment
matching model of the labor market
lecture video 12・Properties of a Good Model According to Kuhn (17 mins)
LABOR SUPPLY
lecture video 13・Notations (8 mins)
lecture video 14・Labor Market Flows (8 mins)
lecture video 15・Assumption of Balanced Flows (7 mins)
lecture video 16・Computing the Labor Supply (13 mins)
lecture video 17・Properties of the Labor Supply (8 mins)
lecture video 13・Notations (8 mins)
lecture video 14・Labor Market Flows (8 mins)
lecture video 15・Assumption of Balanced Flows (7 mins)
lecture video 16・Computing the Labor Supply (13 mins)
lecture video 17・Properties of the Labor Supply (8 mins)
LABOR DEMAND
lecture video 18・Organization of the Firm (8 mins)
lecture video 19・Computing the Recruiter-Producer Ratio (13 mins)
lecture video 20・Properties of the Recruiter-Producer Ratio (14 mins)
lecture video 21・Profits of the Firm (14 mins)
lecture video 22・Problem of the Firm (5 mins)
lecture video 23・Computing the Labor Demand (5 mins)
lecture video 24・Properties of the Labor Demand (17 mins)
lecture video 18・Organization of the Firm (8 mins)
lecture video 19・Computing the Recruiter-Producer Ratio (13 mins)
lecture video 20・Properties of the Recruiter-Producer Ratio (14 mins)
lecture video 21・Profits of the Firm (14 mins)
lecture video 22・Problem of the Firm (5 mins)
lecture video 23・Computing the Labor Demand (5 mins)
lecture video 24・Properties of the Labor Demand (17 mins)
EQUILIBRIUM
lecture video 25・Review of Labor Supply and Demand (4 mins)
lecture video 26・Irrelevance of Unemployment Dynamics (14 mins)
lecture video 27・Finding the Wage in a Competitive Model (17 mins)
lecture video 28・Finding Labor Market Tightness in a Matching Model (16 mins)
lecture video 29・Graphical Representation of the Equilibrium (5 mins)
lecture video 30・Complete Description of the Equilibrium (8 mins)
lecture video 25・Review of Labor Supply and Demand (4 mins)
lecture video 26・Irrelevance of Unemployment Dynamics (14 mins)
lecture video 27・Finding the Wage in a Competitive Model (17 mins)
lecture video 28・Finding Labor Market Tightness in a Matching Model (16 mins)
lecture video 29・Graphical Representation of the Equilibrium (5 mins)
lecture video 30・Complete Description of the Equilibrium (8 mins)
lecture notes 2・Matching Model of the Labor Market
wages
EMPIRICAL EVIDENCE
lecture video 31・Unemployment over the Business Cycle (14 mins)
lecture video 32・Unemployment in the Matching Model (7 mins)
lecture video 33・Sources of Business Cycles (10 mins)
lecture video 34・Wages over the Business Cycle (6 mins)
lecture video 35・Wages in the Matching Model (10 mins)
lecture video 36・Unions (10 mins)
lecture video 37・Minimum Wage (8 mins)
lecture video 38・Efficiency Wages (11 mins)
lecture video 31・Unemployment over the Business Cycle (14 mins)
lecture video 32・Unemployment in the Matching Model (7 mins)
lecture video 33・Sources of Business Cycles (10 mins)
lecture video 34・Wages over the Business Cycle (6 mins)
lecture video 35・Wages in the Matching Model (10 mins)
lecture video 36・Unions (10 mins)
lecture video 37・Minimum Wage (8 mins)
lecture video 38・Efficiency Wages (11 mins)
WAGE FUNCTIONS
lecture video 39・Fixed Wages (11 mins)
lecture video 40・Rigid Wages (11 mins)
lecture video 41・Bargained Wages (17 mins)
lecture video 42・Surplus of the Firm (7 mins)
lecture video 43・Surplus of the Worker (11 mins)
lecture video 44・Surplus Sharing (11 mins)
lecture video 45・Properties of Bargained Wages (12 mins)
lecture video 39・Fixed Wages (11 mins)
lecture video 40・Rigid Wages (11 mins)
lecture video 41・Bargained Wages (17 mins)
