Mortensen used Search and Matching Theory to model one form of this phenomenon, whileexternal expectations create multiple equilibrium points for it according to Peter Diamond's CoconutModel.
Mortensen used Search and Matching Theory to model one form of this phenomenon, whileexternal expectations create multiple equilibrium points for it according to Peter Diamond's CoconutModel. The Shapiro-Stiglitz model implies that efficiency wages sustain this phenomenon, which issimilarly maintained according to the NAIRU model developed by Phelps and Friedman. Okun's lawposits the (*) inverse relationship between this and GDP, while the Beveridge Curve is particularly usefulin modeling a type of this phenomenon created by mismatched conditions, its "frictional" form. ThePhillips Curve plots inflation against, for 10 points, what economic phenomenon in which laborers are outof work?
Mortensen used Search and Matching Theory to model one form of this phenomenon, whileexternal expectations create multiple equilibrium points for it according to Peter Diamond's CoconutModel.
unemployment [or equivalents like joblessness; do NOT accept more general answers like "poverty"]