Job Matching, Wage Dispersion, and Unemployment

• The authors are the recipients (with Peter Diamond) of the Nobel memorial Prize in Economics 2010
• Brings together key papers from top labour economists
• The authors' research on labor market search and job matching has significantly directed and shaped the empirical literature
• Includes new introductory and concluding material from the authors and editors
• The authors received the IZA Prize in Labor Economics in 2005 for their pioneering research on the analysis of markets with search and matching frictions

Readership: Academics, students, labor economists, and officials interested in labor economics and unemployment

Dale T. Mortensen, Ida C. Cook Professor of Economics at Northwestern University, and Christopher A. Pissarides, Professor of Economics at the London School of Economics

Dale T. Mortensen is the Niels Bohr Visiting Professor of Economics at Aarhus University, a research associate of the National Bureau of Economic Research (NBER), and an IZA Research Fellow. He received his BA in Economics from Willamette University in 1961 and his PhD in Economics from Carnegie-Mellon University in 1967. Mortensen is a fellow of Econometrica Society, the American Academy of Arts and Sciences, the Society of Labor Economics, and the European Economic Association. He was awarded the Society of Labor Economics Mincer Prize in 2007 and elected an American Economic Association Distinguished Fellow in 2008. Among his publications are over fifty scientific articles and his book Wage Dispersion: Why Are Similar Workers Paid Differently?

Christopher A. Pissarides holds the Norman Sosnow Chair in Economics. He specialises in the economics of unemployment, labor market theory and policy, and economic growth and structural change. Pissarides has published extensively in professional journals and his book Equilibrium Unemployment Theory is a standard reference in the field. He is President Elect 2010 of the European Economic Association, Fellow of the British Academy, the Econometric Society, the European Economic Association and the Society of Labor Economists. His editorial activities include the chair of the Economica board, and membership of the editorial board of the AEJ: Macroeconomics and other journals. He is research fellow of IZA, the Centre of Economic Performance at LSE, and the Centre for Economic Policy Research (CEPR London).

Introduction by the Editors: Mortensen & Pissarides: Job Creation and Job Destruction in the Theory of Unemployment
Introduction: The Flow View of the Labor Market
1: The Matching Process as a Noncooperative Bargaining Game
2: Short-Run Equilibrium Dynamics of Unemployment, Vacancies, and Real Wages
3: Unemployment and Vacancies in Britain
4: Job Creation and Job Destruction in the Theory of Unemployment
5: Equilibrium Wage Distributions: A Synthesis