1982 Orley Ashenfelter "Unemployment as Disequilibrium in a Model of Aggregate Labor Supply" скачать в хорошем качестве

1982 Orley Ashenfelter "Unemployment as Disequilibrium in a Model of Aggregate Labor Supply"

Orley Ashenfelter “Unemployment as Disequilibrium in a Model of Aggregate Labor Supply” Is unemployment always the result of workers choosing not to work — or can it reflect market disequilibrium? In standard competitive models, wages adjust to clear markets. Unemployment, in that framework, is either voluntary or frictional. But persistent unemployment across business cycles raised doubts about this simple interpretation. Orley Ashenfelter introduced a model in which unemployment emerges as a disequilibrium phenomenon. Rather than assuming labor markets always clear, he allowed for wage rigidity and adjustment delays, creating a framework in which observed unemployment reflects deviations from equilibrium conditions. The contribution was both theoretical and empirical. Ashenfelter showed how aggregate labor supply models could be estimated while allowing for disequilibrium dynamics. This opened the door to more realistic interpretations of macro-labor fluctuations and strengthened the link between labor economics and macroeconomic modeling. The 1982 Frisch Medal recognized a critical shift: empirical labor economics could no longer assume equilibrium as a given. Instead, equilibrium itself became an empirical question. This marked an important step in bringing structural macro-labor modeling into applied econometrics.