lecture video 42・Surplus of the Firm (7 mins)
lecture video 43・Surplus of the Worker (11 mins)
lecture video 44・Surplus Sharing (11 mins)
lecture video 45・Properties of Bargained Wages (12 mins)
lecture notes 3・Wages
reading 6・The Cyclical Behavior of Equilibrium Unemployment and Vacancies
reading 7・Equilibrium Unemployment Theory
reading 7・Equilibrium Unemployment Theory
unemployment fluctuations
RIGID WAGES
lecture video 46・Matching Model with Rigid Wages (10 mins)
lecture video 47・Business-Cycle Shocks (3 mins)
lecture video 48・Labor Supply Shocks with Rigid Wages (14 mins)
lecture video 49・Labor Demand Shocks with Rigid Wages (15 mins)
lecture video 50・Definition, Interpretation, and Properties of Elasticities (25 mins)
lecture video 51・Fluctuations in Tightness with Rigid Wages (8 mins)
lecture video 52・Elasticity of the Labor Supply (5 mins)
lecture video 53・Elasticity of the Recruiter-Producer Ratio (4 mins)
lecture video 54・Elasticity of the Labor Market Tightness (17 mins)
lecture video 55・Wage Rigidity Required to Generate Realistic Fluctuations (14 mins)
lecture video 46・Matching Model with Rigid Wages (10 mins)
lecture video 47・Business-Cycle Shocks (3 mins)
lecture video 48・Labor Supply Shocks with Rigid Wages (14 mins)
lecture video 49・Labor Demand Shocks with Rigid Wages (15 mins)
lecture video 50・Definition, Interpretation, and Properties of Elasticities (25 mins)
lecture video 51・Fluctuations in Tightness with Rigid Wages (8 mins)
lecture video 52・Elasticity of the Labor Supply (5 mins)
lecture video 53・Elasticity of the Recruiter-Producer Ratio (4 mins)
lecture video 54・Elasticity of the Labor Market Tightness (17 mins)
lecture video 55・Wage Rigidity Required to Generate Realistic Fluctuations (14 mins)
BARGAINED WAGES
lecture video 56・Matching Model with Bargained Wages (19 mins)
lecture video 57・Labor Supply Shocks with Bargained Wages (10 mins)
lecture video 58・Labor Demand Shocks with Bargained Wages (12 mins)
lecture video 59・Fluctuations in Tightness with Bargained Wages (18 mins)
lecture video 60・Value from Unemployment (17 mins)
lecture video 61・Bargained Wages Cannot Generate Realistic Fluctuations (7 mins)
lecture video 56・Matching Model with Bargained Wages (19 mins)
lecture video 57・Labor Supply Shocks with Bargained Wages (10 mins)
lecture video 58・Labor Demand Shocks with Bargained Wages (12 mins)
lecture video 59・Fluctuations in Tightness with Bargained Wages (18 mins)
lecture video 60・Value from Unemployment (17 mins)
lecture video 61・Bargained Wages Cannot Generate Realistic Fluctuations (7 mins)
lecture notes 4・Unemployment fluctuations
reading 8・Employment Fluctuations with Equilibrium Wage Stickiness
reading 9・The Limited Influence of Unemployment on the Wage Bargain
reading 10・The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited
reading 9・The Limited Influence of Unemployment on the Wage Bargain
reading 10・The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited
frictional & rationing unemployment
NO JOB RATIONING IN USUAL MODELS
lecture video 62・Introduction to Job Rationing (15 mins)
lecture video 63・Evolution of Matching Models: The Standard Model (12 mins)
lecture video 64・Evolution of Matching Models: The Rigid-Wage Model (14 mins)
lecture video 65・Evolution of Matching Models: The Job-Rationing Model (8 mins)
lecture video 66・All Unemployment is Frictional in Standard & Rigid-Wage Models (6 mins)
lecture video 67・Standard Model with Zero Recruiting Cost (17 mins)
lecture video 68・Rigid-Wage Model with Zero Recruiting Cost (14 mins)
