TY - JOUR
AU - Hosios, Arthur, J.
AB - 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. This content is only available as a PDF. © 1990 The Review of Economic Studies Limited
TI - On The Efficiency of Matching and Related Models of Search and Unemployment
JF - The Review of Economic Studies
DO - 10.2307/2297382
DA - 1990-04-01
UR - https://www.deepdyve.com/lp/oxford-university-press/on-the-efficiency-of-matching-and-related-models-of-search-and-XqoKBxaSs1
SP - 279
EP - 298
VL - 57
IS - 2
DP - DeepDyve
ER -