search models of unemployment

David Andolfatto
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

Unemployment, as it is conventionally defined, is a measure of full-time job search. Individuals generally have the option of allocating their time across many competing uses. It follows that an economic interpretation of unemployment data requires a theory that explains the circumstances in which people may prefer to engage in job search at the expense of other activities. Search models of unemployment are designed to do just this.
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How to cite this article

Andolfatto, David. "search models of unemployment." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 25 September 2017 <http://www.dictionaryofeconomics.com/article?id=pde2008_S000521> doi:10.1057/9780230226203.1497

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