lecture video 69・The Case of Infinite Job-Search Effort (18 mins)
lecture video 70・Standard Model with Infinite Job-Search Effort (13 mins)
lecture video 71・Rigid-Wage Model with Infinite Job-Search Effort (9 mins)
lecture video 62・Introduction to Job Rationing (15 mins)
lecture video 63・Evolution of Matching Models: The Standard Model (12 mins)
lecture video 64・Evolution of Matching Models: The Rigid-Wage Model (14 mins)
lecture video 65・Evolution of Matching Models: The Job-Rationing Model (8 mins)
lecture video 66・All Unemployment is Frictional in Standard & Rigid-Wage Models (6 mins)
lecture video 67・Standard Model with Zero Recruiting Cost (17 mins)
lecture video 68・Rigid-Wage Model with Zero Recruiting Cost (14 mins)
lecture video 69・The Case of Infinite Job-Search Effort (18 mins)
lecture video 70・Standard Model with Infinite Job-Search Effort (13 mins)
lecture video 71・Rigid-Wage Model with Infinite Job-Search Effort (9 mins)
A MODEL WITH JOB RATIONING
lecture video 72・Generating Job Rationing (6 mins)
lecture video 73・Unemployment with Zero Recruiting Cost (14 mins)
lecture video 74・Defining Rationing Unemployment (11 mins)
lecture video 75・When is Rationing Unemployment Positive? (13 mins)
lecture video 76・Unemployment with Infinite Job-Search Effort (14 mins)
lecture video 77・Measuring Frictional and Rationing Unemployment (8 mins)
lecture video 78・Frictional and Rationing Unemployment over the Business Cycle (12 mins)
lecture video 79・Frictional and Rationing Unemployment in a Calibrated Model (9 mins)
lecture video 72・Generating Job Rationing (6 mins)
lecture video 73・Unemployment with Zero Recruiting Cost (14 mins)
lecture video 74・Defining Rationing Unemployment (11 mins)
lecture video 75・When is Rationing Unemployment Positive? (13 mins)
lecture video 76・Unemployment with Infinite Job-Search Effort (14 mins)
lecture video 77・Measuring Frictional and Rationing Unemployment (8 mins)
lecture video 78・Frictional and Rationing Unemployment over the Business Cycle (12 mins)
lecture video 79・Frictional and Rationing Unemployment in a Calibrated Model (9 mins)
lecture notes 5・Frictional and Rationing Unemployment
reading 11・Do Matching Frictions Explain Unemployment? Not in Bad Times
reading 12・Aggregate Demand, Idle Time, and Unemployment
reading 13・An Economical Business-Cycle Model
reading 12・Aggregate Demand, Idle Time, and Unemployment
reading 13・An Economical Business-Cycle Model
efficient unemployment & unemployment gap
MATCHING MODELS
lecture video 80・Why Do We Need to Know the Efficient Unemployment Rate? (6 mins)
lecture video 81・Natural Rate and NAIRU (15 mins)
lecture video 82・Defining the Efficient Unemployment Rate (16 mins)
lecture video 83・Problem of the Social Planner (8 mins)
lecture video 84・Solution to the Planner's Problem (15 mins)
lecture video 85・Computing the Efficient Labor Market Tightness (9 mins)
lecture video 86・Graphical Representation of Matching Efficiency (14 mins)
lecture video 87・Why Is the Labor Market Generally Inefficient? (10 mins)
lecture video 80・Why Do We Need to Know the Efficient Unemployment Rate? (6 mins)
lecture video 81・Natural Rate and NAIRU (15 mins)
lecture video 82・Defining the Efficient Unemployment Rate (16 mins)
lecture video 83・Problem of the Social Planner (8 mins)
lecture video 84・Solution to the Planner's Problem (15 mins)
lecture video 85・Computing the Efficient Labor Market Tightness (9 mins)
lecture video 86・Graphical Representation of Matching Efficiency (14 mins)
lecture video 87・Why Is the Labor Market Generally Inefficient? (10 mins)
BEVERIDGEAN MODELS
