Unemployment, optimal waiting and queues

  1. Carrera, Carmen
  2. Mercedes VAZQUEZ FURELOS
  3. Antonio Rodrigo
Zeitschrift:
Working papers in economics- Sydney

ISSN: 1-86487-015-X

Datum der Publikation: 1998

Seiten: 26

Art: Artikel

GOOGLE SCHOLAR

Zusammenfassung

In this article we portray the state of technically diverse economies as the outcome of probabilistic equilibria. We provide the steady state distributions of current technologies, unemployment, wages and job durations thus allowing the comparison of situations with identical mean values but a differently distributed probability mass. A queueing closed network is used to establish the connections between advertised, filled and dormant business options, and their implications for the unemployment of differently qualified workers. The queueing connecting rates are obtained endogenously as the outcome of the optimizing strategies of firms.