December 2014
Beginner
352 pages
14h 24m
English
Content preview from The Economics Book
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IN CONTEXT
FOCUS
Decision making
KEY THINKER
George Stigler (1911–91)
BEFORE
1944 British politician William Beveridge argues that if the unemployment rate is high, the number of job vacancies is low.
AFTER
1971 US economist Peter Diamond shows that costly search frictions prevent the law of “one wage” from working in practice.
1971 US economist Dale Mortensen looks at how unemployment can rise among skilled workers, even when there are jobs available.
1994 British economist Christopher Pissarides provides empirical data and models for search and matching theory.
It is usually easy to decide where to buy bread or soap. There are many supermarkets, and they ...
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