lecture video 88・Description of Beveridgean Models (9 mins)
lecture video 89・Social Welfare in Beveridgean Models (13 mins)
lecture video 90・Efficiency in Beveridgean Models (12 mins)
lecture video 91・Graphical Representation of Beveridgean Efficiency (16 mins)
lecture video 92・Comparative Statics for the Efficient Unemployment Rate (11 mins)
lecture video 93・Graphical Representation of the Unemployment Gap (10 mins)
lecture video 94・Sufficient-Statistic Formula for the Efficient Tightness (12 mins)
lecture video 95・Implementing the Sufficient-Statistic Formula (14 mins)
lecture video 96・Unemployment Gap in the United States (10 mins)
lecture video 88・Description of Beveridgean Models (9 mins)
lecture video 89・Social Welfare in Beveridgean Models (13 mins)
lecture video 90・Efficiency in Beveridgean Models (12 mins)
lecture video 91・Graphical Representation of Beveridgean Efficiency (16 mins)
lecture video 92・Comparative Statics for the Efficient Unemployment Rate (11 mins)
lecture video 93・Graphical Representation of the Unemployment Gap (10 mins)
lecture video 94・Sufficient-Statistic Formula for the Efficient Tightness (12 mins)
lecture video 95・Implementing the Sufficient-Statistic Formula (14 mins)
lecture video 96・Unemployment Gap in the United States (10 mins)
lecture notes 6・Efficient Unemployment and Unemployment Gap
reading 14・Beveridgean Unemployment Gap
reading 15・Theory Ahead of Language in the Economics of Unemployment
reading 16・On the Efficiency of Matching and Related Models of Search and Unemployment
reading 15・Theory Ahead of Language in the Economics of Unemployment
reading 16・On the Efficiency of Matching and Related Models of Search and Unemployment
government policies
WAGE POLICIES
lecture video 97・Active and Passive Labor Market Policies (7 mins)
lecture video 98・Modeling a Minimum Wage (7 mins)
lecture video 99・Labor Supply and Demand with a Minimum Wage (7 mins)
lecture video 100・Designing an Optimal Policy (4 mins)
lecture video 101・Optimal Minimum Wage (15 mins)
lecture video 102・Evidence on the Minimum Wage (12 mins)
lecture video 103・Other Possible Effects of a Minimum Wage (11 mins)
lecture video 104・Modeling a Payroll Tax (8 mins)
lecture video 105・Labor Supply and Demand with a Payroll Tax (6 mins)
lecture video 106・Optimal Payroll Tax (9 mins)
lecture video 97・Active and Passive Labor Market Policies (7 mins)
lecture video 98・Modeling a Minimum Wage (7 mins)
lecture video 99・Labor Supply and Demand with a Minimum Wage (7 mins)
lecture video 100・Designing an Optimal Policy (4 mins)
lecture video 101・Optimal Minimum Wage (15 mins)
lecture video 102・Evidence on the Minimum Wage (12 mins)
lecture video 103・Other Possible Effects of a Minimum Wage (11 mins)
lecture video 104・Modeling a Payroll Tax (8 mins)
lecture video 105・Labor Supply and Demand with a Payroll Tax (6 mins)
lecture video 106・Optimal Payroll Tax (9 mins)
PUBLIC EMPLOYMENT
lecture video 107・Public Employment in the United States (7 mins)
lecture video 108・Matching Process with Public Employment (9 mins)
lecture video 109・Labor Supply and Demand with Public Employment (11 mins)
lecture video 110・Graphical Representation of Public Employment (13 mins)
lecture video 111・Computing the Public-Employment Multiplier (13 mins)
lecture video 112・Slopes of the Labor Supply and Demand Curves (8 mins)
lecture video 113・Expression for the Multiplier (10 mins)
lecture video 114・Multiplier Is Positive but Less than One (9 mins)
lecture video 115・Multiplier Is Countercyclical (9 mins)
lecture video 116・Multiplier in Slumps (11 mins)
