The Structure of Simple General Equilibrium Models with Frictional Unemployment
构建了一个两部门一般均衡模型，其中一个部门的劳动力市场存在交易摩擦，导致内生性均衡失业。搜索过程中的外部性导致无效率均衡，并改变了要素报酬与商品价格的关系，可能使相对供给曲线向下倾斜。
The authors develop a two-sector general equilibrium model in which equilibrium unemployment arises endogenously because of trading frictions in the labor market of one sector. Externalities inherent in the search process lead to inefficient equi libria, and this has important implications for the basic structure of the economy. In particular, the relationship between factor rewards and commodity prices is fundamentally different from the analogous relationship in a frictionless economy. One implication is that the economy's relative supply curve may be downward sloping, especially when the search sector is small. The authors also present several applications of the analysis. Copyright 1988 by University of Chicago Press.