lecture video 117・Multiplier in Booms (11 mins)
lecture video 118・Optimal Public Employment (5 mins)
lecture video 107・Public Employment in the United States (7 mins)
lecture video 108・Matching Process with Public Employment (9 mins)
lecture video 109・Labor Supply and Demand with Public Employment (11 mins)
lecture video 110・Graphical Representation of Public Employment (13 mins)
lecture video 111・Computing the Public-Employment Multiplier (13 mins)
lecture video 112・Slopes of the Labor Supply and Demand Curves (8 mins)
lecture video 113・Expression for the Multiplier (10 mins)
lecture video 114・Multiplier Is Positive but Less than One (9 mins)
lecture video 115・Multiplier Is Countercyclical (9 mins)
lecture video 116・Multiplier in Slumps (11 mins)
lecture video 117・Multiplier in Booms (11 mins)
lecture video 118・Optimal Public Employment (5 mins)
UNEMPLOYMENT INSURANCE
lecture video 119・Unemployment Insurance in the United States (10 mins)
lecture video 120・Matching Process with Unemployment Insurance (11 mins)
lecture video 121・Labor Demand with Unemployment Insurance (15 mins)
lecture video 122・Social Welfare with Unemployment Insurance (12 mins)
lecture video 123・Effort Supply with Unemployment Insurance (13 mins)
lecture video 124・Labor Supply with Unemployment Insurance (6 mins)
lecture video 125・Graphical Representation of Unemployment Insurance (5 mins)
lecture video 126・Unemployment Insurance in the Job-Rationing Model (7 mins)
lecture video 127・Moral-Hazard Channel (5 mins)
lecture video 128・Microelasticity and Macroelasticity of Unemployment (8 mins)
lecture video 129・Rat-Race Channel (4 mins)
lecture video 130・Unemployment Insurance in the Rigid-Wage Model (10 mins)
lecture video 131・Unemployment Insurance in the Standard Model (6 mins)
lecture video 132・Job-Creation Channel (11 mins)
lecture video 133・Optimal Unemployment Insurance (10 mins)
lecture video 134・Formula for Optimal Unemployment Insurance (5 mins)
lecture video 135・Baily-Chetty Term (10 mins)
lecture video 136・Effect of Tightness on Welfare (8 mins)
lecture video 137・Effect of Unemployment Insurance on Tightness (6 mins)
lecture video 138・Cyclicality of Optimal Unemployment Insurance (10 mins)
lecture video 119・Unemployment Insurance in the United States (10 mins)
lecture video 120・Matching Process with Unemployment Insurance (11 mins)
lecture video 121・Labor Demand with Unemployment Insurance (15 mins)
lecture video 122・Social Welfare with Unemployment Insurance (12 mins)
lecture video 123・Effort Supply with Unemployment Insurance (13 mins)
lecture video 124・Labor Supply with Unemployment Insurance (6 mins)
lecture video 125・Graphical Representation of Unemployment Insurance (5 mins)
lecture video 126・Unemployment Insurance in the Job-Rationing Model (7 mins)
lecture video 127・Moral-Hazard Channel (5 mins)
lecture video 128・Microelasticity and Macroelasticity of Unemployment (8 mins)
lecture video 129・Rat-Race Channel (4 mins)
lecture video 130・Unemployment Insurance in the Rigid-Wage Model (10 mins)
lecture video 131・Unemployment Insurance in the Standard Model (6 mins)
lecture video 132・Job-Creation Channel (11 mins)
lecture video 133・Optimal Unemployment Insurance (10 mins)
lecture video 134・Formula for Optimal Unemployment Insurance (5 mins)
lecture video 135・Baily-Chetty Term (10 mins)
lecture video 136・Effect of Tightness on Welfare (8 mins)
lecture video 137・Effect of Unemployment Insurance on Tightness (6 mins)
lecture video 138・Cyclicality of Optimal Unemployment Insurance (10 mins)
lecture notes 7・Government Policies